REC staff
Blackstone, Rialto and CPP Investments tap JLL to offload $1.8 billion of Signature Bank loans mere weeks after buying them; UBS Asset Management promotes Jon Hollick to head real estate globally; Midland puts defaulted $308 million 1740 Broadway loan out for sale at an estimated 50 percent discount; and more in today’s Term Sheet, exclusively for our valued subscribers.
Industry sentiment at CREFC Miami shows more optimism; DRC Savills Investment Management debuts US debt platform via Quadrant joint venture; Blackstone gears up for active investment period; Bank OZK, Wells Fargo and KeyBank kick off 2024 with loans blazing; Real Estate Capital USA's 2023 awards voting to close next week; and more in today’s Term Sheet, exclusively for our valued subscribers.
Brookfield raises concerns about Signature Bank loan portfolio sale; US Congress proposes legislation to boost workforce housing creation; lenders say the clock is ticking for borrowers with near-term maturities; and more in today’s Term Sheet, exclusively for our valued subscribers.
Real Estate Capital USA publishes a first-of-its-kind DE&I survey in its latest magazine; Ex-Blackstone veteran Chad Pike launches Makarora to target private debt, equity and public real estate market opportunities; Oaktree and Franklin Benefit Street Partners look ahead to 2024 for debt fundraising efforts; and more in today’s Term Sheet, exclusively for our valued subscribers.
Inside: The DE&I divide – our inaugural survey shows a split over diversity between the C-suite and the rank and file; A roundtable on how to create equity in real estate; Bridge lending – a 15-page special report; Plus much more…
Market watchers say forthcoming sale of Signature Bank’s loan portfolio could be a non-event for gaining clarity on valuations and pricing; Invesco has appetite for more strategic stakes following minority stake in last-mile industrial specialist Faropoint; CME and DWS anticipate rate cuts could start as soon as May 2024, and more in today’s Term Sheet, exclusively for our valued subscribers.
Blackstone, Related Fund Management and Starwood Capital Group among the bidders for parts of the Signature loan portfolio; Ready Capital identifies build-to-rent construction lending niche with latest strategy; Cottonwood originates a $240 million Boston luxury apartment development loan; and more in today’s Term Sheet, exclusively for our valued subscribers.
WeWork’s Chapter 11 bankruptcy filing will affect nearly $19 billion of outstanding commercial real estate debt; PCCP kicks off fundraising efforts for another real estate credit strategy to succeed its $1.7 billion predecessor; the office conversion wave gains more momentum with the planned redesign of New York’s iconic Flatiron Building; and more in today’s Term Sheet, exclusively for our valued subscribers.
Real Estate Capital USA opens for nominations for our third annual US commercial real estate debt industry awards; PGIM Real Estate and Northwestern Mutual join forces on a $869 million refinancing for a 25-asset Class A industrial portfolio; the White House looks to encourage more asset conversion pace to boost residential supply with a guidebook launch; and more in today’s Term Sheet, exclusively for our valued subscribers.
Goldman Sachs reduces the value of its balance sheet real estate portfolio by one-third to reduce sector exposure risk; Citibank and Deutsche Bank originate a $410 million refinancing package for a pair of Four Seasons resorts in Florida. Plus: Bain Capital’s special situations unit and Smith Hill to start targeting debt and preferred equity opportunities via a joint venture; and more in today’s Term Sheet, exclusively for our valued subscribers.