Samantha Rowan
The manager is the latest to target accredited investors via a credit-focused strategy.
Head of originations says larger ticket loans on deck for Los Angeles debt manager.
The firm is targeting preferred equity and mezzanine debt deals of $2m to $10m.
The firm is seeking to line up patient individual and institutional capital to target small balance loans on transitional assets.
Commercial real estate sponsors and lenders are looking at the language around transitioning derivatives contracts tied to the benchmark.
Commercial real estate debt funds in North America raise $2.97bn in Q1 2023, showing resilience amid shifting market conditions.
Despite a surge in institutional allocations to commercial real estate debt in 2022, the first three months of 2023 saw a sluggish start, with just $800m committed to five funds in North America.
The strategy is growing in the US, but it lacks a real catalyst to drive change.
A key driver of activity in the multifamily sector is support from Fannie Mae and Freddie Mac for stabilized and pre-stabilized assets.
The Starwood-owned portfolio’s appraisal value has risen 35%% since December 2021.