Samantha Rowan
The New York-based manager will make investments in disrupted commercial real estate capital stacks.
The firm is responding to a pullback from bank lenders, chairman and chief executive Barry Sternlicht said on Starwood Property Trust’s Q4 earnings call.
The yield on the 10-year Treasury topped out at 5 percent in October before falling to less than 3.8 percent at the end of 2023.
The Toronto-based manager is looking at the city on a long-term basis.
The attainable housing specialist is seeing a push toward asset management.
Private credit lenders and other alternative sources of capital are already stepping in to work with national and regional banks to restructure loans.
Pennington Partners has hired a team from Walker & Dunlop Investment Partners to make structured equity investments in industrial and multifamily properties.
The California-based manager is seeing more opportunities as banks take closer looks at their balance sheets.
Bipartisan legislation is targeted toward middle-income families whose income is too high to allow them to qualify for low-income housing.
The multifamily sector could be in the crosshairs of the coming distress.