Samantha Rowan
The New York-based multifamily investor has been looking selectively at deals, but believes rates are too high to move ahead with transactions.
The polls will close at midnight PST on Monday, January 15 and the results will be revealed in April.
The firm hopes to provide mezzanine and preferred equity financing for sponsors in its target markets which are facing short-term capital challenges.
While the change in sponsor attitude has not yet been reflected in transaction volume, market participants are pointing to anecdotal situations over the past 30 to 60 days which shed light on the shift.
Lower interest rates and the potential for the passage of tax credits promoting the development of affordable housing could be significant for the sector.
New York State Teachers' Retirement system followed, raising $400bn.
The index was 20.73% in September, compared with 19.73% in July.
Just 21 funds were raised in the first three quarters of 2023, compared with 51 for full year 2022.
The Real Estate Capital USA Lending Barometer tracks non-securitized senior mortgage and mezzanine and preferred equity financings across markets and sectors.
Related Companies and Blackstone are among reported bidders for the failed bank’s commercial and multifamily lending portfolios.