Shihao Feng
Opportunities in dislocation and capital being deployed into structured investments were among key themes for this year's award winners.
Higher interest rates continued to stall the US commercial real estate market in 2023, but alternative lenders and their investors are hopeful that opportunity will knock in 2024.
The interest rate outlook is still critical to the recovery of commercial real estate.
Morgan Stanley Real Estate Investing was also a part of the group that funded the loan for sponsor Bridge Industrial.
The Chicago manager is looking to expand its single-family rental portfolio with a second $250m investment in the specialist platform.
The commercial real estate market is operating against a backdrop in which higher interest rates have caused widespread declines in real estate values – and higher loan-to-value ratios.
Marx Development Group is building the 51-story, 379-key tower.
The firm accesses tax credits and other forms of financing for its multifamily-focused investments and developments in underserved communities.
Jonathan Pollack, who will officially come on board at Starwood in 2025, will join the firm at a time when alternative lenders are expected to be able to significantly increase their market share.
Market participants see increased competition for institutional-quality assets as private credit lenders look to increase their niche exposure.