Will Johnson
The workhorse of the commercial property finance market is down but might not be out.
The move comes as the Securities and Exchange Commission in October published a report calling for greater access to private funds for individual investors.
The firm entered the Chicago market this year, originating a $117m loan for LendLease and Super Aware.
The firm has just closed a $7.25m senior bridge loan on a San Francisco property.
The lender is financing LendLease and Aware Super’s development on a downtown apartment tower.
The launch of SCH Trading comes after the company sold its commercial real estate lending business to Regions Bank last month.
Berkadia, which arranged the financing, wants to carve out a niche in the sector.
Commercial mortgage servicers are finding it tough to attract and retain staff.
The BlackRock vehicle is the only passively managed dedicated CMBS ETF.
Projections for conduit issuance remain unchanged.