Insight

The firm last month hired Kukulka, who spent more than a decade as the global head of capital markets and deputy chief operating office of the real estate and infrastructure division of the Abu Dhabi Investment Authority, to spearhead this growth.

Affiliate title PERE’s America Forum puts debt center stage; Fannie Mae and Freddie Mac will be tapering their multifamily lending caps by $5 billion each under 2024 guidance; CBRE research shows insurance lenders are gaining market share as banks and private credit managers cede ground; and more in today’s Term Sheet, exclusively for our valued subscribers.

Real Estate Capital USA opens for nominations for our third annual US commercial real estate debt industry awards; PGIM Real Estate and Northwestern Mutual join forces on a $869 million refinancing for a 25-asset Class A industrial portfolio; the White House looks to encourage more asset conversion pace to boost residential supply with a guidebook launch; and more in today’s Term Sheet, exclusively for our valued subscribers.

Landmark Properties is seeing a diverse and growing lender pool for the properties in its student housing pipeline.

The women-led firm focuses on ground-up, multifamily projects in the Sunbelt region.

Fortress Investment Group carves against the grain with the acquisition of a $900 million Capital One office loan portfolio, despite the sector's headwinds; Unibail-Rodamco-Westfield demonstrates it sees a future for a Los Angeles mall with a $925 million Morgan Stanley CMBS refinancing; Berkadia analysis shows bank failures have not halted lending despite heightened credit standards; and more in today’s Term Sheet, exclusively for our valued subscribers.

WeWork is casting doubt on its future viability as rent and tenancy costs keep office stability in limbo; Hodes Weill finds commercial real estate M&A lost steam in the first half of 2023; AEW Capital Management lays out succession plans for the upcoming retirement of longtime chair Jeff Furber; and more in today’s Term Sheet, exclusively for our valued subscribers.

CREFC and NCREIF roll out debt fund aggregate comprised of 13 managers to field feedback on their forthcoming index launch; Nuveen launches C-PACE lending fund to address insurance company appetite; How commercial real estate debt will be affected by the Fitch and Moody’s downgrades amid existing market volatility; and more in today’s Term Sheet, exclusively for our valued subscribers.

US regulators look to boost bank capital requirements in Basel III proposal; Ares’ senior leaders talk real estate debt opportunities during quarterly earnings; Banco Inbursa originates $220 million financing to fuel Silverstein, MetroLoft New York office tower conversion plans; and more in today’s Term Sheet, exclusively for our valued subscribers. 

Banks brace for office losses, but demonstrate more stability.