The Paris-based manager’s global head of research and strategy believes it will be difficult to predict timing on a potential recovery, however.
The Norfolk, Virginia-based manager believes lenders and borrowers will need to more actively manage assets in order to meet business plans.
The transaction could lead to an office-to-residential conversion for the Midtown office tower.
At a size of $1.4bn, ACORE Credit Partners II is also the joint fourth-largest private real estate fund closed globally so far this year.
The most significant commercial property financing transactions across US debt markets, collected in our data snapshot, updated every Tuesday.
The former Affinius Capital head of credit capital markets will focus on private credit product expansion.
A growing number of commercial real estate managers have launched or expanded their lending platforms over the past three to six months.
Speaking at the PERE Network Europe Forum, the CEO and CIO of the asset management giant said Europe’s debt funding crisis is about to intensify.
The 23-hotel CMBS financing will recapitalize properties across 10 states.
The nonprofit finance company aims to fund affordable housing by providing financing and training to help minority-owned real estate developers expand.