Proposed changes to existing regulations are expected to make it easier for sponsors to obtain this emerging form of financing.
New Jersey manager continues West Coast lending momentum with agency deals for the Sobrato Organization.
Goldman Sachs reduces the value of its balance sheet real estate portfolio by one-third to reduce sector exposure risk; Citibank and Deutsche Bank originate a $410 million refinancing package for a pair of Four Seasons resorts in Florida. Plus: Bain Capital’s special situations unit and Smith Hill to start targeting debt and preferred equity opportunities via a joint venture; and more in today’s Term Sheet, exclusively for our valued subscribers.
Miami manager will allocate $175m toward providing debt financing for value-add and distressed opportunities.
The Miami-based firm has garnered investments from some of the biggest institutional investors including CalSTRS and Mubadala.
The New York-based banking giant has been working to actively reduce its balance-sheet exposure to the sector since the start of the year.
The concern is that when rate cuts finally happen, the magnitude of these cuts could be lower than expected.
The joint venture secured a $750m floating-rate CMBS deal backed by a pair of luxury Florida resort properties.
The firm cited concerns over the workouts of New York’s 1740 Broadway, which has seen its servicer replaced twice since entering special servicing.
Trinity Investments lands its third major hotel financing of 2023; PGIM Real Estate maps out a succession plan for its agency lending leadership; KBRA outlines CMBS stress on the heels of Rite Aid's bankruptcy filing; and more in today’s Term Sheet, exclusively for our valued subscribers.