There is a chance for well-capitalized companies which see opportunities to allocate to rescue capital for short-term investment opportunities.
GFP Real Estate, Metro Loft Management and Rockwood Capital are set to buy the 22-story, 1.1 million-square-foot office at 25 Water Street.
The firm is the first African American- and women-owned lender to obtain a DUS designation.
Corebridge Financial funded the loan, with The Baupost Group providing additional equity.
The manager launched its credit business in 2018 as part of a plan to scale its overall real estate platform.
The bank has added a new platform, hiring a JPMorgan veteran as team co-leader.
The financing is one of the final deals of 2022 for Square Mile, a New York-based investment manager.
The reasons behind the drop are easy to understand: a combination of lower transaction volume, higher interest rates and the steepest inflation in 40 years.
The firm's head of real estate debt portfolio management says that sidelined banks are shifting the paradigm for active lenders.
Executives from Goldman, Blackstone, GIC, Starwood and Mack Real Estate discussed the next wave of sector opportunities at a recent NYU panel.