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The New York-based mega manager expects deployment activity to become muted but more creative dealmaking to emerge in the near term.
The developer is seeing the impact of the expiration of the 421a tax abatement program.
Despite a slowdown in transaction volume, debt managers are moving ahead with hiring.
Gupta sees the potential to expand the firm’s senior secured bridge and permanent loan business over the next two or three years.
Pricing is expected to reset as interest rates rise over the next 12-24 months.
Boston manager to launch series of private credit funds with sights spanning all US asset classes
The manager is looking across sectors and deal types for new business activity.
The firm is hoping to expand its equity business after a strong 2021 in which it closed more than $4.5bn across three strategies.
The program was rebooted earlier this year to raise the minimum threshold for investment.
The financing was arranged by Lotus Capital Partners on behalf of the sponsors, Miami-based manager Gencom and New York-based Mohari Hospitality.