alternative lenders

Jay Sugarman, chairman and chief executive of ground lease specialist Safehold, believes a new take on an old structure could lead to a $500bn industry.

The $103 million financing will spur about $40 million of cashflow savings over the next 10 years.

Charles Foschini, who arranged the loan via Berkadia, said rising rental rates at Enclave at Lake Ellenor meant the borrower was able to secure better terms.

The company signed up its first clients in December.

The platform initially enjoyed a boost from being active at a time when overall lending was down.

The awards encompass activity in the 2021 calendar year and aim to honor stand-out organizations and transactions in 12 categories.

The Toronto-based firm has attracted $4bn in commitments from more than 50 investors for Brookfield Real Estate Finance Fund VI, twice as much as the second-biggest debt fund.

The loan on Pinder Point represents an opportunity that is slightly off the run and larger than many industrial financings the firm has seen.

The partnership will allow the Los Angeles-based lender to expand its lending and fundraising platforms.

While Europe’s domestic activity sets up a competitive scene for lenders, US liquidity and deal volume continues to thrive.