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With a looming threat of inflation, the sector is starting to feel like a safer bet.
Even with the headline risk around the retail sector, there are selective opportunities for investment and development.
The partners have an initial $500m of lending capacity and could see that increase as opportunities arise.
Rental housing and industrial are the firm's top priorities.
The advisory’s parent company Black Bear Asset Management also made a preferred equity investment.
The investment comes as the firm is carving out a niche in originating preferred equity to finance large-scale portfolio acquisitions.
The firm is also looking at more platform-level acquisitions.
The firm wants to boost originations to about $1bn quarterly.
The lender is financing LendLease and Aware Super’s development on a downtown apartment tower.
Underwriting loans in the sector could become more difficult if wages aren’t commensurate with rent increases.