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The lender is financing LendLease and Aware Super’s development on a downtown apartment tower.
The launch of SCH Trading comes after the company sold its commercial real estate lending business to Regions Bank last month.
The US manager now invests more than $150bn on behalf of insurance companies.
Berkadia, which arranged the financing, wants to carve out a niche in the sector.
Underwriting loans in the sector could become more difficult if wages aren’t commensurate with rent increases.
Executing an effective carbon reduction plan will be a critical component to maintaining value for institutional landlords going forward.
The move comes as more borrowers are turning to non-bank lenders.
The firm believes secular changes in consumer behavior that are driving the US and industrial logistics markets are a strong opportunity.
The firm has closed a pair of loans that fit this profile, with a growing pipeline.
The firm is seeing distress creep in as the covid-19 pandemic continues to tamp down recovery.