debt

Last month’s real estate debt fire sales at the outset of the covid-19 outbreak in the US were just the tip of the iceberg for private real estate

Coronavirus shutdowns have pushed nearly $25bn of US CMBS loans to the brink of delinquency, and the worst is yet to come.

South Korean investors’ demand for US real estate debt remains robust, but there is a change in the type of preferred debt products.

The Salt Lake City-based firm’s fundraising for its Multifamily IV and Debt Strategies III vehicles, contributed to a strong year for capital commitments.

The real estate lender is charging a 1.5% management fee, according to Arkansas pension fund documents.

The pension fund, among others, is concerned about the additional risks managers in the strategy are taking in order to meet higher return targets.

Bain Capital is the latest manager to target non-performing real estate loans, a strategy that has been attractive to institutional investors.

The California-based firm secured commitments from a variety of global investors.

Although traditional debt providers have become more cautious about the stateside shopping sector, newer lenders are looking for opportunities. By Michelle Phillips

Private real estate debt funds need to prove their value to investors in a more crowded and competitive market.