Shihao Feng
The sponsors will use the loan to refinance maturing debt.
With the hiring of Drew Fung, the Iowa-based manager is stepping up its ambitions in private real estate credit.
The Asia-Pacific private real estate credit markets present a disparate set of opportunities for managers.
A record US office CMBS special servicing rate suggests an increasingly proactive refinancing and workout environment.
The manager is refinancing a portfolio of 74 industrial facilities and two land parcels.
The mixed-use property secured the financing as the New York office market continues to recover.
The loans were funded through Northwind’s discretionary debt fund platform.
The CMBS refinancing will repay a previous $700m CMBS loan tied to the property.
The CMBS market saw $14.93bn of new industrial originations through August, a Trepp report found.
Hines Rialto Credit Partners was launched in 2024 with a 'debt-first' approach to the office sector.