Commentary

Starwood’s $1.72bn Freddie Mac refinancing demonstrates continued GSE impact

Fannie Mae and Freddie Mac have been steadfast sources of US market liquidity alongside private lenders as borrowing pressures rise.

Nuveen Green Capital’s latest C-PACE financing shows expanded use

The firm’s $223m anchor loan to revitalize the former Cal Neva Hotel in Lake Tahoe, Nevada, signals an effort to return the storied property from road bumps to another heyday.

Time to shift the dial on representation in real estate private credit

More seasoned executives are launching their own platforms and a greater proportion are women.

Bay Area sees rise in deeds-in-lieu sale as lenders move on distressed assets 

Potential investors see a brighter future for distressed properties as rental rates rise and job growth accelerates.

Ares’ SoCal retail trophy financing demonstrates private credit expansion

The Los Angeles-based manager picks up exposure to the kind of hard-to-replicate asset that previously was most often financed by bank lenders and the securitized market.

Real estate credit is shoring up for knock-on effects of the US-Iran conflict

Higher oil prices seen since the start of US and Israeli military strikes on Iran could affect the cost of debt if interest rates go into flux.

Resi conversions are helping to bring Manhattan’s office market back into favor

Tenant demand for a decreasing amount of space is leading bank and non-bank lenders to be more willing to finance developments, redevelopments and refinancings.

Institutional lenders set for first stab at the next generation of New York skyscrapers

The planned developments of 2 World Trade Center and 350 Park Avenue in New York represent grail opportunities for private debt markets to participate.

Fairfax times the cycle with a bet on a manager intent on scaling its credit business

Kennedy Wilson has steadily built its real estate debt platform alongside its global equity presence ahead of its privatization by the Canadian manager.