Fundraising

The Dallas-based lender raised $148.6m in its first close.

Crestline Management recently closed its $625m European Capital Solutions Fund II, eyeing Spanish residential development.

The firm hopes to raise more than $1bn for the strategy by 2027.

The firm has raised roughly $3bn for C-PACE funds since 2023.

The firm funded a $281m financing backed by the residential component of Winthrop Center, a 62-story, mixed-use property in Boston owned by Millennium Partners.

The fund will originate senior and subordinate debt across asset classes and geographies around the US.

Private real estate lenders are set to be part of the solution to today’s version of distress.

Lenders are pushing borrowers to resolve maturing loans, but the ample liquidity available in today’s market has so far helped to keep distress in check.

The New York-based manager also is raising a targeted $1.5bn US and European real estate debt fund.

The New York-based manager noted it is drawing closer to $1.5bn targets set for the first vintage in each series during its Q2 earnings results.