California

CalSTRS’ current real estate refocus is demonstrably including more credit

The $370bn Sacramento-based pension fund has moved to support more multifamily and industrial-focused strategies, including a $250m commitment to Greystar’s second real estate credit fund closing this week.

Bank OZK, Related fund $380m construction loan for $4bn Hines-backed project

The senior and mezzanine financing will be used to start development of the 200-acre Riverwalk San Diego project in Southern California.

Cottonwood holds final close for special situations strategy on $1bn

The Los Angeles-based manager has used the fund to add exposure to logistics, data centers, multifamily and mixed-use assets.

Intervest, Builders originate $160m financing for Disney-branded resi development

The funding will be used for the completion of the first phase of Cotino, a 1,900-unit master-planned community in Rancho Mirage, California.

Exclusive: UCLA survey tracks expected California construction decline

The Summer 2025 Allen Matkins/UCLA Anderson Forecast California Commercial Real Estate Survey highlights a subdued outlook for construction due to the impact of tariffs and trade tensions.

Beach Point closes real estate credit strategy at $545m

The firm raised nearly $1.3bn of capital for a pair of credit funds that included the California manager’s first distinct real estate debt offering.

Affinius closes $148.5m refi for San Diego multifamily high-rise

The San Antonio-based manager has picked up significant multifamily financing volume in April following similar deals in Boston and New York City.

Lenders eye San Francisco as office market moves toward equilibrium

As more green shoots emerge in leasing activities, lenders are more open to the city’s office market while it is on the way to further recovery.