Regions

The firm sees a clear opportunity to expand its platform as banks scale back their commercial real estate lending platforms.

The investment manager received commitments from a wide base of investors.

The project, being developed by Ascendant Capital Partners, is in the city’s West Village submarket.

Joel Pecoy replaces Danielle D’Ambrosio in overseeing the Charlotte-based manager’s $25bn real estate debt portfolio.

The firm raised approximately $1.2bn for CRED III, which is already over 40% deployed.

The Los Angeles-based firm sees the sector as a strong area for growth.

The US national debt is a macroeconomic issue, one that may not touch the lives of commercial real estate lenders and borrowers on a day-to-day basis.

The operator secured the first mortgage financing arranged by JLL Capital Markets.

Empira’s investment strategies include European residential, US residential, transition-to-green and real estate credit.

The New York-based manager will focus on large-balance loans through the fund, including bridge and construction deals in the mid-market.