Southwest

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.

Nuveen Green Capital closes $223m C-PACE loan for Lake Tahoe resort

Realberry, Kor Real Estate Partners and Proper Hospitality will use the funding and a $75m Banc of California senior loan to redevelop the Cal Neva Hotel.

Canopy Real Estate gears up for the second fund 

The Denver-based manager sees an opportunity set in resolving distressed capital stacks in mid-market assets.

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.

Origin Credit Advisers launches multifamily-focused credit fund

Eyeing long-term momentum in the multifamily market, the Origin Investment affiliate combined its credit strategies into a new fund.

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.

Ares funds $447m acquisition loan for SoCal retail trophy

A sponsor group including Redwood West, Panattoni and Prime purchased Victoria Gardens from Brookfield Properties and QIC in a $530 million deal.

Avila holds second close of sequel real estate credit strategy at $200m

Toll Brothers, DR Horton and Century Communities have made investments in the debt fund as AREC aims to raise $1bn in commitments.