United States

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

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

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

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.

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

The funding will help recapitalize and fuel development of the 289-key Hilton Miami Beach Convention Center Hotel ahead of its May opening.

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

The luxury condominium property is backed by presold revenues and received competitive financing from the New York-based private manager.

The $27bn system is currently below its real estate target allocation.