United States

Freddie Mac provides $335m of funding alongside investments from CPP and Harbor Group.

The Toronto-based manager is looking at the city on a long-term basis.

The New York City property was converted from an office building into a multi-use asset.

The loan on One Market Plaza, a San Franciso office tower, was one of the largest CMBS loans slated to mature in 2024.

Private credit lenders and other alternative sources of capital are already stepping in to work with national and regional banks to restructure loans.

SL Green Realty Corp and Vornado Realty Trust will have to contribute substantial equity to extend the loan, per servicer remittance reports.

The Ares-RXR venture comes at a time when transaction activity in the city has started to tick upward and capital is starting to move.

Indraneel Karlekar returns to the New York manager, where he previously headed research during his days with affiliate ING.

The local investor has been a long-time debt investor alongside its equity portfolio.

Michael Berman will shift from chief executive to executive adviser, as M&T taps Michael Edelman as his successor.