Multifamily Housing

As part of the growth plans, the mid-market lender plans to broaden its scope across Texas.

The funding will be used to refinance five Class A properties spanning Georgia, New Jersey, South Florida and Washington.

Trailbreak Partners will use the financing to build 295-unit Kaia Residences in the city’s Golden Triangle neighborhood.

The firms are targeting $200m for deployment with a heavy focus on subordinate multifamily and real estate loans.

The fund has a meaningful allocation to alternative sectors, Jon Lindell, executive vice-president, tells PERE Credit.

The Class A property, part of a larger portfolio, is now wholly-owned, debt-free.

Lenders and borrowers need to come to terms with more than $2trn of near-term maturities, according to attendees at this month’s CRE Finance Council conference in Miami.

The capital will be used by Hines, Affinius Capital and Columbia Development for master-planned community near Downtown Raleigh.

The fund is the largest the firms have raised since kicking off the partnership.

Chicago-based manager was part of the capital stack for the construction financing on The Edison, a 378-unit, mass timber luxury apartment building in Milwaukee.