Multifamily Housing

The New York-based multifamily-focused manager will expand its lending via partnerships with other lenders and government-sponsored entities.

The funding will be used to recapitalize luxury 3ELEVEN tower south of Manhattan’s Hudson Yards.

The need for income means real estate private credit is becoming an indispensable allocation for investors.

The metrics of underwriting an apartment property have changed substantially since the start of the covid-19 pandemic.

When there is a dearth of capital for a sector, that could signal a time to look at the asset class more closely, said Peter Gordon, head of US commercial real estate debt.

The financing, which comprises a construction loan and C-PACE financing, will be used to develop the second phase of a mixed-use project in Darien, Connecticut.

The Canadian developer received financing for its properties across Chicago and Los Angeles.

A factor to consider when looking at the US multifamily market is an eventual decline in interest rates.

The New York-based lender is funding the construction of a new 477-unit, Class A rental building with ground-floor retail.

The firm’s credit platform manages whole loans, Freddie Mac products, preferred equity investments and mezzanine loans.