Office

North America dominated both funds closed and funds in market.

The Lending Barometer found that about 51.3%, or $70.3bn, of loans tracked year-to-date were comprised of refinancings.

Trimont president Alan Kronovet discusses the refinancing wave, distressed assets, lender workouts and how artificial intelligence is changing US commercial real estate loan servicing.

Valuers are navigating a market in which there is a dearth of transactional evidence for valuations.

With $1.8trn of ZIRP-era loans now maturing, the market is shifting from extend-and-pretend to disciplined resolution, and abundant capital is bifurcating sharply between prime assets and distressed pockets.

Nuveen Green Capital, Morgan Stanley and Barclays provided $856m in financing for the Boston mixed-use development.

The firm hopes to raise more than $1bn for the strategy by 2027.

The retirement association funded commitments to Hines-Rialto, Hudson Bay and TPG.

A $536m loan on the property is in special servicing.

The firm funded a $281m financing backed by the residential component of Winthrop Center, a 62-story, mixed-use property in Boston owned by Millennium Partners.