Debt

An aging population is opening the door for more debt strategies in the healthcare sector.

The manager exercised five one-year extension options on 5 Bryant Park before securing a new loan for the office from King Street and Blue Owl. But it is not alone in extending that many times.

Saluda Grade is stepping into the rated market a little more than a year after the first-ever rated RTL deal was completed.

The financing replaces a $463m maturing commercial mortgage-backed securities loan that matured in June.

The partners will fund the development of Harper Square, a planned 45-story multifamily development that is close to the city’s Rittenhouse Square submarket.

The commitment will allow the firm to expand its lending capacity to $600m.

The financing will be used by Namdar Group to fund support construction and leasing for a pair of 43-story multifamily buildings in downtown Miami.

The firm exceeded its initial target of $1.5bn for the opportunity fund.

The firm is close to hitting $1bn in originations.