Debt

The funding was arranged by Lone Star PACE and will be used to develop data centers in the Texas city.

The funding will be used by Gencom as part of a $308m deal to buy the Thompson Central Park New York hotel.

The Chicago-based firm joins a growing list of managers targeting distress.

The Federal Reserve’s decision to cut interest rates by 50 basis points is not expected to have a significant impact on commercial real estate lending and borrowing.

The private equity manager is taking a minority stake in North Bridge as part of the deal.

Slate’s financing arm has focused on development and construction completion investments year to date.

The New York-based investment manager will buy whole loans and performing- and non-performing notes, and provide additional financing through the fund.

PERE Credit’s inaugural Borrowing Barometer survey is designed to take the pulse of the US real estate financing market from those that use debt or raise it on behalf of those that use it.

The duo extend debt for four years on the office asset amid sector volatility.

While prices and the availability of financing have fallen as interest rates remain high, the industrial sector is on a different trajectory, BKM Capital Partners said in a white paper released this week.