Subordinated Debt

The fund’s loans can be non-recourse up to 65 percent, will be held on balance sheet.

The New York-based advisory, which focuses more on the debt markets, is seeing a rise in requests for debt and equity from its clients.

The manager originated $20m in mezzanine financing for a Phoenix-area deal and closed a programmatic credit facility with industrial specialist Phoenix Investors.

The senior and mezzanine debt will be used by Tavros Capital and Charney Companies to acquire and pre-develop a 1,000-unit project in the Gowanus neighborhood.

The manager-developer partnership is targeting $200 million in preferred equity and mezzanine investments across multifamily and industrial sectors

Owners CBRE IM and Brookfield in February lined up a $215m refinancing for the property via Nuveen and Torchlight Capital.

The borrower is a joint venture between Blue Vista and Cabot, Cabot & Forbes, owners of a Class A property in the Brighton submarket.

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