Whole Loan

The first close is backed by Danish institutional investors Industriens Pension and Lægernes Pension.

New York-based Mavik funded a $12m preferred equity loan for the acquisition of a suburban Minneapolis industrial property.

JLL-advised dealflow data indicates lenders and sponsors are not waiting for rates to move as they act on immediate borrowing needs.

The New York-based manager noted it is drawing closer to $1.5bn targets set for the first vintage in each series during its Q2 earnings results.

The Nashville-based manager extends its Northeast US lending streak, which has largely bulked multifamily and industrial sector exposure year-to-date.

The firm’s European credit platform has now closed four transactions this year.

PRECap VIII will provide whole-loan and mezzanine financing, as well as preferred equity, across European real estate markets.

Sponsors need to close the door on a wave of 2021-vintage, floating-rate loans that are approaching or have reached their final maturity.

The $8.9bn pension aims to commit $15m-$30m to real estate credit in 2026.

The New York-based manager is adding competitive lending depth atop its flagship platform and has more capital-raising efforts in the works.