Alternative Lenders

Virginia Retirement System makes $250m ACORE fund allocation

The $136bn system has invested in the San Francisco-based manager’s ACORE Credit Partners III and its series predecessor.

Derby Lane closes $191.5m office-to-resi loan for GFP’s 40 Exchange Place

The 20-story tower in Manhattan’s Financial District will be converted into a 382-unit multifamily property with a mix of market-rate and affordable housing.

ACORE lines up first CRE CLO with $1.1bn offering 

The San Francisco-based investment manager is collateralizing the deal with loans tilt toward multifamily, industrial and retail assets across 15 states.

North Bridge sets a C-PACE template with New York City’s first multifamily closing

JEMB Realty will use the $8m loan to fund Herald Towers’ infrastructure upgrades alongside existing debt from Blackstone and Corebridge.

Principal’s Hill sees a return to traditional real estate investing 

Income will increasingly be the focus for debt and equity managers seeking to deploy capital, says Rich Hill, senior managing director and global head of research and strategy at Principal Real Estate.

Lending Barometer: Multifamily sector dominates 2025 lending activity

The sector completed 77 deals in November and December, outperforming the second most competitive sector by 47 deals.

Blue Owl closes $335m refinancing of Wynwood Plaza in Miami

The floating-rate bridge loan will be used by L&L Holding Company and Oak Row Equities to retire construction debt and fund remaining leasing costs.

Invesco aims for more momentum as acquisition financing opportunities increase

The firm struck a near-split between refinancing and acquisition deals across $4.5bn of loan commitments in 2025 across North America and Europe.