Alternative Lenders

A self-storage specialist is expanding its bridge lending in the asset class at a time when interest in the niche is rising.

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.

Key factors are now in place to support a long-predicted real estate recovery, according to LaSalle’s Brian Klinksiek and Dominic Silman.

Several firms including Fortress Investment Group helped launch the platform.

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

Continuity concerns over the manager’s $650m sale to Barings appear to be quelled as it pulls in its second-largest capital haul to date.

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