Alternative Lenders

Real estate credit should read the warning signs

Managers are optimistic about prospects for H2, but recent headlines highlight risks in the broader financial markets.

Breakthrough, Tishman Speyer fund $90m life sciences mezzanine bridge loan

The sponsor, Gemdale USA, will use proceeds to refinance existing debt.

ACORE funds $140m refinancing for self-storage continuation vehicle 

The deal comes amid an uptick in financing for continuation vehicles for real estate private equity managers seeking to extend the lives of funds.

Nuveen Green Capital funds $101m C-PACE deal for Newark studio

The 270,000-square-foot film and television production asset will be anchored by Lionsgate and marks New Jersey’s largest C-PACE deal to date.

Rialto, Hines fund a $229m refi for historic Manhattan office 

The Textile Building received a bridge loan boost after its post-pandemic renovation with backing from PGIM, Tribeca Investment and Meadow Partners.

S3 Capital details next platform targets following $10bn milestone

The New York-based manager is looking for construction lending opportunities in and beyond the stateside Sun Belt market for its next $10bn of volume.

Invesco lands UK pension pool commitment for European credit fund

LGPS Central, which invests on behalf of local government pension schemes, has allocated to the US manager’s CMI Europe.

Swiss LP adviser InPact targets first real estate debt mandate

The Geneva-based investment adviser is in talks with prospective managers, says founder and CEO Antoine Prudent.

Mercia targets up to £500m for UK real estate development debt fund

Birmingham-headquartered firm says investors are seeking regionally focused real estate debt strategies.

Qualitas’s Schwartz: European expansion could rival Australian arm

Andrew Schwartz, the Melbourne-based manager’s co-founder, says Europe’s lending market offers significant scope for growth.