Alternative Lenders

The financing comes amid a resurgence in activity for high-quality office properties.

In today’s edition, AllianceBernstein is extending its year-to-date lending run with a $137.5 million refinancing deal in Brooklyn’s Bedford-Stuyvesant submarket; PGIM is adding to its industrial debt portfolio with a $213 million cross-collateralized package spanning major US markets; Blackstone is preparing a swath of multifamily assets for a commercial mortgage-backed securities loan; and more in our round-up of global loan deals from the past week.

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.

Private real estate credit managers seeking to diversify their investments in alternative sectors are primed for more in the industrial sub-category.

The funding is part of a $269m recapitalization for BFC and SAA Canopy’s planned 393-unit rebuild of Parkside Commons.

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.

The 21st Century ROAD to Housing Act aims to spur new housing development and put guardrails on institutional ownership.

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