Alternative Lenders

With the transaction, Trimont will manage a total of $640bn of loans in the US, or about 11% of the US commercial real estate lending market.

The Boca Raton-based manager has hired Ian Russell from Singerman Real Estate as part of the initiative.

Willy Walker, chairman and chief executive of Bethesda-based Walker & Dunlop, sees signs of a market recovery.

The New York-based private credit manager believes the long-term destruction of value will present lending and recapitalization opportunities.

Higher interest rates and construction costs are making development more expensive, according to Coraly Rodriguez, partner.

The firm has consistently been seeing $1bn-$2bn of new loans coming through every month.

The hire is part of a global push to expand its commercial real estate credit platform.