Capital Markets

CMBS loan extensions are available, but the costs are rising

Rudin Management Company’s deal to extend a $425m loan on a New York office and Triple Five Group’s $1.39bn CMBS Minnesota mall extension come via agreements to complete substantial capital improvements.

Tokio Marine to buy majority stake in ACORE Capital

The transaction marks the first time the Japanese insurer has acquired a full or partial stake in a real estate manager.

Mamdani win underscores need for affordable, middle-income housing

Commercial real estate private credit managers believe lower rates and declining construction costs will pave the way for housing development.

Loans in focus: Related and OZK’s San Diego collab; Blue Owl’s IOS dive; S3’s Brooklyn bulk

Related Fund Management and Bank OZK have paired up to fund a $380 million financing package for the first phase of a Hines-backed mixed-use project in San Diego; Blue Owl Capital is expanding its lending book into more niche territory with a $150 million industrial outdoor storage financing; S3 Capital is adding to its Brooklyn construction lending momentum with an $81 million loan origination in the Greenpoint submarket; and more in our round-up of stateside loan deals from the past week.

Fidelity Bancorp lines up $300m TCW investment to expand lending platform

The commitment will allow the firm to expand its lending capacity to $600m.

TPG Real Estate Credit holds final close on $2.1bn for latest strategy

The firm exceeded its initial target of $1.5bn for the opportunity fund.

LNL Capital taps into net lease debt niche, nears $1bn milestone goal

The firm is close to hitting $1bn in originations.

CIM Group hires Shanley for office-oriented real estate credit push

Prior to joining CIM, Shanley had long tenures at Haven Capital and SL Green Realty Corp.

Gaw Capital to wind down US, Europe institutional businesses

The Hong Kong-based manager is ‘going back to our roots’ by emphasizing its pan-Asia strategies for institutional investors.