Anna-Marie Beal
The firm raised approximately $1.2bn for CRED III, which is already over 40% deployed.
The $11bn pension fund will be launching searches for managers imminently.
The system has rebalanced its portfolio, increasing its private real estate debt target and decreasing that of its core real estate by 2% each way.
The New York-based manager aims to tap into credit opportunities arising outside of the US.
Lotus, a New York-based advisory, arranged the loan on behalf of Monroe Capital and Witkoff Group.
Debt funds and alternative lenders step into the space left by banks, Real Estate Capital USA data shows.
This is the Washington, DC-based company’s first ever credit-focused investment vehicle.
Robin Potts, co-head of real estate investments at Canyon Partners, talks with Real Estate Capital USA about navigating a period of historic volatility.
The market will have to adjust to negative leverage by either having cap rates go up or investors willing to take a lower return.
First mortgages with high LTVs were still being originated in the first half of 2022, but less so than during the same period last year.