Randy Plavajka
Agency outlined parameters for prospective buyers across 14 pools of $33.2bn loan book.
The firm is launching the deal at a time when segments of the retail sector are showing signs of resilience.
-80x80.jpg "Fortress acquires $1bn office loan portfolio from Capital One")
Private credit manager picks up substantial exposure to New York City offices in the deal.
US bank lenders will face stricter capital requirements with proposed regulatory changes.
Bank capital requirement changes and shrinking balance sheets are opening doors in multifamily, industrial and construction.
Former PacWest division will focus on non-recourse bridge and construction financing following move.
The strategy arrives as the firm sees more industrial, construction and multifamily opportunities.
The sector is being hit by rising interest rates and other trends also affecting the broader commercial real estate debt markets.
PacWest attempts to add liquidity as regional banking turmoil persists.
The Los Angeles-based manager is targeting $3bn for its Real Estate Debt Fund IV.