Randy Plavajka
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.
The Federal Deposit Investment Corp seized the bank and sold control of it to JPMorgan on 1 May.
CEO Mukang Cho says the firm will target structured debt investments in the office sector.
PIMCO-backed Columbia Property Trust defaulted on $1.7bn in February.
The bank has added a new platform, hiring a JPMorgan veteran as team co-leader.
Executives from Goldman, Blackstone, GIC, Starwood and Mack Real Estate discussed the next wave of sector opportunities at a recent NYU panel.
The report identifies a $26.5bn loan cohort maturing by the end of next year.