Samantha Rowan
Alternative lenders and the commercial mortgage-backed securities market could help plug the gap, per a report released this week.
The New York-based investment manager earlier this year completed two significant acquisitions, said Marc Zahr, co-president and head of real estate.
The New York-based private credit manager believes the long-term destruction of value will present lending and recapitalisation opportunities.
Commercial real estate lenders are being guided by a principle that is more fraught than a fear of missing out – they are afraid of making a mistake.
Amit Rustgi, who joins from PIMCO, will focus on credit opportunities across sectors.
West Street Real Estate Credit Partners IV will have more than $7bn of lending capacity.
The Paris-based bank is seeking to increase financing options for alternative lenders.
The long cycle has caused a dearth of workout specialists as lenders and borrowers seek to modify loans.
The commercial real estate market, which has been in a value correction cycle for the past two years due to higher interest rates and cap rates, will see this correction continue until interest rates settle.
As banks seek to address commercial real estate exposure, alternative lenders are stepping in to acquire or help restructure loans.