Private Debt Investor’s real estate debt report looks at the latest trends in global real estate lending
Allocations to real estate debt-focused vehicles rose substantially over the course of 2025 as investors increasingly took note of positive tailwinds impacting the asset class. But for managers that are looking to ramp up their activity in the sector, there are several factors – such as uncertainty around interest rates and changing demographics and competition from established market players – to consider, as we explore in this special report.
INSIDE THE REPORT
Real estate is on the rise for private debt investors
Investor appetite for real estate credit is growing as attractive attachment points and diversification opportunities mark out the asset class from other areas of private debt.
CMBS lessons have been learned
The CMBS market made significant changes after the global financial crisis. The impact has meant a more stable market.
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Real estate debt has had a tumultuous few years but market onlookers say there are reasons to be optimistic about its outlook in spite of muted fundraising activity. Amid growing investor interest in the multi-family, later living and student housing spaces, as well as growing innovation in the office and residential sectors, private credit firms are shoring up their lending expertise to prepare for an incoming wave of real estate financings.
A fresh start for the real estate debt market?
The real estate debt market dusts itself off and seeks to put capital to work.
The modern office conundrum
With working patterns, and therefore real estate requirements, transformed in the long term by the pandemic, how are real estate debt investors approaching office opportunities now?
Locust Capital: Measuring the seniors housing opportunity
Private lenders are well positioned to provide capital for seniors housing amid increasing demand for needs-based facilities and favourable macroeconomic tailwinds, say Eric Smith and Dan Contardi of Locust Point Capital.
Arrow Global: Bridge loans build flexible solutions
Bridge lending is continuing to gain momentum as borrowers look to find flexible solutions in a challenged market, says Mark Posniak, managing director in the bridging group at Arrow Global.
Financing the housing crisis
Lenders seek to differentiate themselves in a crowded – yet crucial – housing market.
LaSalle: Keeping pace with evolving markets
What opportunities are there for real estate debt investors in the US and Europe? LaSalle’s David White and Craig Oram talk through the tailwinds set to impact the sector.
Real estate debt: Later living takes centre stage
Against a backdrop of ageing populations and changing retirement dynamics, how are real estate investors accessing the later living sector as it evolves?
Some parts of real estate lending sector – most notoriously offices – have taken a major hit from the pandemic and macroeconomic challenges. But, as bank financing retreats, there is a big opportunity for private funds to expand into up-and-coming subsectors.
Real estate debt faces a challenging year
Once known as a predictable, stable and easily modelled asset class, real estate has seen a tumultuous start to the decade that has thrown doubt on many established investment philosophies.
Climate concerns drowned out by real estate lenders
ESG issues are increasingly important for investors in real estate debt, but are they being factored into investment decisions? Not necessarily.
Arrow Global: How to achieve safety in a tough market
Real estate direct lending can offer stable returns without the fluctuations of the public markets – a quality valued by investors today, says Ellis Sher, managing director, Arrow Lending Opportunities.
Kayne Anderson: Mixed fortunes for real estate lenders as markets bifurcate
Heading into the early months of 2024, real estate debt presents an intriguing mix of opportunity and challenges. Andrew Smith, head of real estate debt at Kayne Anderson, explains why.
Nuveen on the role of C-PACE in sustainable investing
Amid tough times for the commercial real estate market, Alexandra Cooley, chief investment officer and co-founder of Nuveen Green Capital, highlights a new source of green finance that provides a bright spot.
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