Shorenstein Properties is continuing to target debt opportunities through its $2 billion (€1.3 billion) Shorenstein Realty Investors Nine fund. The San Francisco-based firm has purchased a $250 million mezzanine package backed by 450 Lexington Avenue in New York City and a $51.5 million mezzanine loan backed by the McCandless Towers in Santa Clara, California.
Shorenstein capitalizes on debt opportunities with ninth fund(2)
Private real estate investment firm Shorenstein Properties is targeting debt interests in prime markets in the US looking to capitalize on the “ongoing dislocation” in the credit markets. The firm's total debt holdings now total $685m.
