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The US firm is raising its fourth such vehicle, with its principal and co-founder calling the peak of the New York real estate cycle.
The non-performing real estate loan portfolio has a combined face value of €4.7 billion. 
Real estate debt fundraising was subdued last year, which should prevent a welcome boost to liquidity from becoming overheated.
M&G Real Estate Finance, one of the leading European institutional debt fund lenders, has seen a significant fall-off in lending in 2016.
ING has backed international investor The Olayan Group, underwriting a $570 million bridge loan for the Middle Eastern family office’s acquisition of the Sony Building in Manhattan, PDI sister publication Real Estate Capital reports.  
Redwood Trust is selling off a $241.3 million commercial loan portfolio consisting mainly of mezzanine loans, the sale of which will complete the firm’s exit from the commercial loan business, reports PDI sister publication Real Estate Capital.  
The private equity firm attracted investments from a number of large US pension funds for its third credit opportunities fund, which targets the European consumer, SME and mortgage markets.
 Cushman & Wakefield appoints structured finance head  
Amit Majithia has joined the London-based finance specialist after 15 years as a lawyer and property developer.
Apollo Commercial Real Estate Finance (ARI) has closed two commercial real estate loans in New York City totaling $95.5m and, through a repurchase agreement with JPMorgan Chase Bank, has increased its borrowing capacity by $200m to $800m, reports PDI sister publication Real Estate Capital.

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