Randy Plavajka
The CEO believes real estate private credit could become the biggest part of the Toronto-based manager’s global property business.
The Cleveland-based advisory and manager is looking to tap into private wealth channels following the close of the deal.
The manager will be looking to originate its own loans, pursue securitized deals and acquire loans from traditional lenders as part of its real estate debt roadmap.
Jesse Hom will join the firm in June as it looks to expand its real estate presence amid bank lending pullback.
Indraneel Karlekar returns to the New York manager, where he previously headed research during his days with affiliate ING.
-80x80.jpg "Fortress acquires $1bn office loan portfolio from Capital One")
The New York-based private credit manager picks up substantial exposure to the city's office market in the deal.
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 May 1.
SVB fallout is ‘not comparable’ to regional banks' commercial real estate debt exposure, says Fed chair Jerome Powell.
The firm’s first investment vehicle following its acquisition by Morgan Stanley IM targets transitional amid market dislocation.