Capital Markets

If a firm wants to move past high-net-worth investors, programmatic capital has an appeal.

The proceeds will fund the horizontal and vertical construction of a 360-unit townhome, build-to-rent project.

Sovereign wealth funds, family offices, pensions, endowments and foundations, and financial institutions were among the investors.

San Francisco-based SteelWave acquired the vacant property, which was developed by CEG Construction.

I see cap rates rising to an average of about 6.5% in 2022 and this will be good for CRE investors and developers.

The fund will ultimately invest in more than $2 billion in multifamily assets.

Pricing has become aligned with how aggressive the private debt funds have gotten in recent months and how aggressively priced multifamily deals have become overall.

Central Banks around the world have bought trillions of dollars in government and corporate bonds to keep borrowing costs down.