3650 REIT's McFarlane Road headquarters in Miami. Photo by Google StreetviewMIAMI, FL–The California State Teachers' Retirement System has formed a JV with 3650 REIT, a private trust in Miami that launched earlier this year.
The JV is launching with an initial $200 million commitment that has an accordion feature for a potential total commitment of $500 million. The capital will be used for 3650 REIT's bridge and event driven lending strategy.
3650 REIT is a commercial real estate portfolio lender whose strategies include long-term, first-lien mortgages, bridge and event driven financing, opportunistic investments and relationship-focused loan servicing and asset management.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
