A new fund has entered the fray, offering to originate floating-rate first mortgage whole loans secured for transitional US commercial real estate
AllianceBernstein announced that it completed the first closing of its fourth US Commercial Real Estate Debt fund, which has secured nearly $900 million in capital commitments. Equitable will be the lead investor.
CRED IV, which is part of AllianceBernstein's transitional real estate lending strategy, will hold the loans on an unleveraged basis. Since its launch in 2013, the firm's platform of CRED funds has originated more than 100 loans and raised nearly $7 billion in capital commitments from institutional investors worldwide.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
