Prime Finance, a commercial real estate credit platform, has acquired a portfolio of eight performing commercial real estate loans with an aggregate unpaid principal balance of approximately $760 million from Blackstone Real Estate Debt Strategies (BREDS). The portfolio is backed by a diversified mix of office and multifamily properties across five U.S. states.
“As commercial real estate capital structures continue to reset, we are identifying a growing set of opportunities across property types and geographies,” said Seth Fisher, principal and head of strategic capital solutions at Prime Finance. “The combination of quality underlying real estate, meaningful sponsor equity and an attractive basis made this a compelling investment for Prime Finance, and our experience navigating complex situations uniquely positions us to manage the portfolio and pursue the right outcome for each investment.”
The acquisition comes amid increased recapitalization activity across
