Canyon Partners Real Estate announced the closure of its largest national property debt vehicle to date, which will take advantage of the changing environment created by the coronavirus crisis.
The Los Angeles Investment Branch Canyon Partners says the $ 650 million funds, Canyon Laurel Fund II, will target senior and subordinated debt investments in the main US markets. The fund’s investor base comes from the United States, Japan, South Korea and Australia, as well as public and company pension plans.
“We are proud to say that approximately 70% of our predecessor fund has been reinvested in the Canyon Laurel Fund II” Robin potts, Canyon’s co-head of real estate, said in a statement. “The COVID-19 pandemic has created an even more attractive environment for real estate debt as lenders, homeowners and developers have faced growing cash needs, while Canyon’s positioning at the onset of the crisis provides us with made it possible to act quickly and capitalize on the growing opportunity. together.”
At the Commercial Observer fundraising forum in December, Potts spoke about the opportunities that arose with the changing debt landscape, and that she expects Canyon to continue buying mortgages and taking on new construction loans.
Canyon Partners Real Estate has doubled its real estate portfolio in recent years to over $ 6 billion.