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Management is aggressively driving portfolio turnover to reallocate capital from legacy ***** ets into high-conviction themes like residential, industrial, and net lease sectors.
The company entered the $200 billion single-family home builder finance market to capture share from retreating regional banks, targeting mid-to-high teens levered yields.
Total office exposure has been reduced from 36% to 21% of the portfolio, with a goal to reduce legacy pre-2023 and office exposure by 40% or more by year-end.
Performance remains strong across the vast majority of the portfolio, supported by a 10-quarter trend of improving real estate values and a 20-year high in CMBS issuance.
#Portfolio #exposure #total
Management is aggressively driving portfolio turnover to reallocate capital from legacy ***** ets into high-conviction themes like residential, industrial, and net lease sectors.
The company entered the $200 billion single-family home builder finance market to capture share from retreating regional banks, targeting mid-to-high teens levered yields.
Total office exposure has been reduced from 36% to 21% of the portfolio, with a goal to reduce legacy pre-2023 and office exposure by 40% or more by year-end.
Performance remains strong across the vast majority of the portfolio, supported by a 10-quarter trend of improving real estate values and a 20-year high in CMBS issuance.
#Portfolio #exposure #total
3 months ago
