{"id":1004566431,"date":"2022-02-07T04:02:28","date_gmt":"2022-02-07T12:02:28","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004566431"},"modified":"2022-12-08T19:26:17","modified_gmt":"2022-12-09T03:26:17","slug":"related-fund-management-closes-debt-fund-at-792m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/related-fund-management-closes-debt-fund-at-792m\/","title":{"rendered":"Related Fund Management Closes Debt Fund at $792M"},"content":{"rendered":"
\"The<\/a>

The Alloy Block. Image courtesy of Alloy Development<\/p><\/div>\n

Related Fund Management<\/strong> has reached the final closing of Related Real Estate Debt Fund LP (RDF), with capital commitments of $792 million, exceeding its target of $750 million.<\/p>\n

The fund is a real estate credit vehicle that provides debt financing, structured as first mortgage whole loans, B-notes, mezzanine loans and preferred equity secured by a diversified set of real estate assets, including residential, office, industrial, hospitality, retail and specialty-use. \u201cThe vehicle specializes in identifying opportunities to provide capital at varying stages of the investment lifecycle,\u201d according to Related.<\/p>\n

\n

READ ALSO<\/strong>: Return-to-Office Plans Stall Again<\/a><\/p>\n

\n

RDF capitalized on strong market activity in 2021, as of year\u2019s end having closed seven transactions totaling more than $247 million of fund equity. RDF has originated debt positions collateralized by multifamily, office, hotel, retail and mixed-use assets.<\/p>\n

Brian Sedrish, a managing director of Related Fund Management, said in a prepared statement that the strong investor interest in RDF was largely attributable to its strong investment track record, expertise originating unique, off-market transactions and its ability to leverage Related\u2019s 50-year history in development, construction and rehabilitation.<\/p>\n

The Arizona State Retirement System<\/strong> and Menora Mivtachim Holdings Ltd<\/strong>. were among the fund\u2019s lead investors.<\/p>\n

Evercore<\/strong>\u2019s Real Estate Capital Advisory group was the global capital advisor for the fund raise.<\/p>\n

Funding sustainability<\/h2>\n

Among RDF\u2019s deals to date was a slice of the $240 million financing package, nailed down last summer, for the first phase of The Alloy Block, a mixed-use development at 80-100 Flatbush in Brooklyn. The project will encompass New York City\u2019s first all-electric residential tower, the Kahlil Gibran International Academy high school and a public elementary school, all with immediate access to the Long Island Railroad\u2019s Atlantic Terminal, a public transportation hub.<\/p>\n

The 44-story residential tower will have 396 market-rate apartments and 45 affordable units, along with 30,000 square feet of retail space. In a future phase, a second tower will include housing, retail and office space, as well as a new cultural center.<\/p>\n

Goldman Sachs<\/strong> and funds managed by the Real Estate Group of Ares Management<\/strong> joined RDF in the financing. The developers are local entity Alloy Development<\/strong> and the New York City Educational Construction Fund<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Among the fund\u2019s deals is a slice of the $240 million financing for a Brooklyn mixed-use project.<\/p>\n","protected":false},"author":882,"featured_media":1004566466,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21808,21825,21783,21752,1600,21742,10],"tags":[44687,49273,33435,32952],"class_list":["post-1004566431","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-featured","category-finance","category-investment","category-mixed-use","category-new-york","category-latest","category-northeast","tag-ares-management-corp","tag-evercore-partners","tag-goldman-sachs","tag-related-companies"],"acf":[],"yoast_head":"\nRelated Fund Management Closes Debt Fund at $792M - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Related Fund Management has reached the final closing of Related Real Estate Debt Fund LP, with capital commitments of $792 million, exceeding its target of $750 million.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/related-fund-management-closes-debt-fund-at-792m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Related Fund Management Closes Debt Fund at $792M\" \/>\n<meta property=\"og:description\" content=\"Related Fund Management has reached the final closing of Related Real Estate Debt Fund LP, with capital commitments of $792 million, exceeding its target of $750 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/related-fund-management-closes-debt-fund-at-792m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2022-02-07T12:02:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T03:26:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/The-Alloy-Block.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"820\" \/>\n\t<meta property=\"og:image:height\" content=\"594\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/related-fund-management-closes-debt-fund-at-792m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/related-fund-management-closes-debt-fund-at-792m\/\",\"name\":\"Related Fund Management Closes Debt Fund at $792M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/related-fund-management-closes-debt-fund-at-792m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/related-fund-management-closes-debt-fund-at-792m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/The-Alloy-Block.jpg\",\"datePublished\":\"2022-02-07T12:02:28+00:00\",\"dateModified\":\"2022-12-09T03:26:17+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555\"},\"description\":\"Related Fund Management has reached the final closing of Related Real Estate Debt Fund LP, with capital commitments of $792 million, exceeding its target of $750 million.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/related-fund-management-closes-debt-fund-at-792m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/related-fund-management-closes-debt-fund-at-792m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/related-fund-management-closes-debt-fund-at-792m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/The-Alloy-Block.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/The-Alloy-Block.jpg\",\"width\":820,\"height\":594,\"caption\":\"The Alloy Block. Image courtesy of Alloy Development\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/related-fund-management-closes-debt-fund-at-792m\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Related Fund Management Closes Debt Fund at $792M\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555\",\"name\":\"Scott Baltic\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96\",\"caption\":\"Scott Baltic\"},\"description\":\"Scott Baltic has been a contributing editor with Commercial Property Executive since 2011 and also wrote for its predecessor, Commercial Property News. He started writing about CRE in 1988 for a group of Chicago-based publications and in 1989 became the editor of Midwest Real Estate News. After moving on from there in 1991, Baltic continued writing occasionally about real estate, for publications like the Chicago Sun-Times, National Real Estate Investor, Urban Land, Shopping Center World and Architect\u2019s Newspaper. He earned a master\u2019s in journalism from Northwestern University\u2019s Medill School of Journalism and has a bachelor\u2019s from North Park University.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/scott-baltic\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Related Fund Management Closes Debt Fund at $792M - Commercial Property Executive","description":"Related Fund Management has reached the final closing of Related Real Estate Debt Fund LP, with capital commitments of $792 million, exceeding its target of $750 million.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/related-fund-management-closes-debt-fund-at-792m\/","og_locale":"en_US","og_type":"article","og_title":"Related Fund Management Closes Debt Fund at $792M","og_description":"Related Fund Management has reached the final closing of Related Real Estate Debt Fund LP, with capital commitments of $792 million, exceeding its target of $750 million.","og_url":"https:\/\/www.commercialsearch.com\/news\/related-fund-management-closes-debt-fund-at-792m\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2022-02-07T12:02:28+00:00","article_modified_time":"2022-12-09T03:26:17+00:00","og_image":[{"width":820,"height":594,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/The-Alloy-Block.jpg","type":"image\/jpeg"}],"author":"Scott Baltic","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/related-fund-management-closes-debt-fund-at-792m\/","url":"https:\/\/www.commercialsearch.com\/news\/related-fund-management-closes-debt-fund-at-792m\/","name":"Related Fund Management Closes Debt Fund at $792M - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/related-fund-management-closes-debt-fund-at-792m\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/related-fund-management-closes-debt-fund-at-792m\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/The-Alloy-Block.jpg","datePublished":"2022-02-07T12:02:28+00:00","dateModified":"2022-12-09T03:26:17+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555"},"description":"Related Fund Management has reached the final closing of Related Real Estate Debt Fund LP, with capital commitments of $792 million, exceeding its target of $750 million.","breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/related-fund-management-closes-debt-fund-at-792m\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/related-fund-management-closes-debt-fund-at-792m\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/related-fund-management-closes-debt-fund-at-792m\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/The-Alloy-Block.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/The-Alloy-Block.jpg","width":820,"height":594,"caption":"The Alloy Block. Image courtesy of Alloy Development"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/related-fund-management-closes-debt-fund-at-792m\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Related Fund Management Closes Debt Fund at $792M"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555","name":"Scott Baltic","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96","caption":"Scott Baltic"},"description":"Scott Baltic has been a contributing editor with Commercial Property Executive since 2011 and also wrote for its predecessor, Commercial Property News. He started writing about CRE in 1988 for a group of Chicago-based publications and in 1989 became the editor of Midwest Real Estate News. After moving on from there in 1991, Baltic continued writing occasionally about real estate, for publications like the Chicago Sun-Times, National Real Estate Investor, Urban Land, Shopping Center World and Architect\u2019s Newspaper. He earned a master\u2019s in journalism from Northwestern University\u2019s Medill School of Journalism and has a bachelor\u2019s from North Park University.","url":"https:\/\/www.commercialsearch.com\/news\/author\/scott-baltic\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/The-Alloy-Block.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004566431","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/882"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004566431"}],"version-history":[{"count":10,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004566431\/revisions"}],"predecessor-version":[{"id":1004566522,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004566431\/revisions\/1004566522"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004566466"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004566431"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004566431"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004566431"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}