Cain International, in partnership with Security Benefit Life Insurance Company, has agreed to acquire a portfolio of real estate construction loans from Pacific Western Bank for over $1.2 billion. The portfolio consists of 10 loans focused on multifamily and student housing developments in New York City, totaling approximately $500 million in principal balance.
Jonathan Goldstein, CEO and co-founder of Cain International commented: “We remain confident in the tenacity of urban markets and look forward to working with our new partners to support the delivery of some exceptional products to one of America’s most dynamic cities.”
Since 2014 Cain has originated more than $7 billion worth real estate debt globally while managing assets valued at over $15 billion across various projects such as One Beverly Hills and Raffles Boston Back Bay Hotel & Residences.
