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, with a total principal balance of around $500 million.
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 America’s most dynamic cities.”
Since 2014 Cain has originated over $7 billion worth real estate debt globally while managing assets totaling more than $15 billion worldwide; they are involved in high profile projects such as One Beverly Hills and Raffles Boston Back Bay.
This acquisition marks another significant milestone for Cain International as they continue their mission towards becoming an industry leader across multiple asset classes within commercial real estate investments.
