Benefit Street Partners (BSP), a credit-focused alternative asset manager, has announced the final close of BSP Real Estate Opportunistic Debt Fund II (ODF II), providing $10 billion of investable capital, inclusive of related vehicles and anticipated leverage, across $3 billion of equity commitments. This fundraise caps a year of historic deployment for BSP’s commercial real estate team, which originated nearly $9 billion of real estate investments during 2025.
Consistent with its predecessor fund, ODF II focuses on originating senior and junior commercial real estate debt investments across major U.S. markets, with a particular emphasis on the multifamily sector. The strategy leverages BSP’s integrated credit platform and longstanding relationships with borrowers, sponsors and intermediaries nationwide, targeting middle-market opportunities where flexible capital and deep underwriting expertise can unlock value in transitional, distressed or otherwise complex commercial
