New York Life Real Estate Investors (REI) has completed the final closing of its Madison Square Structured Debt fund with nearly $500 million in committed capital.
The closed-end fund will originate bridge loans collateralized by institutional-quality office, multifamily, industrial, retail, and other niche sector assets in primary and secondary markets in the United States. It is structured as a commingled high-yield real estate debt vehicle and will originate roughly $1 billion of senior bridge loans in total.
“We believe that the new Madison Square Structured Debt fund is well positioned to deliver attractive risk-adjusted returns for investors in the face of global turbulence and real estate market disruption driven by the current capital market dynamics,” said John Lippmann, an industry veteran and head of structured debt at REI.
He will serve as the portfolio manager for the fund.
Lippman and his team have originated nearly $5 billion of structu
