In 2024, QuadReal’s U.S. Real Estate Debt team saw significant momentum, completing 13 deals totaling $1.1B. Deals supported 1,884 units and 1,320,434 sq ft of development in its high conviction sectors, living, including multifamily and student housing, industrial real estate, and alternatives.
Living
QuadReal’s 2024 debt deals deepened the firm’s conviction in the living sector with investments topping $700M in 2024. QuadReal’s research-based approach informs a strategic focus on markets with structural supply and demand imbalances and strong market fundamentals. The firm’s debt deals in the multifamily sector included a $110M deal financing the development of 246 units and 10,582 square feet of retail at 880 Atlantic Avenue in Brooklyn, New York; a $58M fixed rate stabilized loan for 138 units at 230 Classon Avenue in Brooklyn, New York; and a $85M fixed rate stabilized loan for 326 units as well as 14,181 square feet of ground-floor retail at Novel River Oaks in Houston, Texas.
As part of QuadReal’s commitment to building meaningful communities and supporting quality options for people at every step of the housing journey, QuadReal completed $449M / 954 units of student housing deals in 2024. These included a fixed rate stabilized loan for student living project the Verve New Brunswick in East Brunswick, New Jersey, a $83.35M financing of 181 student housing units, including accommodation for 696 beds; as well as a $83M loan for Nine at Central in Orlando, Florida, a property with 201 units and space for 749 beds.
Industrial
Within the industrial sector, driven by the rise of e-commerce and last-mile logistics, QuadReal completed $249M / 1,255,168 sq ft of deals to support the firm’s conviction in the long-term value of industrial real estate. Key investments in this asset class included HRP Building 1 in Jersey City, New Jersey, a $130M deal with 427,155 square feet of industrial space, a $38.49M deal to support Northbridge Industrial Portfolio which includes 477,182 square feet available for rent, and 9401 De Soto in Chatsworth, California, where $29M in financing will support 150,831 square feet of industrial space.
Alternatives
In addition to lending in the living and industrial sectors, QuadReal is committed to and actively lending in the alternatives market, with a focus on self-storage, data centers, cold storage, grocery anchored retail and medical offices. In 2024, the team closed a $43M transitional loan for a self-storage facility in Manhattan. The eight-storey property was built in 2023 and consists of 2,103 climate-controlled units (953 standard units / 1,150 lockers) across 65,266 sq ft.
“2024 was a dynamic year for our Real Estate Debt team, and the latest chapter forging strategic partnerships and driving market-exceeding returns,” said Prashant Raj, Managing Director for U.S. Debt Investments at QuadReal. “Our U.S. debt deals over the last year demonstrate the team’s entrepreneurial approach and QuadReal’s commitment to supporting a diverse range of asset classes in markets that span not just from coast to coast, but across the globe.”
The Real Estate Debt team’s diversified investments in high-conviction sectors support QuadReal’s global investment strategy which aims to create portfolios that are resilient to fluctuating economic conditions and receptive to innovation. QuadReal is one of the top 20 largest real estate investors globally, and one of the top five investors in North America.
