CenterSquare Announces $200 Million Co-Investment Vehicle with Temasek
- Editor
- Feb 3
- 2 min read
What's Happening: CenterSquare Investment Management has created a $200 million commercial real estate debt co-investment vehicle with Temasek, a global investment company based in Singapore. The vehicle will invest in high-quality subordinate real estate loans, focusing primarily on multifamily assets.
The Key Moves:
The co-investment vehicle will deploy $200 million into high-quality subordinate real estate loans.
The portfolio will continue the strategy of CenterSquare's Debt Fund Series, which began in 1999.
The investment will focus heavily on multifamily assets while maintaining flexibility for market conditions.
By The Numbers :
CenterSquare manages over $14 billion in assets as of December 2024.
The Debt Fund Series has been operating since 1999.
The partnership with Temasek began in early 2022 and has grown steadily since then.
Key Quotes:
"In the current, higher-rate environment, we continue to see many borrowers in need of 'gap capital' as loans come due and they are no longer able to secure the same level of mortgage loan proceeds that were available previously in the lower-rate climate," said Michael Boxer, Managing Director of CenterSquare's Private Real Estate Debt vertical.
"In my opinion, now is one of the best times I've seen in my career to invest in commercial real estate debt," stated Richard Gorsky, Managing Director, Private Real Estate Debt.
"We are excited to continue our partnership with Temasek, which began in early 2022, and has grown steadily since that time," added Richard Gorsky.
The Bottom Line: CenterSquare's new co-investment vehicle with Temasek represents a significant opportunity in the commercial real estate debt market, particularly in the multifamily sector. The partnership leverages CenterSquare's established Debt Fund Series strategy and aims to capitalize on the current high-interest rate environment by providing necessary capital to borrowers facing challenges in securing traditional mortgage loans.
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