Temasek, CenterSquare to launch commercial real estate debt co-investment vehicle

The investment vehicle will be invested in high-quality subordinate real estate loans.

Temasek partners with US-based CenterSquare Investment Management (CenterSquare) to launch a commercial real estate debt co-investment vehicle.

The investment vehicle is expected to have $200m to deploy and will invest in high-quality subordinate real estate loans once fully funded.

The first tranche of capital will be deployed alongside CenterSquare’s most recent debt fund in largely pre-identified deals with a focus on multifamily assets.

“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. We believe this creates an excellent opportunity for disciplined investors to earn attractive all-in returns,” Michael Boxer, managing director of CenterSquare’s Private Real Estate Debt vertical said.

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