Benefit Street Raises $10B From Multifamily Focused CRE Lending Fund
Benefit Street Partners has received $10 billion in total commitments from its Opportunistic Debt Fund II that will target loans in the multifamily sector.
This marks the final close for the pool, which garnered $3 billion in equity commitments.
Fund II concentrates on lending both senior and junior commercial debt in the multifamily space in core national markets. It's unclear if any other asset classes will be targeted.
Benefit Street sees an opportunity to strike in CRE lending, as traditional lenders shy away in the current landscape and the maturity wave approaches. Last year, CRED iQ estimated the maturity amount through securitized CRE loans to be $163 billion in 2026.
?The continued shift toward private credit solutions in U.S. commercial real estate lending is creating an opportunity set we believe is both compelling and enduring,? said David Manlowe, CEO of BSP, said in a statement.
?With our scale, experience, and disciplined approach to credit, BSP is well positioned to capitalize on today?s market environment. We are grateful for the strong support from our investors and remain focused on delivering attractive, risk-adjusted returns across the cycle.?
Benefit Street's experience in CRE lending dates back to 2013. Last year alone, the New York-based firm originated almost $9 billion of real estate investments. Today, Benefit Street has more than 300 real estate professionals in the U.S.
Also, in September 2025, Benefit Street raised $2.3 billion for a credit secondary fund to acquire senior floating rate loans.
Meanwhile, an influx of supply continues to weigh on fundamentals in the national multifamily sector. Rents have continued to decline since August, according to the latest report from Apartment List. Rents slipped by 0.8 percent month-over-month and 1.3 percent year-over-year in December to $1,356. Completions in the first half of 2025 ran 31 percent above the 10-year average.
Source: GlobeSt/ALM