Real Estate Secondaries

Transactions for buying interests in established property portfolios and/or single assets from existing investors, rather than making initial originations. By buying in at a later stage through real estate secondaries, investors assume less duration risk compared to investing in a blind pool at inception. Secondary investing may provide investors with portfolio benefits including earlier return of capital, J-curve mitigation, reduced blind pool risk and the ability to purchase quality assets at a material discount to net asset value.