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PPM America’s Commercial Real Estate Team Reaches Significant Milestones
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Rhea-AI Summary
PPM America Inc. has achieved significant milestones in its Core Plus Real Estate Debt Strategy, marking a three-year track record and surpassing $500M in structured loans. The figure now stands at over $650M in total assets with average loan sizes of $25M. The strategy targets enhanced returns through first mortgage and subordinate debt for commercial properties, particularly in markets with stable growth. PPM manages $7.2B in commercial mortgage loans, with a 10-year average of $1.4B in annual originations.
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Achieved over $500M in structured loans, establishing a strong lending platform.
Total assets in the strategy exceed $650M with an average loan size of $25M.
Focused on lending to commercial properties in stable growth markets, enhancing potential return.
Effective team management with 33 members averaging 28 years of real estate experience.
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Achieves 3-Year Core Plus Track Record; Surpasses $500M in Structured Loans
CHICAGO--(BUSINESS WIRE)--
PPM America Inc.'s (“PPM”) Core Plus Real Estate Debt Strategy recently achieved two key milestones: a three-year track record and over $500M in structured loans (bridge and mezzanine). The hire of Mark Kramer from BlackRock in late 2018 drove the development of the current Core Plus Real Estate Debt Strategy. His experience and expertise proved pivotal as PPM expanded its lending platform capabilities beyond its historical focus on core loans. The strategy now has over $650M in total assets averaging approximately $25M in loan size with exposure across all major property types.
Mark Kramer, Senior Managing Director, Commercial Real Estate at PPM America (Photo: Business Wire)
The strategy seeks enhanced returns on first mortgage and subordinate debt on pre-stabilized and light transitional commercial properties by lending to middle-market and institutional sponsorships in markets with stable fundamentals or incentives for long-term economic growth in the US. Additionally, the predominantly floating rate nature of the loans provides a hedge in an inflationary environment.
Established in 1995, PPM’s Commercial Real Estate Team has 33 dedicated members (all centralized in Chicago) with senior leadership averaging 28 years of real estate experience and 19 years average firm tenure. Overall, the team manages $7.2B in commercial mortgage loans and has averaged $1.4B in annual originations over the past ten years.
“We are truly proud to see the hard work of our team and the investment in the right resources result in these significant achievements,” said Kent Born, Senior Managing Director, Head of Commercial Real Estate. “Clients choose PPM to add value and diversification to their portfolios across various market conditions, including upward rate movement cycles. With the strength of our broker and borrower relationships in more than 50 markets coupled with the right infrastructure in place to monitor risk from both a macro and property level, the team is appropriately positioned to grow this strategy for our clients going forward.”
For more information on the Core Plus Real Estate Debt Strategy, please contact Mark Kramer at mark.kramer@ppmamerica.com.
About PPM America
Our mission is to be indispensable to our clients.
Founded in 1990, PPM is a US-based institutional asset manager with $75.60 billion in assets under management as of March 31, 2022. We have the expertise to provide client investment solutions in public fixed income, private equity and private debt. Our investment approach is guided by team-based values and our firm size allows us to remain nimble and investment-led. PPM’s Commercial Real Estate team was established in 1995 and focuses on commercial mortgage loans, commercial mortgage-backed securities (CMBS), unsecured REIT debt, and other real estate debt investments. For more information, please visit PPM’s website at ppmamerica.com/our-strategies/commercial-real-estate.
PPM is an indirect, wholly owned subsidiary of Jackson Financial Inc. (“Jackson”, NYSE: JXN), a publicly traded company. Jackson is a US retirement services provider with market leadership supported by its diverse portfolio of differentiated products, efficient and scalable operating platform and industry-leading distribution network.
