The acquired portfolio includes properties at varying stages of development, signaling a push by the AllianceBernstein subsidiary to capture value in the commercial real estate private credit space. By scaling its relationship with North River Partners, AB CarVal aims to capitalize on high-quality construction assets that offer attractive risk-adjusted returns.
AB CarVal Acquires $340 Million Multifamily Construction Loan Portfolio
A $340 million portfolio of 10 performing construction loans across seven U.S. metropolitan areas has been acquired by AB CarVal, deepening the firm’s commitment to the multifamily and build-to-rent sectors. This strategic move builds upon a prior $98 million venture with North River Partners, who will oversee the assets.
Scott Greenfield, a principal at AB CarVal, noted that the transaction highlights the firm's ability to identify opportunities within the credit market by leveraging its flexible mandate and sourcing network. AB CarVal currently manages approximately $26 billion in assets, drawing on a history of investing $162 billion across 82 countries since its inception in 1987. This latest acquisition reinforces the firm’s focus on asset-based finance and specialized debt deals in an evolving real estate landscape.
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