IREI reported that investors have a growing interest in private debt, and a diversity of real estate debt funds have developed products for any situation. The private debt market cap stood at approximately $300 billion in 2008, and is now approaching $1.25 trillion at the end of 2022. Where are the opportunities ahead? “The best opportunities will be the purchase of performing and nonperforming debt,” predicts Josh Zegen, managing principal and co-founder of Madison Realty Capital. “For example, lending to other lenders who need leverage on their portfolios to help deal with repo or repayment issues from lines of credit. Also, borrowers that need to complete a project that may have timing delays or cost overruns.”

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