– Benefit Street Partners (“BSP”), a leading credit-focused alternative asset manager, announced the final close of BSP Real Estate Opportunistic Debt Fund II (“ODF II”).
– ODF II provides $10 billion of investable capital, including related vehicles and anticipated leverage, supported by $3 billion of equity commitments.
– The fundraise caps a historic year for BSP’s commercial real estate team, which originated nearly $9 billion of real estate investments in 2025.
– ODF II focuses on originating senior and junior commercial real estate debt investments across major U.S. markets, with a particular emphasis on the multifamily sector.
– The strategy leverages BSP’s integrated credit platform and longstanding relationships with borrowers, sponsors, and intermediaries nationwide.
– The fund targets middle-market opportunities where flexible capital and deep underwriting expertise can unlock value in transitional, distressed, or complex commercial properties.
– “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, Chief Executive Officer of BSP.
– “We appreciate the trust our investors have placed in BSP, reflecting their conviction in our platform and in the opportunities present across the real estate lending market today,” said Michael Comparato, Senior Managing Director and Head of Real Estate at BSP.
– BSP’s real estate debt platform has been active in commercial real estate lending since 2013.
– The platform includes more than 300 dedicated real estate professionals in the United States.
– BSP has originated more than $30 billion of real estate investments.
– The firm maintains relationships with top-tier operators and institutional sponsors across major U.S. markets.
