Cerberus Sells NNN Finance Unit Tenet Equity to CBRE Investment Management for $1.6B
Why this matters
Capital markets activity continues to be defined by the rotation from bank balance sheets to non-bank lenders. Private credit funds have raised record dry powder; banks have tightened CRE underwriting standards for the sixth consecutive quarter. The result is a market where well-sponsored deals clear, and marginal credit pays a meaningful spread to do so. For LPs, the allocation conversation has shifted decisively toward real estate debt, with equity allocations being deployed more selectively into operator-led platforms.
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On the RET wire
- 103 stories mentioning CBRE on the wire in the past 90 days. CBRE coverage →
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Cerberus Capital Management, L.P. has sold Tenet Equity to CBRE Investment Management, which is making its investment on behalf of several of its investment strategies, for $1.6 billion. Founded in 2021, Tenet provide…
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