Steven McKessey Joins Rudin as Head of Design and Construction
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.
Editorial analysis · Real Estate Trail Editorial
Owner and developer Rudin has appointed a new leader for its capital planning, design and construction efforts, Commercial Observer has learned. Steven McKessey has joined the firm as head of design and construction,…
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