In an interview with Bisnow earlier this week, RXR Chief Strategy Officer and Head of Equity Capital Markets, Scott Crowe, shared his thoughts on the rise of private credit. Crowe said that RXR is working with lenders to restructure mortgages into A and B notes, take over management of the property, invest capital and bring the asset back to a healthy cash flow – a more “holistic approach” than acquiring the debt outright. Under the strategy, the lender is more likely to recoup some returns.
“We have the in-house capability to understand, underwrite and manage the risks associated with the underlying asset that we’re lending against,” said Crowe.
