Targets Over $1 Billion of Committed Capital

PHILADELPHIA, May 11, 2026 /PRNewswire/ — Corten Real Estate is pleased to announce the launch of a new senior credit program established in partnership with a leading U.S.-based life insurance company. The program focuses on originating primarily first-lien mortgages and, on a selective basis, senior secured mezzanine loans for multifamily, hospitality, office and office-to-residential conversions across the United States. By adding a specific senior lending capability, Corten is positioned to serve borrowers and capital partners across a wider range of market conditions. The Firm projects growing this program to over a billion dollars of committed capital.

“The contraction of traditional real estate credit has created a meaningful opportunity for disciplined private capital providers that can combine speed, certainty, and structuring expertise,” said P.J. Yeatman, Managing Partner of Corten. “This senior credit program allows our firm to support high-quality sponsors and assets with balance sheet capital, without reliance on underlying leverage. We believe that combination is highly differentiated in today’s market and particularly valuable for borrowers seeking certainty of execution.”

Initial investments in this separately managed account include a $105.5 million senior first mortgage for Broad + Noble, a Class-A high-rise multifamily property located in Philadelphia and a $173.2 million first mortgage bridge loan for Vermeer, a Class-A high-rise multifamily apartment complex located in Washington, D.C.

Corten Principal Matthew Kattler added, “Broad + Noble and Vermeer reflect the core of what we are building through Corten’s senior credit platform, which are high-quality, relationship-driven originations backed by institutional-caliber sponsors and well-located assets with durable fundamentals. In both transactions, we were able to deliver tailored senior financing solutions with the certainty of execution our partners require, reinforcing Corten’s role as a flexible and solutions-oriented capital partner.”

The Broad + Noble property is a 2024-vintage, 344-unit, Class-A high-rise multifamily apartment complex located at 435 North Broad Street, with close proximity to Philadelphia’s Central Business District. It features numerous amenities, including a rooftop sky lounge, state-of-the-art fitness center, co-working spaces, ground-floor retail and structured parking. The property is owned by a joint venture between affiliates of one of the largest residential developers in the country and a notable family office.

The Vermeer property is a 2025-vintage, 501-unit, Class-A high-rise multifamily apartment complex located at 113 Potomac Ave SW in Washington, D.C.’s Capital Riverfront. It features numerous amenities, including a state-of-the-art fitness center, multiple rooftop decks with a resort pool, a co-working lounge, ground-floor retail and structured parking. The property is owned by a joint venture between affiliates of one of the largest residential developers in the country and a prominent real estate investment management firm.

About Corten Real Estate

Corten Real Estate is a dynamic real estate investor/operator that targets middle-market assets across the United States impacted by varying financial, operational, or strategic pressures. The Firm specializes in creating unique capital solutions – utilizing both debt and equity instruments – to address situations faced by a variety of stakeholders.

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SOURCE Corten Real Estate