AB CarVal Acquires $340 Million Multifamily and Single-Family Construction Loan Portfolio
Funds managed by AB CarVal, in partnership with North River Partners, have acquired a $340 million portfolio of performing multifamily and single-family build-to-rent construction loans across seven U.S. metropolitan areas. The acquisition expands AB CarVal's commercial real estate private credit platform and marks an extension of its existing relationship with North River Partners, which will manage the newly acquired assets in various stages of development. This move follows a prior $98 million investment by AB CarVal into construction loans managed by North River Partners in 2025. Scott Greenfield, principal at AB CarVal, emphasized that this transaction reflects their strategy to identify high-quality commercial real estate credit opportunities with strong risk-adjusted returns for investors. AB CarVal is a global alternative investment manager within AllianceBernstein's Private Alternatives business and has over three decades of experience in asset-based finance. The firm currently manages approximately $26 billion in assets under management, including investments across bridge lending, construction loans, structured credit, and special situations.
Topics: construction_loans multifamily_housing private_credit_platform