Hines and Rialto close $1.1B office credit fund
What's the deal? Real estate asset managers HinesDealroom has a profile for this one. Try Dealroom → and Rialto CapitalDealroom has a profile for this one. Try Dealroom → announced Monday the final close of Hines Rialto Credit PartnersDealroom has a profile for this one. Try Dealroom →, an office-focused credit fund, at $1.1 billion in investor commitments. The co-general partnership launched in 2024 and secured $700 million in its first close.
What's the endgame? The fund now focuses on deploying capital toward US office credit investments. Its strategy spans both new lending and debt acquisition.
Track record: The fund supplied a $228.9 million bridge loan in July to refinance the Textile Building at 295 Fifth Avenue for owners PGIMDealroom has a profile for this one. Try Dealroom →, Tribeca Investment GroupDealroom has a profile for this one. Try Dealroom →, and Meadow PartnersDealroom has a profile for this one. Try Dealroom →. In August 2025, the partners bought nearly $100 million in loans tied to three Midtown office buildings.
The pair has also been active on both coasts, providing $91 million for Saca DevelopmentDealroom has a profile for this one. Try Dealroom →'s purchase of One American Plaza in San Diego and $58 million to refinance a Columbia Pacific AdvisorsDealroom has a profile for this one. Try Dealroom → office campus in Short Hills, New Jersey.
Why now? Alfonso Munk, Hines' global co-head of investment management, said asset-level scrutiny matters more as the market works through "a significant refinancing cycle." He added that in real estate credit, "understanding the underlying asset — what it is worth, how it performs and how it may hold up under pressure — is becoming increasingly important."
The signal: The close points to steady investor appetite for real estate credit, even in the troubled US office sector. As Rialto CEO Jeff Krasnoff put it, it reflects "the potential opportunity we see in U.S. office credit."
Image credit: Ken Lund
