Miami-based 3650 REIT just announced a partnership with the California State Teachers’ Retirement System to form a $200 million joint venture focusing on bridge and short-term real estate financing. The new fund will provide loans for ground-up construction, recapitalizations, acquisitions and repositions in some U.S. markets where traditional capital is unavailable. After the initial $200 million commitment from the CalSTRS, the joint venture could receive a additional commitment of $300 million in the future, according ... [more]