Real estate asset managers Hines and Rialto Capital announced on Monday the final closing of their credit fund, Hines Rialto Credit Partners, which focuses on office properties. The fund secured US$1.1 billion in investor commitments. The co-general partnership between Hines and Rialto, launched in 2024, had already secured US$700 million in its initial funding round.
In the announcement, the partners described the closing at US$1.1 billion as proof of "investor demand for real estate credit strategies underpinned by specialist asset-level underwriting and deep market knowledge." Jeff Krasnoff, CEO of Rialto Capital, commented that this closing reflected the strength of bringing together two highly complementary platforms and the potential opportunities in the US office credit market.
Hines Rialto Credit Partners will now focus on providing capital for US office credit investments. The fund recently provided a US$228.9 million bridge loan for the refinancing of the Textile Building at 295 Fifth Avenue, owned by joint venture partners PGIM, Tribeca Investment Group, and Meadow Partners. This was reported in July. The fund's strategy also included the acquisition of debt. For example, in August 2025, the partners acquired loans worth almost US$100 million tied to three office buildings in Midtown.
Alfonso Munk, Global Co-Head of Investment Management at Hines, emphasised in the announcement that the rapid growth of the private credit market requires more precise asset scrutiny. He noted that in real estate credit, understanding the underlying asset – its value, performance, and resilience under pressure – is becoming increasingly important as the market undergoes a significant refinancing cycle. This type of transparency is crucial in any market, but especially in a more complex credit environment.
Hines and Rialto's previous joint activities spanned both US coasts. The duo provided a US$91 million financing package for Saca Development's acquisition of One American Plaza in Downtown San Diego, as reported in October 2025. Two months later, they provided US$58 million for the refinancing of Columbia Pacific Advisors' office campus in Short Hills, N.J.
