Hines-Rialto Office Credit Partnership Closes With $1.1B

Hines and Rialto Capital have closed their U.S. office credit partnership with $1.1 billion in investor commitments. Hines Rialto Credit Partners held its final close Sept. 2, the firms announced. The co-general partnership, launched in 2024, previously raised approximately $700 million at its initial close.

The strategy combines Hines’ property-level knowledge and operating experience with Rialto’s loan origination, underwriting, asset management and special-servicing capabilities. Hines has operated for nearly seven decades, while Rialto invests across real estate properties, loans and securities.

“Yield alone does not tell you the quality of the risk,” said Alfonso Munk, global co-head of investment management at Hines. Understanding an asset’s value, performance and ability to withstand pressure is increasingly important as the market works through refinancing challenges, he added.

HRCP’s recent activity includes a $228.9 million bridge loan refinancing the Textile Building at 295 Fifth Ave. in Manhattan. The partnership has also provided a $91 million financing package for One American Plaza in San Diego and $58 million to refinance an office campus in Short Hills, New Jersey.

“This close reflects the strength of bringing together two highly complementary platforms, and the potential opportunity we see in U.S. office credit,” Rialto CEO Jeff Krasnoff said.