AB CarVal Expands Multifamily Exposure with $340mln Loan Portfolio Acquisition

AB CarVal has acquired a $340 million portfolio of multifamily and single-family construction loans, expanding its commercial real estate private credit platform. North River Partners will manage the portfolio, which consists of properties in various stages of construction. AB CarVal funded $98 million worth of construction loans with North River Partners in 2025, and this transaction extends their relationship into portfolio-level investing. The acquisition demonstrates AB CarVal's ability to uncover attractive relative value opportunities across commercial real estate credit.