Hines and Rialto Credit Partners’ Debt Fund Closes at $1.1B

Real estate asset managers Hines and Rialto Capital announced Monday the final close of its office-focused credit fund Hines Rialto Credit Partners, which reached $1.1 billion in investor commitments. 

The co-general partnership between Hines and Rialto launched in 2024 and secured $700 million in its first close. The partners’ Monday announcement called the $1.1 billion close an indication of “investor demand for real estate credit strategies backed by specialized asset-level underwriting and deep market expertise.”

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

Hines Rialto Credit Partners will now focus its energies on deploying capital toward U.S. office credit investments. The fund recently supplied the $228.9 million bridge loan for the refinancing of the Textile Building at 295 Fifth Avenue by joint venture owners PGIM, Tribeca Investment Group and Meadow Partners, CO reported in July. 

The fund’s strategy has also included debt acquisition. In August 2025, the partners snapped up nearly $100 million in loans tied to three Midtown office buildings, The Real Deal reported.

Alfonso Munk, Hines’ global co-head of investment management, said in the announcement that the rapid growth of private credit requires greater scrutiny of assets.

“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 as the market works through a significant refinancing cycle,” Munk said. “That kind of visibility matters in any market, but particularly in a more complex credit environment.”

Hines and Rialto’s shared activity thus far has spanned both coasts. The pair provided a $91 million financing package for Saca Development’s acquisition of One American Plaza in Downtown San Diego, as CO reported in October 2025, and two months later supplied the $58 million debt to refinance Columbia Pacific Advisors’ office campus in Short Hills, N.J.

Emily Davis can be reached edavis@commercialobserver.com.