This year’s increase in real estate credit business formation and expansion gained another entrant this week. New York-based manager ORIX USA hired Dean Dulchinos as managing director and head of real estate credit with an associated initiative to build up its affiliated and third-party commercial real estate credit asset management business lines. The firm, an affiliate of Tokyo-based ORIX Group, is taking a similar tact to New York-based manager Blue Owl Capital which earlier this year brought in fresh senior talent to take up the real estate debt business reins.
“We see a broad multi-sector opportunity forming in commercial real estate transitional lending strategies resulting from the bank pull-back from the direct lending space,” Dulchinos told PERE Credit exclusively. Dulchinos joined ORIX USA from manager AEW where he worked as head of debt portfolio management from 2023 through the better part of this year, per his LinkedIn profile. He will work as a portfolio manager at the firm and develop investment products for ORIX USA and affiliates such as New York-based manager Lument, which focuses on financing multifamily, affordable housing, senior housing and healthcare assets.