North River Partners will manage the portfolio of multifamily and single-family build-to-rent construction loans

NEW YORK, Sept. 14, 2026 /PRNewswire/ — Funds managed by AB CarVal, an established global alternative investment manager and part of AllianceBernstein’s Private Alternatives business, in conjunction with North River Partners, have acquired a $340 million portfolio of 10 performing multifamily and single-family, build-to-rent construction loans in seven U.S. metros, continuing to expand the firm’s commercial real estate private credit platform.

North River Partners, an existing partner of AB CarVal, will manage the portfolio, which consists of properties in various stages of construction. AB CarVal funded with $98 million worth of construction loans with North River Partners in 2025, and this transaction extends that relationship into portfolio-level investing.

“This transaction expands our footprint in multifamily construction credit and demonstrates our ability to uncover attractive relative value opportunities across commercial real estate credit,” said Scott Greenfield, principal with AB CarVal. “We continue to leverage our flexible mandate and broad sourcing network to acquire what we believe to be high-quality assets that may generate compelling risk-adjusted returns for our investors.”

About AB CarVal

AB CarVal manages asset-based finance investments anchored in the real economy, including whole loan portfolios, forward flow agreements, specialty finance platform investments, commercial real estate loans and structured credit. Drawing on nearly three decades of experience investing across the capital stack in commercial real estate, AB CarVal focuses on real estate debt deals across bridge and construction lending, structured credit, and special situations.

AB CarVal is an established global alternative investment manager and part of AllianceBernstein’s Private Alternatives business. Since 1987, AB CarVal’s team has navigated through ever-changing credit market cycles, investing $162 billion in 5,905 transactions across 82 countries. Today, AB CarVal has approximately $26 billion* in assets under management. Additional information about AB CarVal may be found at www.abcarval.com.

*AUM is comprised of fee-earning AUM and fee-eligible AUM. Fee-earning AUM includes those assets currently qualified to generate management or performance fees. Fee-eligible AUM includes capital that is committed to an AB CarVal investment vehicle but is currently uncalled or recallable. Both figures include assets that may not be generating management or performance fees solely due to AB CarVal’s decision not to charge fees. AUM includes capital from an insurance-dedicated fund that invests in underlying funds managed by AB CarVal. To the extent these investments are included in the underlying funds’ AUM, such assets are included only once in AUM.

Media Contact: Carly Symington, Carly.Symington@alliancebernstein.com

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SOURCE AB CarVal