Anna-Marie Beal
The shift comes as borrowers and lenders think creatively about ways to finance transactions in a volatile market.
The financing was originated on behalf of Encinitas, California-based manager, Robert Green Company.
Bridging short-term cash shortages, this option can help borrowers buy time.
Market specialist Malcolm Davies at WAY Capital believes there is a need for more pragmatism and creativity around office conversion projects.
More debt investors are looking at financing office-to-residential conversions.
The firm is moving ahead despite volatility in the global financial markets.
The Boston-based investor and developer launched its credit platform late 2022.
The fixed-rate agency financing was arranged by Cushman & Wakefield.
Bridging short-term cash shortages, this option can help borrowers buy time.
The sponsor, Adler Real Estate Partners, will use the five-year, fixed-rate loan to recap a nine-property portfolio.