Commercial real estate lenders bid LIBOR goodbye as SOFR takes center stage; Tishman Speyer goes north to obtain $900 million of finance for multi-purpose property plans; Construction lending sees major momentum in June with selective banks driving more activity; Avison Young taps company veteran for US president succession; and more in today’s Term Sheet, exclusively for our valued subscribers.
Amid mounting economic uncertainties, KBRA Credit Profile's latest data reveals a notable uptick in the KBRA Loan of Concern (K-LOC) Index for commercial mortgage-backed securities deals.
Federal Reserve rate outlook offers hope for future lending stability; Cain captures more US market share with PacWest loan portfolio buy; Senior real estate executives flag concerns on debt origination holding pattern at CREFC; Tishman Speyer gets a critical extension on $485 million New York office loan; and more in today’s Term Sheet, exclusively for our valued subscribers.
Kennedy-Wilson offloads majority stake in PacWest construction loans to Fairfax Financial in a notably quick flip; Real Estate Capital USA publishes its second annual Debt Fund 40 ranking; Park Hotel & Resorts REIT halts payments on $725 million CMBS loan tied to San Francisco hotels; and more in today’s Term Sheet, exclusively for our valued subscribers.
At the PERE Europe Forum in May, LaSalle’s Michael Zerda spoke to Real Estate Capital Europe’s Lucy Scott in a special podcast episode about the alternative lending landscape.
Difficult market conditions are causing challenges for US real estate, but Schroders Capital’s Michelle Russell-Dowe and Jeffrey Williams argue alternative lenders are set to benefit as embattled US banks withdraw from lending.
Inside: The Debt Fund 40 – meet the biggest fundraisers in US commercial real estate debt; How to capitalize on a transatlantic strategy; Expert comment and analysis from Kayne Anderson Real Estate, ArrowMark Partners and Schroders Capital; Plus much more…
Private real estate lenders need to focus on underwriting in today’s uncertain market, but there are opportunities for well-funded players offering flexibility, says Kayne Anderson Real Estate’s Andrew Smith
As the US commercial real estate market faces a wall of loan maturities – over $1.5trn over the next three years – taking a creative approach is highly important, says ArrowMark Partners’ Rob Brown.
Real Estate Capital USA presents the 2023 edition of its Debt Fund 40 ranking.