Samantha Rowan
The firm has consistently been seeing $1bn-$2bn of new loans coming through every month.
A group of lenders including Wells Fargo Bank, Bank of America and Deutsche Bank is providing a $620m acquisition commercial mortgage-backed securities loan.
The hire is part of a global push to expand its commercial real estate credit platform.
Institutional investors are at or near their allocations to commercial real estate, which is also having an impact on capital raising.
The firm incorporates the potential for natural disasters, like flooding or hailstorms, into its investment calculus as it seeks to invest.
An oversupply of industrial space built during the covid-19 pandemic is presenting opportunities for redeveloping larger spaces into smaller suites.
Commercial real estate valuations are under pressure and delinquencies are rising, but most bank management teams have maintained conservative underwriting metrics.
Sponsors Lloyd Goldman and David Werner see the potential to convert the building at 100 Wall Street into a residential property.
The report, penned by senior executives Ralph Rosenberg, Billy Butcher and Racim Allouini, underscores how low interest rates are no longer the anchor for valuating commercial real estate assets.
Commercial real estate lenders are being guided by a principle that is more fraught than a fear of missing out – they are afraid of making a mistake.