Higher interest rates and looming maturities has meant that asset management and loan servicing has been a dominant theme in 2023.
Lessons learned during the global financial crisis mean that loan workouts are often smoother than they were prior to 2007. But there is still a long way to go.
Despite a surge in institutional allocations to commercial real estate debt in 2022, the first three months of 2023 saw a sluggish start, with just $800m committed to five funds in North America.
The sector is being hit by rising interest rates and other trends also affecting the broader commercial real estate debt markets.
Mezzanine debt lenders are seeing rising interest from senior lenders and sponsors to bridge the financing gaps for new and existing loans.
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.
Investors should avoid a ‘wait-and-see’ approach to the unfolding financial turmoil, says Kevin Tatro, Trimont’s managing director of special servicing
The US, UK and continental Europe offer great opportunities for alternative lenders. But it is the North American GPs that are better able to capitalize on a transatlantic strategy
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…
Banks’ withdrawal from the market as loans mature has opened a lending gap for private debt managers to fill.