The 10-year US Treasury yield fell to 1.7% by the end of the day on Tuesday as investors fled to risk-off trades.
A simplified debt structure was important for the deal, says Westmont founder Cliff Booth.
Players across the capital stack are building more barriers in deals to counter expense risk.
CEO Brian Good cites multifamily and industrial for competitive opportunities to fill bank gaps.
The company has a $1 billion development pipeline.
More liquidity is entering markets while office and retail lose luster.
Fitch Ratings is finding that older assets, like Brookfield Properties’ 175 West Jackson office in Chicago, are seeing return trips to delinquency.
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Pembrook is keeping its focus on apartments, while also considering opportunities in industrial properties and boosting its construction lending.
The new development will be geared towards Boston’s homeless population.