It is difficult for a borrower to determine if now is a good time to move ahead with refinancing, Singer believes.
The financing demonstrates a belief in the return of business travel as the US emerges from the covid-19 pandemic.
Higher interest rates are making it more difficult for sponsors to exit properties and refinance debt.
The New York-based mega manager expects deployment activity to become muted but more creative dealmaking to emerge in the near term.
The developer is seeing the impact of the expiration of the 421a tax abatement program.
Despite a slowdown in transaction volume, debt managers are moving ahead with hiring.
While borrowers are already feeling the impact of higher interest rates, the low DSCRs will present a particular problem as refinancing looms.
Aegon AM analysis shows cycle peak possibly achieved amid market uncertainty.
Gupta sees the potential to expand the firm’s senior secured bridge and permanent loan business over the next two or three years.
The firm is seeking situations in which it can provide rescue equity or make other investments is an extension of the firm’s existing business.