allocation strategy

The company closed on an $11.5 million loan commitment for a Brooklyn multifamily development after sponsors locked in pricing over the summer.

It is difficult for a borrower to determine if now is a good time to move ahead with refinancing, Singer believes.

Higher interest rates are making it more difficult for sponsors to exit properties and refinance debt.

The developer is seeing the impact of the expiration of the 421a tax abatement program.

Rising interest rates across global markets are having a cooling effect on the volume of assets changing hands and causing a lack of clarity over valuations.

Pricing is expected to reset as interest rates rise over the next 12-24 months.  

The problem around securing interest rate caps at manageable prices is one factor affecting transaction volume in the US commercial real estate property markets.

The program was rebooted earlier this year to raise the minimum threshold for investment. 

The firm is looking at opportunities in out-of-favor asset classes, with plans to deploy as much as $400m. 

Over the past 12 months, the firm has transacted on about $500m of acquisitions, evenly split between office and multifamily.