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alternative lenders
Goldman Sachs, US Bank, Franklin BSP executives anticipate more stress and higher debt costs.
Mezzanine debt lenders are seeing rising interest from senior lenders and sponsors to bridge the financing gaps for new and existing loans.
-80x80.jpg "Cain strikes deal to acquire $1.2bn New York-area loan portfolio from PacWest")
The sale comes after PacWest sold another substantial portfolio to Kennedy Wilson earlier this month.
The firm is using a tech-driven platform that allows it to more easily control how and when borrowers access capital.
Carlos Slim’s Banco Inbursa funded the senior mortgage.
The firm compared the leverage and yields on the B-piece with similar metrics for preferred equity or mezzanine debt investments.
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
Banks’ withdrawal from the market as loans mature has opened a lending gap for private debt managers to fill.
Now is an opportune time to be a lender, as bank retrenchment has fueled the need for alternative lenders to fill the gap.
Private real estate lenders need to focus on underwriting in today’s uncertain market, but there are opportunities for well-funded players offering flexibility, says Kayne Anderson Real Estate’s Andrew Smith