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As banks seek to address commercial real estate exposure, alternative lenders are stepping in to acquire or help restructure loans.
The firm is not planning to join the ranks of investors who are seeking short-term lending solutions.
The firm has hired Jay Dunn from RFR Realty to head up capital raising and debt capital markets as it looks to execute on a heavy multifamily and residential pipeline.
The lack of the 421a abatement in New York City is not stopping the Spruce Capital lending arm from pursuing more creative redevelopment opportunities.
Approximately 83% of logistics properties were constructed prior to 2000, the firm found.
The New York-based manager will make investments in disrupted commercial real estate capital stacks.
The commercial real estate market is operating against a backdrop in which higher interest rates have caused widespread declines in real estate values – and higher loan-to-value ratios.
Join senior leaders from Trimont, Ballard Spahr, CREFC and REC USA to gain insights on advancing DE&I progress in the real estate industry.
Private credit lenders and other alternative sources of capital are already stepping in to work with national and regional banks to restructure loans.
The multifamily sector could be in the crosshairs of the coming distress.