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The Philadelphia-based investment management company is assembling a portfolio of class A offices.
The alternative lender has hired John Omori from Bank of Hope to spearhead the initiative, which will focus on smaller, local builders in the multifamily sector.
The firm is using this strategy as a yield play to mitigate against its bigger bets in the office and retail space.
A liquidity-constrained environment has not slowed down well-capitalized managers.
Criterion Group and Columbia Pacific Advisors will use the funding for a portfolio of last-mile logistics centers across 9 states.
The manager is also seeing distressed opportunities amid tightening borrowing markets.
Basis Investment Group's Tammy Jones says commercial mortgage back securities offer a chance for higher yields in a risk-off environment, but the opportunity is transitory.
Lotus, a New York-based advisory, arranged the loan on behalf of Monroe Capital and Witkoff Group.
Borrowers and lenders alike are keeping an eye on rising levels of distress, while the industry faces roughly $1.3trn of loans slated for maturity over the next three years.
Distress is rising, but there are three important things servicers, lenders and borrowers need to keep front of mind.