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The program was rebooted earlier this year to raise the minimum threshold for investment.
The financing was arranged by Lotus Capital Partners on behalf of the sponsors, Miami-based manager Gencom and New York-based Mohari Hospitality.
The market will have to adjust to negative leverage by either having cap rates go up or investors willing to take a lower return.
Milwaukee, Syracuse city grid changes provide template for increasing tertiary market exposure.
Two metrics are better than one, with market participants telling us DSCR is being commonly used alongside debt yield in evaluating lending opportunities.
The firm continues to have good access to financing, albeit more expensive levels than in the past.
Rising mortgage rates and housing prices, along with new household formation, has meant demand for affordable rental housing has surged.
AFIRE survey shows reuse, redevelopment top of mind as market turbulence looms.
The busy conference halls at the Munich event belied a lull in investment activity while the industry awaits stability.
Pricing to hedge floating-rate loans against climbing interest rates is soaring amid market turmoil.