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The Miami-based firm has garnered investments from some of the biggest institutional investors including CalSTRS and Mubadala.
The concern is that when rate cuts finally happen, the magnitude of these cuts could be lower than expected.
The acquisitions are part of the firm’s focus on workforce housing.
Specialist lenders are gearing up for distress in various ways, such as creating short-term structured credit platforms to originate mezzanine debt or preferred equity.
Over the long-term, the firm hopes to have half of its portfolio in the US and other developed markets.
The transaction market remains stymied by a wide gap between buyers and sellers.
Risk mitigation remains top concern amid lower-leverage dealmaking environment.
Transaction volumes will stay subdued until bank lending standards begin to ease.
CIM Group is responding to what it sees as an upswing in business and leisure travel as the US moves past the covid-19 pandemic.
Blend and extend is the latest iteration of the 'extend and pretend' strategy frequently seen in the wake of the Global Financial Crisis.