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Barings is providing $75m in mezzanine financing for the development of 470 Kent Street.
PGIM Real Estate, Regions Bank pros say 2023’s $6bn total rate cap reduction will be inconsequential.
Despite the slowdown in the lending market, the firm this month obtained a $36m loan for a Maine multifamily development.
Jones Street Investment Partners secured individual loans from Key Bank, Bangor Savings Bank and Berkshire Bank.
Newmark arranges debt for 50-asset portfolio in burgeoning lending niche.
A slowdown in lending activity has stalled an extremely active year for the multifamily specialist.
The apartment REIT has already lined up $350m to refinancing existing debt incurred as part of its 2012 acquisition of a 60% stake in Archstone.
Dekel brought in UBS to fund the loan after a previous lender was unable to finance the acquisition for sponsor DB Capital.
It is difficult for a borrower to determine if now is a good time to move ahead with refinancing, Singer believes.
Higher interest rates are making it more difficult for sponsors to exit properties and refinance debt.