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The reasons behind the drop are easy to understand: a combination of lower transaction volume, higher interest rates and the steepest inflation in 40 years.
Executives from Goldman, Blackstone, GIC, Starwood and Mack Real Estate discussed the next wave of sector opportunities at a recent NYU panel.
The hotel management company closed the deal in the last days of 2022.
Red Oak Capital, Pensam and Tower Capital are among the managers rolling out or expanding customizable programs.
The loan is backed by properties with diverse locations and tenants.
Despite headwinds around CMBS issuance, downgrade risks are not severe.
Nominations close on December 12 at midnight for Real Estate Capital USA’s second annual awards.
The report identifies a $26.5bn loan cohort maturing by the end of next year.
It is difficult for a borrower to determine if now is a good time to move ahead with refinancing, Singer believes.
While borrowers are already feeling the impact of higher interest rates, the low DSCRs will present a particular problem as refinancing looms.