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Nominations close on December 12 at midnight for Real Estate Capital USA’s second annual awards.
Despite the slowdown in the lending market, the firm this month obtained a $36m loan for a Maine multifamily development.
The developer is seeing the impact of the expiration of the 421a tax abatement program.
It is getting harder for New York’s mid-market office owners with maturing debt to line up new loans.
The firm is hoping to expand its equity business after a strong 2021 in which it closed more than $4.5bn across three strategies.
The manager sees the current capital markets disruption as an opportunity to hone in on increased borrower demand in markets with good relative value.
Sponsors Baron Property Group and MG Developer are planning a mixed-use, apartment property slated for completion in Q2 2024.
The firm’s total construction lending this year tops $1.6bn.
The mixed-use development includes C-PACE and pref equity components to complete the capital stack.
Debt funds and other alternative managers see room to fill the void where banks have pulled back.