debt

Jesse Hom will join the firm in June as it looks to expand its real estate presence amid bank lending pullback.

The roughly 670,000-sq-ft trophy office is about 90% leased.

The Slate Property Group lending arm has ramped up construction completion lending with increased demand for development capital.

Default risk in the multifamily sector is growing, catching out some managers and their investors – while creating opportunities for others.

Berkadia arranged two of the financings, which will increase the Arkansas-based lender’s presence across South Florida.

Co-CIO Rich Kleinman says more niche categories are entering the mainstream with prior portfolio staples such as office investments in value limbo.

The multifamily sector continues to be a favored place for lenders and investors, buoyed by the supply-demand fundamentals. 

Higher interest rates continued to stall the US commercial real estate market in 2023, but alternative lenders and their investors are hopeful that opportunity will knock in 2024.

The commercial real estate market, which has been in a value correction cycle for the past two years due to higher interest rates and cap rates, will see this correction continue until interest rates settle. 

Yarbrough said he believes the market is coming closer to bottoming out and this creates strong investment opportunities