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The Dayton, Ohio-based multifamily specialist continues to see good liquidity from regional banks.
Prior to the acquisition, PacWest sold several commercial real estate loan portfolios and saw the departure of its property team.
The city’s historic Aronson Building is being converted into a 43-story Four Seasons Residences.
Over the past two weeks, Northcap, Calmwater Capital and Benefit Street Partners have each launched or closed real estate credit funds.
Bank capital requirement changes and shrinking balance sheets are opening doors in multifamily, industrial and construction.
More sponsors are considering financing insured by the Department of Housing and Urban Development to move ahead with or refinance projects.
The advisory also tracked a substantial number of office buildings where the debt is higher than current valuations.
Dallas manager finding better debt opportunities compared to equity deals at present.
Taconic provided a mezzanine loan on the class A property.
Many institutions have retreated from direct lending in favor of the investment risk diversification offered by credit vehicles.