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BentallGreenOak has built its commercial real estate lending presence in the US with SunLife’s backing, and its head of debt, Abbe Franchot Borok, has her sights set on further expanding its platform.
The tax could be up to 2.8% for New York City.
The financing will be used for the development of a San Francisco project.
US investors will adopt more debt and opportunistic strategies this year, says the firm’s January Investor Intentions Survey.
A group of lenders, including Blackstone and Vici Properties, are providing the financing.
The agency continues to see the rise of e-commerce as a threat to brick-and-mortar retailers.
The company has no expectations that the investment sales market will unlock in the near-term.
However, Ronald Dickerman, founder of Madison International Realty, thinks private real estate’s secular repricing is still several quarters away.
Whichever case scenario plays out, the interest rates will keep imposing a significant impact on the real estate capital market.
Building capital stacks will be very different for different sponsors in the coming year.