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The loan – for a Wilmington bank headquarters – carries a term of 10 years and was originated on behalf of local manager Buccini/Pollin.
The firm’s investors like US multifamily so much they’re willing to live with current disruptions.
The Timbercreek North American Mortgage Fund will go long on short-term deals.
Monroe, which began investing in real estate in earnest about three years ago, plans to hire two more sector-focused professionals by the end of the year.
CEO Al Rabil says a heavier tilt toward direct origination will be a priority during its deployment.
While the firm uses outside data sources in addition to its own portfolio, being able to look at its assets has helped to manage risks.
The four-tranche, five-year financing is split into two components, and each was designed to address a specific part of the development.
Illustration of a rocket taking off, followed by a cloud of US dollars
Lenders are gaining the upper hand as well as the ability to build a stronger portfolio.
For investors that are picking the right spots, there is financing. But it is more difficult than it was in the past.
Balancing construction
The conduit market has also seen strong growth so far this year, but this may not continue.
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