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The shift comes as borrowers and lenders think creatively about ways to finance transactions in a volatile market.
PIMCO-backed Columbia Property Trust defaulted on $1.7bn in February.
SVB fallout is ‘not comparable’ to regional banks' commercial real estate debt exposure, says Fed chair Jerome Powell.
Government and bank intervention has raised questions over the future of affected real estate debt.
SVB and Signature, along with troubled bank First Republic, had been major sources of financing for many real estate managers.
Bridging short-term cash shortages, this option can help borrowers buy time.
As managers and investors continue to struggle with liquidity issues, it is no longer business as usual for real estate recapitalizations.
The lending market continues to operate in an environment of low visibility for valuations.
Cain International’s US debt platform browses projects that it believes hold profound value.
The firm is looking to grow its debt platform and recently hired Dean Dulchinos as head of debt portfolio management to oversee activity.