lending

The borrower, Carter Multifamily, secured the floating-rate loans through Freddie Mac.

The speculative Somerville, Massachusetts development is scheduled for completion in 2024.

Lenders and borrowers are still making deals despite mounting concerns over the cost of capital and economic stagnation, according to George Smith Partners’ Gary Mozer.

The Charlotte-based manager is seeing banks and other traditional lenders hesitate amid volatility, but it is confident in its ability to line up debt. 

The manager will use the financing, arranged by Eastern Union, to acquire regional shopping centers in Ohio, New York and beyond.

While the US conduit market continues to be the gold standard for predictability, the agency expects the growing EMEA CMBS market will follow a more bespoke path.

The lender group originated the loan on behalf a partnership between Blackstone and Starwood Capital.

The Dallas-based manager is pivoting some of its equity vehicles to also include debt investments amid rising investor demand.

The manager is bullish about the sector, despite market headwinds.  

This emerging niche presents unique risks and opportunities for intrepid lenders.