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Rising interest rates are creating challenges for commercial real estate sponsors, complicating the refinancing of existing debt amid a shrinking lender pool, says Locust Point Capital's Eric Smith.
Nominations close at midnight on Friday November 17 2023 for Real Estate Capital USA’s third annual awards and a shortlist will be announced on Monday, December 4.
New Jersey manager continues West Coast lending momentum with agency deals for the Sobrato Organization.
The New York-based banking giant has been working to actively reduce its balance-sheet exposure to the sector since the start of the year.
Continued lack of liquidity in banking system leaves private credit lenders to fill financing gaps.
The index stood at 19.73 percent in July, compared to 19.35 percent in June.
The Real Estate Capital USA Lending Barometer tracks non-securitized senior mortgage and mezzanine and preferred equity financings across markets and sectors.
Legislative changes planned by the US Federal Reserve, Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation would affect banks with more than $100bn in assets.
Negative headlines in the mainstream press may center on other pressure points, but market participants are focused on the possibility of further rate increases.
Leverage helped to fuel acquisitions, refinancings and returns over the past cycle. Now, lenders and borrowers are working to adapt to a new reality.