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The New York-based rating agency is also forecasting a rebound in commercial mortgage-backed securities issuance in 2024.
Times of dislocation have proven to be times of innovation for the founders of five commercial real estate platforms.
As commercial real estate sponsors increasingly turn to short-term loans for near-term maturities, they are looking for lenders that can be a partner in today’s volatile market, say Aaron Krawitz and Aidan Birnbaum of Bravo Capital.
Newmark’s Jimmy Kuhn and Fried Frank’s Jon Mechanic say developers need support to convert obsolete properties.
Dallas-based Invesco’s North America head of real estate cited near-term maturities, expiring rate caps and rising insurance costs as critical issues for the sector.
Monday Properties has historically also pivoted its portfolio as markets dynamics change
The firm last month hired Kukulka, who spent more than a decade as the global head of capital markets and deputy chief operating office of the real estate and infrastructure division of the Abu Dhabi Investment Authority, to spearhead this growth.
The New York-based mortgage real estate investment trust sees a dearth of financing for small- to medium-sized borrowers in the space.
The Irvine, California-based manager will acquire properties on an all-cash basis before lining up debt when interest rates normalize.
The Miami-based workforce housing specialist has two deals in the pipeline.