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In this podcast, MSCI’s Jim Costello and Northwind’s Ran Eliasaf discuss softer headwinds for the office sector as well as the opportunity to lend on high-quality assets and perform office-to-residential conversion programs.
Lenders are willing to originate office loans, but only for the buyers of a specific profile of workplace.
The consortium of borrowers includes German institutional investors, developer SHVO and Deutsche Finance America.
The duo extend debt for four years on the office asset amid sector volatility.
The firm is targeting more RIA and family office allocations to continue investment momentum.
The live-work development’s funding includes a $155.5m C-PACE component.
Sponsors Lloyd Goldman and David Werner see the potential to convert the building at 100 Wall Street into a residential property.
The need for income means real estate private credit is becoming an indispensable allocation for investors.
Everyone agrees the office sector is under pressure, but no one agrees on where valuation is.
There will be several chapters to the story of the office sector's next recovery, says global chief investment officer David Steinbach.