refinancing

Balloon loans originated 10 years ago on small and mid-market properties are facing near-term maturity dates.

Northwestern Mutual funded the loan. 

Goldman Sachs, US Bank, Franklin BSP executives anticipate more stress and higher debt costs.

The Los Angeles-based manager is targeting $3bn for its Real Estate Debt Fund IV.

MetLife, PacLife and Bank ABC were also part of the syndicate for the SL Green-owned property.

The New York company also sees a longer road to recovery for the city's CRE market.

Paradigm Advisory Group, formed by Raymond Chalme and Daniel Blanco, aims to help lenders and borrowers stabilize the value of New York’s office and residential assets.

CEO Mukang Cho says the firm will target structured debt investments in the office sector.

With loans maturing and banks retrenching, alternative lenders are seeing more refinancing deals. But ‘a lot of them we see just don’t work.’

REIT chief executive predicts more distress, refinancing creativity and preferred equity use.