Samantha Rowan
The New York-based agency saw a loss severity of 48.4% in 2022, versus a loss severity of 56% in 2021.
-80x80.jpg "Cain strikes deal to acquire $1.2bn New York-area loan portfolio from PacWest")
The sale comes after PacWest sold another substantial portfolio to Kennedy Wilson earlier this month.
Carlos Slim’s Banco Inbursa funded the senior mortgage.
The firm compared the leverage and yields on the B-piece with similar metrics for preferred equity or mezzanine debt investments.
Alternative lenders are expecting to increase their market share as regional banks pull back.
Debt funds and alternative lenders step into the space left by banks, Real Estate Capital USA data shows.
Greystone arranged the financing package for 1057 Atlantic Avenue.
The transaction comes as Fortress is gearing up to expand its wealth management business.
Rising interest rates and the reality of a post-covid-19 world mean valuations and leverage across all asset classes will be reset. Keys being handed back on office deals is a an indicator that has begun.
New Atlanta-based developer is aiming for green projects in Southeast US and Sunbelt.