Samantha Rowan
The liquidity is important at a time when firms are seeing substantial demand drivers, including a paucity of affordable units in target markets and beyond.
Despite commercial real estate’s slow start to the year, Monday Properties anticipates the potential for more acquisitions and developments.
Long-term, fixed-rate deals gain new ground back toward normality with shift.
While the tone of the market feels anecdotally better, transaction activity has still not yet picked up.
The Los Angeles-based multifamily specialist believes there are not enough buyers, sellers or lenders to make a functional market.
As this shift occurs, the firm is seeing more interest from investors who like the way debt looks when stacked up against an uncertain equity market.
While there is growing interest in debt as an investment, Azelby noted the equity and the debt sides of the business remain distinct.
About 26% of all capital raised during the first nine months of the year was allocated to the sector.
It is rare for balance-sheet lenders to agree to forward commit to a project of this size given the market rate component of it.
ESG principles will gain greater traction as more lenders and investors recognize the risks associated with climate change.