Samantha Rowan
The company closed on an $11.5 million loan commitment for a Brooklyn multifamily development after sponsors locked in pricing over the summer.
It is difficult for a borrower to determine if now is a good time to move ahead with refinancing, Singer believes.
Higher interest rates are making it more difficult for sponsors to exit properties and refinance debt.
The developer is seeing the impact of the expiration of the 421a tax abatement program.
Despite a slowdown in transaction volume, debt managers are moving ahead with hiring.
Gupta sees the potential to expand the firm’s senior secured bridge and permanent loan business over the next two or three years.
The firm is seeking situations in which it can provide rescue equity or make other investments is an extension of the firm’s existing business.
Pricing is expected to reset as interest rates rise over the next 12-24 months.
It is getting harder for New York’s mid-market office owners with maturing debt to line up new loans.
The manager is looking across sectors and deal types for new business activity.