Will Johnson
Despite widespread confusion and concern over the situation in Ukraine, most investment-grade REIT bond yields have remained attractive.
A simplified debt structure was important for the deal, says Westmont founder Cliff Booth.
The company has a $1 billion development pipeline.
Fitch Ratings is finding that older assets, like Brookfield Properties’ 175 West Jackson office in Chicago, are seeing return trips to delinquency.
The new development will be geared towards Boston’s homeless population.
Many of these bonds are yielding much more than the 10-year Treasury, which is hovering in the range of 2 percent.
Many lenders are focused on high-growth markets where life sciences and data storage are key sectors and DIGITAL drivers – trends linked to demographics, infrastructure and globalization – come into play.
The partners hope to originate more than $2bn of loans across sectors in the US over the next few years.
Conduit deals accounted for just 19% of private label issuance in 2021, down from 45% in 2020 and 81% a decade ago.
The managers are partnering to upgrade Eastchester Heights, a rent-stabilized property that is one of the largest residential communities in the Bronx.