The index stood at 19.12% in May, compared to 18.09% in March.
The Real Estate Capital USA Lending Barometer tracks non-securitized senior mortgage and mezzanine and preferred equity financings across markets and sectors.
Pension funds have committed $935bn to managers in the first half of this year.
Inside: How alternative lenders are filling the hole being left by banks; Avrio’s Vicky Schiff on green lending; An 11-page special report on loan servicing; Plus much more…
Distress is rising, but there are three important things servicers, lenders and borrowers need to keep front of mind.
Balloon loans originated 10 years ago on small and mid-market properties are facing near-term maturity dates.
Higher interest rates and looming maturities has meant that asset management and loan servicing has been a dominant theme in 2023.
Lessons learned during the global financial crisis mean that loan workouts are often smoother than they were prior to 2007. But there is still a long way to go.
Despite a surge in institutional allocations to commercial real estate debt in 2022, the first three months of 2023 saw a sluggish start, with just $800m committed to five funds in North America.
The sector is being hit by rising interest rates and other trends also affecting the broader commercial real estate debt markets.