It is getting harder for New York’s mid-market office owners with maturing debt to line up new loans.
Boston manager to launch series of private credit funds with sights spanning all US asset classes
The manager is looking across sectors and deal types for new business activity.
The firm is hoping to expand its equity business after a strong 2021 in which it closed more than $4.5bn across three strategies.
Even with a more predictable lending environment, CARROLL is still expecting to see a disconnect between buyers and sellers – partly driven by the availability of debt and rates – through the end of the year.
The problem around securing interest rate caps at manageable prices is one factor affecting transaction volume in the US commercial real estate property markets.
The program was rebooted earlier this year to raise the minimum threshold for investment.
The financing was arranged by Lotus Capital Partners on behalf of the sponsors, Miami-based manager Gencom and New York-based Mohari Hospitality.
The market will have to adjust to negative leverage by either having cap rates go up or investors willing to take a lower return.
Milwaukee, Syracuse city grid changes provide template for increasing tertiary market exposure.