banks

Panelists at CREFC Europe’s London conference said uncertainty around interest rates and property values is making debt transactions difficult to underwrite.

Jones Street Investment Partners secured individual loans from Key Bank, Bangor Savings Bank and Berkshire Bank. 

Newmark arranges debt for 50-asset portfolio in burgeoning lending niche.

The apartment REIT has already lined up $350m to refinancing existing debt incurred as part of its 2012 acquisition of a 60% stake in Archstone.

The $424m deal is comprised of 11 multifamily bridge loans from the ACRE Credit I lending platform.

Dekel brought in UBS to fund the loan after a previous lender was unable to finance the acquisition for sponsor DB Capital. 

The lender funded the loan on behalf of Extell Development, with additional financing from Rexmark and Pacific Western Bank. 

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.