borrowers

The developer is seeing the impact of the expiration of the 421a tax abatement program.

While borrowers are already feeling the impact of higher interest rates, the low DSCRs will present a particular problem as refinancing looms. 

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.

Rising interest rates across global markets are having a cooling effect on the volume of assets changing hands and causing a lack of clarity over valuations.

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 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.