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The four-tranche, five-year financing is split into two components, and each was designed to address a specific part of the development.
The global law firm reckons conflict in Russia and political uncertainty in China is impacting the assets owned by large US real estate holding companies.
A three-bank consortium of Investors Bank, Oceans First Bank and Provident Bank provided the loan.
For investors that are picking the right spots, there is financing. But it is more difficult than it was in the past.
Balancing construction
The conduit market has also seen strong growth so far this year, but this may not continue.
The practice, formerly a niche financing strategy to upgrade properties, is set to become a driving force in ESG lending.
The Boca Raton-based developer sees ample lender interest in new apartment building in up-and-coming markets.
Inverted yield curve
An inverted yield curve typically precedes a recession.
Lenders are starting to better understand the dynamics of energy retrogrades and giving credit for this in pricing.
PCCP sees opportunity in the industrial and multifamily sectors, but is looking analytically throughout the broader commercial real estate market.
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