capital markets

As the multifamily sector has evolved into a number of distinct subsectors, lenders and investors are taking a new look at where value lies in the capital stack – and which asset classes are set to outperform.

The Vancouver-based real estate investment management company this month named John Creswell to head capital raising as it seeks to expand its lending and investment base.

The firm anticipates opportunities on the debt and equity side as the commercial real estate market moves closer to a reboot.

The New York-based multifamily investor has been looking selectively at deals, but believes rates are too high to move ahead with transactions. 

Brookfield raises concerns about Signature Bank loan portfolio sale; US Congress proposes legislation to boost workforce housing creation; lenders say the clock is ticking for borrowers with near-term maturities; and more in today’s Term Sheet, exclusively for our valued subscribers.

While the change in sponsor attitude has not yet been reflected in transaction volume, market participants are pointing to anecdotal situations over the past 30 to 60 days which shed light on the shift.

The New York-based rating agency is also forecasting a rebound in commercial mortgage-backed securities issuance in 2024.

Newmark’s Jimmy Kuhn and Fried Frank’s Jon Mechanic say developers need support to convert obsolete properties.

PERE America’s keynote speaker told members capital market dislocation means managers need to prioritize conversations with their lenders.

Dallas-based Invesco’s North America head of real estate cited near-term maturities, expiring rate caps and rising insurance costs as critical issues for the sector.