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Newmark arranged the loan on behalf of GFP Real Estate for the construction of a new office space for the Legal Aid Society.
Parkview Financial funded a $207m loan to acquire and redevelop the property.
Development
Rising construction costs are reshaping how commercial real estate lenders are planning for uncertainty in loan underwriting.
The EB-5 regional center program allows foreign investors to obtain US visas through investment in real estate projects that bring jobs. It was renewed in March, yet many say its renewal shouldn't be necessary.
Opportunities in multifamily, healthcare and new development create more potential in capital stack.
Low supply, high demand forces new risk profiles and equity staging.
Development
Players across the capital stack are building more barriers in deals to counter expense risk.
Though the firm is worried about the impact of rising construction costs.
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