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Distress is rising, but there are three important things servicers, lenders and borrowers need to keep front of mind.
The national and regional banks that were once the stalwarts of the commercial real estate lending market are curtailing their activity, opening the door for alternative lenders to build new borrower relationships.
Identifying problem loans early means the potential for better resolutions, says Trimont’s Amber Sefert.
Higher interest rates and looming maturities has meant that asset management and loan servicing has been a dominant theme in 2023.
Lessons learned during the global financial crisis mean that loan workouts are often smoother than they were prior to 2007. But there is still a long way to go.
Prior to the acquisition, PacWest sold several commercial real estate loan portfolios and saw the departure of its property team.
Bank capital requirement changes and shrinking balance sheets are opening doors in multifamily, industrial and construction.
Taconic provided a mezzanine loan on the class A property.
The manager is the latest to target accredited investors via a credit-focused strategy.
Manager will pay a total of $2.07bn for asset-backed loans, and a portion of its unfunded commitments.