lending

Sponsor Domain Companies is taking advantage of new zoning in the gentrifying Brooklyn neighborhood.

The funding is split into a $67.6m mezzanine loan and a $147.5m senior loan.

The firm recently expanded in the Pacific Northwest, hiring Blake Rodgers to head its new Seattle office. 

About a quarter of the New York-based private investment platform is focused on the real estate sector. 

The borrower, Carter Multifamily, secured the floating-rate loans through Freddie Mac.

The speculative Somerville, Massachusetts development is scheduled for completion in 2024.

Lenders and borrowers are still making deals despite mounting concerns over the cost of capital and economic stagnation, according to George Smith Partners’ Gary Mozer.

The Charlotte-based manager is seeing banks and other traditional lenders hesitate amid volatility, but it is confident in its ability to line up debt. 

The manager will use the financing, arranged by Eastern Union, to acquire regional shopping centers in Ohio, New York and beyond.

While the US conduit market continues to be the gold standard for predictability, the agency expects the growing EMEA CMBS market will follow a more bespoke path.