Los Angeles firm closes $3.8bn of debt in 2022 across bridge, construction, mezz lines.
The Los Angeles-based duo originate fixed- and floating-rate loans of up to $100m on value-added properties.
The tax could be up to 2.8% for New York City.
Robert Lapidus, L&L president and CIO, says the firm is looking past New York for its next deals.
The fixed-rate financing will back acquisition of five US student housing assets.
A group of lenders, including Blackstone and Vici Properties, are providing the financing.
The firm also believes CMBS delinquencies could rise to top 4%.
JPMorgan, Truist, UBS remain active on originations during winter holiday season.
The firm aims to originate around $500m of transitional loans in 2023.
LOOK AHEAD 2023: Office specialists take contrarian view of future lending, investment prospects ...
The metrics from first three quarters of the year tell a different story than the past few weeks