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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 New York-based multifamily investor has been looking selectively at deals, but believes rates are too high to move ahead with transactions.
The firm hopes to provide mezzanine and preferred equity financing for sponsors in its target markets which are facing short-term capital challenges.
Post Brothers lined up $312m in financing for the property. The transaction was the largest single-asset financing on a market-rate property in the US in more than 14 months.
Related Companies and Blackstone are among reported bidders for the failed bank’s commercial and multifamily lending portfolios.
The New York-based rating agency is also forecasting a rebound in commercial mortgage-backed securities issuance in 2024.
Times of dislocation have proven to be times of innovation for the founders of five commercial real estate platforms.
As commercial real estate sponsors increasingly turn to short-term loans for near-term maturities, they are looking for lenders that can be a partner in today’s volatile market, say Aaron Krawitz and Aidan Birnbaum of Bravo Capital.
Newmark’s Jimmy Kuhn and Fried Frank’s Jon Mechanic say developers need support to convert obsolete properties.