Sara Havlena

Havlena is the editor-in-chief of Crittenden Real Estate magazine and The Crittenden Report: Real Estate Financing, Retail Tenants Report and the Multifamily Report and their respective websites. She has been an editor with Crittenden since 2007 and worked on a variety of real estate publications during her time at the company covering a wide range of topics from restaurant expansion to real estate developers. She has been the lead reporter and editor of Crittenden’s flagship publication, The Crittenden Report, since 2011. She has a degree in Print Journalism from Cal State Fullerton, and resides in Orange County, Calif.

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  • in Deal of the Week, Premium

    Deal of the Week: BLAK Cheyenne Industrial in Las Vegas, Nev.

    BLAK Cheyenne Industrial is a 56,000-s.f. Class A property built in 2024. This deal faced two significant challenges: The submarket is experiencing substantial expansion — with 8% of existing industrial inventory currently under construction — and the property had low in-place cash flow at the time of underwriting. RRA Capital overcame these hurdles by focusing on the property’s strong long-term potential, supported by its pro forma stabilized debt yield. The lender trusted that potential issues could be proactively mitigated by leveraging the sponsor’s deep market expertise. More

  • in Latest Finance Trends, Premium

    Bank lenders are planning a cautious comeback

    Keep an eye out for bank originations to increase in 2025 as more banks come back into the market. Strong underwriting and quality deals will be key factors in getting loans done. Even with this pick up, banks will remain selective due to elevated interest rates, regulatory scrutiny and economic uncertainty. Large money-center banks are active and offer attractive rates but with high credit/underwriting criteria, while regional and community banks are slowly re-entering the game. Some community and regional banks have delinquent loans on their books that they have been extending and pretending for more than 12 to 18 months and rates are not low enough to heal these loans just yet. More

  • in Latest Finance Trends, Premium

    Senior housing will see increased lender vitality in 2025

    Watch for modest increases in senior housing lending this year. Occupancy is stabilizing and inflation and labor pressures have softened in the space. Private pay Class A assets will continue to lease-up and post strong rent increases as incoming supply screeches to a halt. Development capital will still be difficult to find because of interest rates and construction prices. The agencies will continue to be the primary source of permanent financing for senior housing. Also, keep an eye out for a small number of life companies, banks, private money lenders and debt funds that will fund senior housing deals. More

  • in Deal of the Week, Premium

    Deal of the Week: Avondale Logistics Center in Avondale, Arizona

    Thorofare Capital provided the floating-rate senior loan to refinance Avondale Logistics Center, a 2024-vintage 86,372-s.f. Class A warehouse/distribution building in Avondale, which is part of the South Goodyear submarket. The bridge loan was used to refinance the existing construction lender, as well as provide the sponsor with funds to complete construction and subsequently lease-up the asset. More

  • in Latest Finance Trends, Premium

    Construction lenders are returning to the game

    Construction lending will increase due to the continued absorption of supply, and the number of construction lenders could double in 2025. Watch for more big banks to re-enter the market, although their terms will vary. The all-in rate for bank construction is lower than debt funds and private money lenders; however, with limited dry powder, the banks are reserving capital for their best development customers. Private lenders, debt funds and select regional banks will likely remain the most active, as they often have more flexibility in structuring deals. More

  • in Finance News, Premium

    The top 5 things to watch in 2025

    Many lenders and equity providers spent most of 2024 in a wait-and-see mode. High rates, inflation worries and political uncertainty around the election all contributed to many capital providers sitting on the sidelines. Expect things to start moving in 2025 with increases in both investment activity and overall lending. Many lenders should start to re-enter More

  • in Deal of the Week, Premium

    Retail Sale of the Week: Publix in Dacula, Georgia

    Watkins Real Estate Group of Atlanta sells a newly constructed Publix-anchored neighborhood shopping center for $25 million. The property is located in Gwinnett County, one of the fastest-growing submarkets of Atlanta. Hanley Investment Group represented the 1031 exchange buyer, a private investor based in San Diego. CBRE represented the seller. More

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