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: Grocery-Anchored Retail in Mesa, Arizona

    Northpoint Shopping Center was built in 1987 and has 113,018 s.f. of net rentable area. The deal included a senior bridge loan with a construction draw. This loan funded the first of three acquisitions as a part of a 1031 exchange. While this property and the second of the three are in escrow and have certain closing dates, the third property has been a part of a litigation that may or may not be settled in time to qualify for the exchange. The solution was to put the equity component for the third property into the first property loan and make that money available for the third if and when it closes. More

  • in Latest Finance Trends, Premium

    C-PACE picks up the pace: Part I

    C-PACE is positioned for continued exponential growth, especially as the commercial real estate sector deals with higher interest rates and economic uncertainties. The increase in C-PACE adoption — as evidenced by its expansion into new states and jurisdictions, as well as the enhancement of existing programs — underscores its potential as a viable financing mechanism. More

  • in Latest Finance Trends, Premium

    Construction lending will make a comeback

    Construction lending should start to pick back up this year, although lenders will continue to be selective. Watch for lenders to be more open to retail and hotel development, while office will remain the toughest to finance. Look for lenders to put more emphasis on location going forward. They are going to be hyper-focused on basis and realistic rents. Debt fund and private money lenders will lead the pack and be the best bet for borrowers. Although, watch for life companies to re-enter the construction lending space as a way to grab yield. More

  • in Latest Finance Trends, Premium

    Mezzanine lending will pick up speed

    The mezzanine lending space will be more active this year, especially for recapitalizations, rescue capital and ground-up construction loans. There is a lot of mezz and pref equity ready to be deployed. However, the recent decline in property valuations due to higher interest rates, increased expenses and the slowdown in rental growth poses a significant challenge for those seeking to refinance maturing loans. The diminished appetite among investors to inject equity into projects this year is likely to further impede sales and new development in the short term. More

  • in Latest Finance Trends, Premium

    Lenders are dipping their toes back into SFR and BFR lending

    Expect an increase in available capital for single-family rentals (SFRs) and build-for-rent communities this year. Construction financing will be accessible for strong projects backed by well-capitalized sponsors. There is a big push nationwide toward renting versus buying, which makes lenders and equity providers confident in the space, as this is leading to a significant demand from consumers. Supply has slowed because of financing constraints and less new product has been built over the last few years. More

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