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.
Hotel lending volumes should increase in the coming months, especially as the wall of maturities gets closer. A lot of lenders have been on the sidelines, but the asset class is performing well and garnering attention from capital providers. More lenders are starting to dip their toes back in the space, although with cautious underwriting. More
(2023 projected origination volume and preferences) 3650 REIT Volume: $500M $15M+ loans for all primary asset classes; existing asset recaps, limited development, SASB B-pieces, value-add multifamily portfolio deals; fixed- and floating-rate options; partial accrual options; up to 85% leverage; typically two- to five-year terms but may consider up to 10 years; generally non-recourse; domestic markets More
C-PACE is long-term, fixed-rate, non-recourse financing that is repaid as a special assessment on the property that can fund improvements related to energy savings during construction, rehabs and/or adaptive reuse. This is a great way for borrowers to enhance leverage and is cheaper than mezz and pref equity. Current rates are in the low to More
See the online directory for complete contact information. German American Bancorp 711 Main St. Jasper, IN 47546 Ashley McCreary, VP, Commercial Banking 1854 Midland Trail Shelbyville, KY 40065 Michael Ritchey, VP, Commercial Banking Glacier Bank 202 Main St. Kalispell, MT 59901 Pete Akey, SVP, Commercial Loan Manager HAB Bank 99 Madison Ave. New York, NY 10016 Saleem More
(2023 projected origination volume and preferences) AVANA Capital Volume: $150M-$250M Funded $50M as of April 2023; $3M-$20M loans for limited-service, select-service, extended-stay Hilton, Marriott, Choice, Hyatt, G6 and Wyndham hotels with 150 or less keys; Conventional loans: 65% LTV; 36- to 60-month terms; Bridge/Construction loans: 65%-75% LTV; 36-month terms; SBA 504 Acquisition loans: up to More
There is plenty of available capital for retail, although there is still a flight to quality in the sector. Lenders will be cautiously optimistic, especially since retail is seeing low vacancies across the country as inventory is tight, which is driving rents up. Many lenders are also full on multifamily and industrial, and retail is More
Ariel Property Advisors 122 E. 42nd St. New York, NY 10168 Eli Weisblum, Senior Director, Capital Services (212) 544-9500, Ext. 41 eweisblum@arielpa.com Ariel Property Advisors arranged a $14M loan to refinance Chesterfield Village, a 156,960-s.f. shopping center in Chesterfield, Mich. The loan featured a 5.25% interest rate, 25-year amortization schedule and five plus five-year term More
(2023 projected origination volume and preferences) Hankey Capital Volume: $200M Funded ~$100M so far this year; $5M-$100M loans for entitled infill commercially zone sites; 50%-70% LTV; SOFR+ 500+ basis point rates; one- to two-year terms; non-recourse; metro and coastal Southern CA BridgeInvest Volume: $200M Funded $60M so far this year; $10M-$100M loans for urban and More
Anticipate office lending to be very challenging for the next 12 to 18 months. There will be less capital available for office until the demand equation is clearer. Underwriting will be more conservative, including lower loan to value ratios and shorter amortizations. A number of buildings are faced with underutilization due to many employees still More
See the online directory for complete contact information. Bainbridge 950 S. Winter Park Drive, Suite 320 Casselberry, FL 32707 Bob Thollander, President of Development 5956 Sherry Lane, 20th Floor Dallas, TX 75225 Shae Shults, President, Business Development HG Capital 633 Menlo Ave., Suite 200 Menlo Park, CA 94025 William Leiva, CFO Investcorp 280 Park Ave., More
Life company lenders have helped pick up the slack left behind by banks the last few months. This has led to LCs becoming choosier on what deals they will fund. Expect some life companies to meet their 2023 allocation goals during the third quarter and move to the sidelines until 2024. There will be more More
Although there has been some slowdown, construction lending overall should strengthen by year’s end. Rates should start to plateau and lenders that have been on the sidelines since the bank failures will come back to the market later this year. They will return once there is some certainty in bank lending and in order to More
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