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.
Lenders are still targeting multifamily deals, especially in markets with high barriers for new development. This will continue as long as high residential mortgage rates continue to force people to stay in rental housing versus buying a home. Multifamily lending will be more about sponsorship and location than seen in the past few years. More
(2023 projected origination volume and preferences) Axos Bank Volume: $2B $500K+ loans for high-end SFRs and one- to four-unit properties; investment properties only; 70% leverage; 3%-3.30% over AMERIBOR 30T or SOFR rates; nationwide First Bridge Lending Volume: $450M Funded $100M so far this year; $500K-$10M loans for owner-occupied bridge, rentals, flips; 65% LTV; 9.5% rates; More
Count on the total commercial real estate lending and borrowing to fall to $654B in 2023, which is a 20% drop from the $816B total in 2022, according to an updated baseline forecast recently released by the Mortgage Bankers Association. More
Colliers 1717 McKinney Ave., Suite 900 Dallas, TX 75202 Shawn Givens, Vice Chairman (214) 217-4868 shawn.givens@colliers.com Colliers closed a $3.25M loan for a Walgreens in Georgia, as well as a $5.25M loan for a multifamily property in Bloomington, Ind. The firm also closed a $1.58M loan for a multitenant retail property in Allen, Texas. Draper More
This credit tenant lease (CTL) single-tenant deal is a Walgreens that was built in 1996 and encompasses 16,187 s.f. located on Constitution Avenue in Colorado Springs. The main hurdle of this deal was that the borrower had to execute a 1031 exchange acquisition. More
Life companies will be some of the most active players for the next few months, as many banks continue to stay on the sidelines and the CMBS market remains tough because of high pricing. Watch for life companies to be pickier on what deals they will choose going forward based on their perceived risk. More
(2023 projected origination volume and preferences) Greystone Volume: $3.5B-$4B ~$766M closed and signed up so far this year; Healthcare bridge: $10M-$250M+ loans; up to 80% LTV; SOFR+ low 400 to high 500 basis point rates; 24- to 36-month terms; negotiable recourse; nationwide; Multifamily bridge: $10M-$100M loans; 65%-75% LTV; SOFR+ 300-400 basis point rates; non-recourse; two- More
Watch for life companies to be some of the most active players for the next few months. Turmoil in the banking market has led to a pickup of life company lending. Even with this increase in activity, most life company lenders themselves expect overall volumes to be down. More
Borrowers will continue to see strong lender demand for industrial. However, the industrial market might start to soften as some spec supply will be coming online this year. Despite any hurdles, industrial will still be a favored property type and lenders will stretch underwriting in order to win the deal. Class A strong credit tenant deals will see aggressive rates, while riskier deals will much be harder to price than six months ago. More
See Online Directory for complete contact information. CRE Bridge Capital 549 Randolph St., Second Floor Chicago, IL 60661 Daniel Sobelman, Managing Partner First Citizens Bank 4300 Six Forks Road Raleigh, NC 27609 Lee Hayes, SVP, Commercial Banker First Citizens Bank 2600-162nd St. S.W. Lynnwood, WA 98087 Jason Shirley, SVP, Commercial Banker First Horizon 333 Fayetteville More
Construction lending slowed during the first half of the year, especially after the recent bank failures put a strain on the banking market. There are also concerns about take-out financing and how to underwrite property values in today’s environment. However, borrowers will start to see more available construction capital in the coming months. Lenders will More
The single-family rental (SFR) and build-for-rent (BFR) space continues to be very liquid as lenders seek alternative lending channels to deploy capital into a relatively safe space. Lenders are well-capitalized but are being extremely cautious and scrutinizing deals more heavily than in the past. More
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