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.
The construction lending market will continue to be limited by concerns over take-out financing. However, lenders are eager to put out construction dollars, although borrowers will see tighter terms. Value is more difficult to underwrite, so expect construction lenders to be far more focused on cash flow and coverage constraints. Construction lending will be all More
See the Online Directory for complete contact information. Broadway Bank1177 N.E. Loop 410San Antonio, TX 78209Robin Badillo, VP, Private Business BankingDavid Bohne, CEO Busey Bank1901 N. Roselle Road, Suite 640Schaumburg, IL 60195Ben Huels, SBA Business Development OfficerSteve Lasiewicz, SBA Business Development Manager Byline Bank180 N. LaSalle St.Chicago, IL 60601Thomas Abraham, PresidentStephen Ball, SVP, Head of More
The CMBS lending space has had a tough couple of years. These lenders are having a hard time competing on pricing and with so few deals in the market today, things will be even tougher for the next few months. The bright side is that CMBS lenders tend to be a good option for harder-to-finance More
Capital providers will look more favorably at self-storage this year. Count on additional lenders trickling into the space, as the sector outperforms some of the more traditional property types. Lenders like the fact that self-storage has shown to be recession-proof, that most properties are cash flowing and that LTVs have not been constrained. Lenders expect More
(2023 projected origination volume and preferences) 3650 REITVolume:$500M Originated $575M total in 2022; $15M+ loans for all primary asset classes; existing asset recaps, limited development, value-add multifamily portfolios, SASB B-pieces; up to 85% leverage; typically two- to five-year terms, but may consider up to 10 years; generally non-recourse; all domestic markets ArgenticVolume:$500M$5M-$100M loans for More
Although lending will be a bit slower, look for plenty of available capital in the manufactured housing community (MHC) space this year. It will be a fluid market with the agencies, life companies, banks, CMBS, bridge and private money lenders all considering deals. However, underwriting will be more challenging, and borrowers will need to bring More
Manufactured housing community (MHC) lending is slowing because of increased interest rates and existing cap rates remaining low. However, the space continues to offer one of the most affordable housing options available. Financing will be strong as demand for affordable housing continues to grow, although underwriting criteria will tighten up with many lenders requiring experienced More
(2023 projected origination volume and preferences) Hankey Capital2023 Volume: $200MOriginated $193M total in 2022; $5M-$100M loans for entitled infill commercially zoned sites; 50%-75% LTV; Prime+ 250+ basis points; one- to two-year terms; non-recourse available; metro and coastal Southern CA UC Funds2023 Volume: $125MOriginated $100M total in 2022; $5M-$50M loans for entitled land; non-recourse; up to More
Woodshire Apartments, a Class B, 278-unit apartment property, was built in 1975. The most significant hurdle of the transaction was related to insurance. A week prior to closing, the sponsor went to market to bind coverage and despite a comprehensive and broad process, all quoted rates came in at nearly three times what had initially More
Office financing will be difficult this year and even deals with the strongest sponsors in favorable locations will be tough. Many lenders and borrowers expected office to bounce back, which has not happened yet, and it is affecting the lending environment. More
Black Bear Capital Partners20 N. Wacker Drive, Suite 3450Chicago, IL 60606Scott Modelski, Managing Director(312) 217-4511smodelski@bbcp-llc.com Black Bear closed a $18.6M loan facility to refinance two multitenant office properties located in Rolling Meadows and Glen Ellyn, Ill. The office portfolio spans over 400,000 s.f. and was financed with a five-year, 5.95% fixed-rate loan at a 70% More
Total multifamily loan volume is projected to decline this year; however, multifamily bridge lending will be robust for well-capitalized sponsors and those owning properties that have significant equity. There is expected to be a sizable volume of loan maturities on land acquisition, A&D and construction financings, which should keep bridge activity strong despite the recent More
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