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Retail borrowers will have plenty of financing options this year, especially assets in strong locations and those with experienced sponsors.  There were fewer retail deals funded in the last 12 to 24 months, so quality retail assets will be on all lenders’ lists.  However, lenders will continue to be cautious and dig deeper into tenant More

Multifamily borrowers will see plenty of bank lending activity this year including big players such asJP Morgan Chase, Wells Fargo, U.S. Bank, KeyBank, Citi and BofA.  Also watch for Capital One, Citizens Bank, Union Bank, Investors Bank, TD Bank, Axos Bank, Spencer Savings Bank, Umpqua Bank, Luther Burbank Savings, Banner Bank, First Republic, First Foundation More

Count on an active life company lending market this year, as lenders have fresh buckets of available money.  With so much capital in the market for the best deals, spreads have been very low, and life companies will have to be more creative in underwriting.  Look for a push toward “bridge light” lending from life More

Debt fund and private money lenders will lead the charge toward condo loans this year, while banks continue to be active but cautious.  Condo lending overall will be slightly more difficult going forward.  Sale price assumptions will be flat or decreasing, due in part to the increase of interest rates on underlying mortgages.  Count on More

Smaller players fleeing from the stock market will keep demand high for smaller multifamily properties. Returns for assets under 50 units will be relatively conservative around 6% to 9.5% cap rates or IRRs ranging from 8% to 20%. Pricing is expected to remain fierce due to less institutional money dominating the space and lower asking More

Expect more developers to turn toward stretch senior loans, mezz debt and pref equity in 2019 as ground-up returns tighten further, and institutional equity providers sit on the sidelines. The debt markets are saturated, so developers can creatively finance projects with stretch senior construction loans and minimize the amount of sponsor equity required. Multifamily fundamentals More

Small-balance multifamily lending will be robust in 2019.  There is plenty of capital chasing deals, which will lead lenders to become more aggressive.  More lenders will enter the space, and underwriting standards will loosen.  Demand for small-balance multifamily lending has increased considerably over the past few years and is expected to see continued growth in More

Construction lending will be healthy this year.  Lenders will turn toward development due to the factthat properties are trading for such high dollar amounts, while cap rates stay down.  Experienced,well-capitalized borrowers will be key.  As the interest rates creep up, watch for the equity requirement to also increase.  Borrowers will see 60% to 70% LTC More

There will be plenty of capital available for both stabilized and value-add office assets, as increased opportunities to finance office deals will result in additional lenders entering the space.  Borrowers will see 60% to 75% leverage.  Loans with maximum leverage will be priced in the 4.75% to 5.5% range.  Stabilized properties with five- to 10-year More

CMBS lenders will be competing for market share this year.  Watch for them to pick up riskier transactions as concerns about the economy will lead to more conservative life company and bank lending.  There has been some consolidation in the total number of conduit lenders as many firms have exited the space.  Expect Wells Fargo, More