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Hoteliers will see available capital for construction deals if they have an experienced sponsor, a favorable location and major flag.  Look for underwriting to be more sensitive according to where the economy is in the cycle, as many are forecasting a cyclical downturn in the next couple of years.  This means there is a good More

Count on bank lenders of all sizes to be bullish in multifamily lending going forward.  Borrowers will have no problem grabbing 70% to 75% leverage.  Five-year fixed rates will be in the 4% to 4.5% range, while seven-year loans will be 4.25% to 4.75%.  Expect 5%-plus rates for seven- and 10-year terms in secondary markets More

Count on more competition in the bridge lending space as more equity shops, lenders and even owners join those whom have already made the push into the bridge world.  This abundance of liquidity will lead to more aggressive terms and underwriting.  Borrowers will see leverage pushed to 80% as lenders all compete to grab the More

There will be more equity capital in the market than the past few years, the challenge will be finding strong opportunities and sites for developers.  Expect JV equity investors to seek more development deals going forward as the value-add market becomes oversaturated.  Equity investors will be willing to take development risk in their search for More

Count on lenders to look toward land deals because of the favorable yield in this competitive market.  Some lenders are full on land for the year, which leaves room for new players to grab some strong loans in the coming months.  Watch for private lenders and debt funds to pick up any slack left behind More

Count on banks, life companies and CMBS lenders to be selective when funding office loans during the second half of the year.  Financing will be available for most office buildings of all types and sizes, but borrowers will need to show favorable occupancy histories in healthy markets/submarkets. Expect to see rates from 4.25% to 5%.  Pricing More

  Retail borrowers will see plenty of available capital from all lender types despite leverage and proceeds not being at peak levels.  Pricing for tougher deals will be driven higher because of negative retail headlines, but high-quality assets will continue to be in demand with lenders.  As sales continue to improve or remain steady, capital More

Anticipate banks and agency lenders to aggressively seek sub-$10M multifamily deals going forward. Banks have traditionally been a major player but will see more competition from GSE lenders asFreddie Mac and Fannie Mae expand their reach.  Fannie Mae has increased its focus on small-balance lending recently, which will create greater liquidity in the space.  This More

Hoteliers will see lenders become more aggressive in the permanent financing space as occupancy and RevPAR numbers show improvement.  Hotel construction financing will be more difficult and exclusively available to borrowers with solid track records and projects with sound business plans.  The market will be liquid for hotel finance and new lenders will enter the More

Keep an eye out for conventional banks to become more active in construction lending over the next year after the recent loosening of HVCRE regulations.  However, debt fund and private money lenders will continue to dominate the construction sector.  Count on lenders to be more disciplined with construction lending during the second half of the More

The recent rollback of the Dodd-Frank banking regulations should offer some relief for banks.  The changes bring clarity to certain provisions related to HVCRE loans and free up additional bank capital.  As a result, banks will be able to price and size construction loans more aggressively after losing some business to non-bank lenders due to More

Watch for ample liquidity in the senior housing debt market along with new debt funds, banks and life companies entering the space.  Lenders are aware that the numbers will be exceptional for the senior housing space over the next 10 to 15 years with the “silver tsunami” coming to the market.  Senior housing has also More