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  • in Latest Finance Trends, Premium

    Lenders will favor self storage in 2025

    Self storage has been one of the better performing asset classes, which will lead to plenty of available capital next year. The permanent finance market is strong with both CMBS and life companies offering solid attractive options. However, bank financing, especially construction financing, is currently more difficult. Many bank lenders continue to sit on the sidelines. Expectations for the economy to improve with limited inflation risk will show confidence in the market for banks to get back into lending. More

  • in Latest Finance Trends, Premium

    Hotel lenders are checking in

    Count on more available capital for hotels in 2025 due to pent-up demand and investor eagerness to transact. Hotels will become a more preferred asset class as there is strong value potential; look for more sales activity going forward. Terms will largely stay the same, but there will be more participants willing to lend. Lenders More

  • in Deal of the Week, Premium

    Deal of the Week: Cathedral City Marketplace in Cathedral City, California

    Calmwater Capital provided short-term first mortgage debt for the acquisition of Cathedral City Marketplace, a 195,000-s.f. grocery-anchored retail center in the greater Palms Springs area. The deal needed a quick close with recently signed leases requiring good news money and time to season the rent roll, which provided some hurdles. Calmwater also had to navigate due diligence and a loan closing as the buyer was completing their own due diligence and simultaneously finalizing their business plan and acquisition. The actual loan collateral evolved and Calmwater had to work hand-in-hand with the sponsor. More

  • in Latest Finance Trends, Premium

    Retail is seeing a renascence

    Retail will continue to be a preferred product type going forward. Underwriting standards will loosen with declining interest rates. There has been so little development in retail, which has allowed the sector to maintain high occupancy. Look for a push toward new development next year. The location will not be as important going forward; as long as it’s a strong center with favorable tenants, borrowers will see available capital. Demand drivers will be key going forward. CMBS lenders are back versus a few years ago leading to more capital and competition in the space. More

  • in Latest Finance Trends, Premium

    Condo lending will build in 2025

    Condo lending will open next year, especially as rates come down. Demand will be stronger as workers return to cities where condos are more affordable and often more convenient. Underwriting will loosen as rates drop, which will be beneficial to borrowers. The biggest factor will be presales. The construction lending market for condos will be liquid, especially among the debt funds. Lenders want to see presales that support the underwritten sellout, and lenders will be leverage-sensitive due to the usage of borrower deposits in certain states, which creates additional leverage for the sponsors. There will also still be a need for condo inventory loans as developers need time to sell once they are built. More

  • in Deal of the Week, Premium

    Deal of the Week: Arden Townhomes in Warrenville, Illinois

    Arden Townhomes is currently in lease-up. All transactions with less than stabilized occupancy carry lease-up risk, which can be mitigated by diligent underwriting and market knowledge. Given the strong demand drivers in Warrenville — top rated schools, high average median incomes and a close proximity to several employers — Pearlmark was comfortable with the lease-up risk. The lender believes this investment represents an attractive mezz loan opportunity to a well-capitalized sponsor with strong local knowledge and presence. More

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