(2022 projected origination volume and preferences) Madison Realty CapitalVolume: $2.5BOriginated $1.5B so far this year; $30M-$600M+ loans for multifamily, condos, hotels, industrial, retail, office, build-for-rent SFRs, build-for-sale SFRs; up to 80% LTC; rates from 6%-10% depending on LTC; non-recourse; up to 36-month terms plus extension options; all major markets Associated BankVolume: $2BOriginated $900M so far More
Despite seeing a slight downturn in second quarter 2022, prime multifamily investment continues to increase, according to CBRE’s second quarter 2022 Prime Multifamily Underwriting Survey. According to the survey, multifamily investors have become more selective in their acquisitions amid ongoing market volatility, increased debt costs and global economic uncertainty. While bid/ask price gaps for multifamily More
Aries Capital80 S.W. Eighth St., Suite 2000Miami, FL 33131Brandon Perdeck, VP, Originations(954) 806-9378bperdeck@ariescapital.com Aries Capital closed a $17.5M construction loan for a new 1,361-unit, 100% climate-controlled self-storage facility in Santa Clarita, Calif. Aries Capital was able to bring in a bank with whom the firm has a long-standing relationship and effectively delivered the financing the More
The multifamily and industrial sectors have seen enormous growth in the last few years, and the sales in these asset classes are only set for additional expansion. Multifamily predictions: “There’s no hotter product than apartments with a triple net lease,” said Steve Ekovich, executive managing director & partner of Leisure Investment Properties Group. Investors are More
There’s no doubt 2021 was a record year for the real estate market. Despite the uncertainty caused by the pandemic, the market saw remarkable growth throughout the year, stable cap rates and plenty of capital to go around that set the stage for a strong 2022. Sun Belt states will remain hot Nearly everyone in More
Borrowers will see plenty of available bridge capital throughout the rest of the year; however, lenders will be more conservative with terms and cherry-pick the deals they will finance. The abrupt and across the board slowdown in lending has market participants concerned. Underwriting is changing and borrowers will see higher rates and lower leverage. Expect More
Greystone, a leading national commercial real estate finance company, has provided a total of $44,200,000 in Fannie Mae Delegated Underwriting and Servicing (DUS®) senior proceeds and mezzanine proceeds for the $49.5 million acquisition of a 344-unit multifamily property in Mount Prospect, Ill. The financing was originated by Dan Sacks and Eric Rosenstock, co-managing directors at More
With inflation accelerating, many will look toward commercial real estate properties as this sector is typically resistant during times of pricing volatility, according to Marcus & Millichap’s recent Research Brief. The firm notes that reflecting positive investor sentiment, sale prices across most property types grew during the last 18 months. Properties with short-term leases such More
(2022 projected origination volume and preferences) Madison Realty CapitalVolume:$1BOriginated $500M so far this year; $20M-$700M loans for all condos; up to 80% LTC, 70% LTV on condo inventory; rates starting at 5% for inventory loans, 7.5% for construction; 12- to 36-month terms; non-recourse; all major markets Parkview FinancialVolume:$550MOriginated $320M so far this year; $5M-$300M loans More
Magma Equities, in a joint venture with Prudent Growth Partners, recently purchased The Oaks Apartment Homes, a 111-unit garden-style multifamily community in the Charlotte, N.C. metro submarket of Lincolnton, in an off-market transaction, for $17.75 million. “We definitely see a changing dynamic in the multifamily market, which has resulted in a widening disconnect between sellers More
This loan will fund the construction takeout of Bear River Self Storage, a Class A 453-unit property built in 2018. The deal had some hurdles to overcome including rising interest rates, cashing the borrower out and providing additional construction money for a phase two development. Property Type: Self Storage in Salt Lake City Loan: $6.2 More
Count on a strong lender appetite for self-storage properties going forward. Self storage has moved to the top of many lenders’ lists, as this asset generally performs well during a recession or downturn. Lease-up in the sector has been stronger than predicted and tenants tend to be “sticky” and not to move much, which typically gives the property a consistent revenue stream. More
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