Most Active Lenders/Investors

(2022 projected origination volume and preferences) Associated BankVolume: ~$4BOriginated ~$2.2B so far this year; $10M+ loans for multifamily, office, industrial, cautious with retail and hotels; less than five-year terms; 75% leverage  Pacific Western BankVolume: $3BOriginated ~$1.8B so far this year; $40M-$200M loans with a focus on multifamily, student housing and industrial, as well as life More

LEM CapitalVolume: $175MInvested $57.8M so far this year; $15M-$30M JV equity where LEM represents 50%-85%; value-add Class B multifamily deals; 16%-18% investment level IRRs, 1.8x-2.0x investment level equity multiples; infill suburban locations in high-growth markets; MSAs with one million+ people  Parse CapitalVolume: $150MInvested $60M so far this year; $10M+ pref equity and $20M+ JV equity More

The hotel industry has returned to more normal levels, as pandemic restrictions continue to loosen and both leisure and business travel resumes. Rising rates could actually spur hotel lending since these properties have already been trading at higher cap rates than other assets such as multifamily and industrial. This put hotels in a better positioned More

(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

(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

After a slow start to the year, CMBS lenders hope for a busier second half of 2022. The main problem being able to compete on terms. Leverage levels have dropped and rising rates have caused even more uncertainty in the market. However, CMBS lenders will be a great option for borrowers looking to fund risker More

More and more borrowers could start turning toward mezzanine loans as a way to fill the capital stack. As rates rise, leverage levels are dropping from senior lenders and borrowers are scrambling to find subordinate debt to help fill the gap. Mezzanine lenders will be active in the four main food groups, as well as More

(2022 projected origination volume and preferences) Axos BankVolume: $300MOriginated ~$150M so far this year; $750K-$250M loans for all land deals; 12- to 24-month terms with extensions; 6%-7% rates; nationwide  Hankey CapitalVolume: $200MOriginated $75M so far this year; $5M-$150M loans for infill land zoned for high-demand uses such as housing; one- to three-year terms; 7.5%-9% rates; More

(2022 projected origination volume and preferences) Thorofare CapitalVolume: $1BOriginated $350M so far this year; $15M-$100M loans for industrial/warehouse, grocery-anchored retail, cold storage, low/mid-rise office, data centers, BFR, multifamily, for-sale condos, single-tenant net-leased properties; six-month to two-year terms; SOFR+ 600-650 bps rates; Phoenix, Denver, Southern CA, Boston, Portland, Ore., Dallas, Austin, Miami, Atlanta, Salt Lake City, More

Borrowers will see plenty of available bridge capital throughout the rest of the year, especially for multifamily and industrial deals. Rising rates will most likely lead to lower leverage and stricter underwriting than seen the past few years. Bridge lenders will look closer at exit debt yields and future rent projections. They will target deals More

(2022 projected origination volume and preferences) CoreVest FinanceVolume: $3BOriginated $1B+ through May 1; $500K-$100M+ bridge and term loans for non-owner occupied SFRs, condos, townhomes, multifamily; non-recourse available; Rental Portfolio Loans: up to 75% LTV; applicable five-, seven- or 10-year Swap rate+ 250-500 bps; five- to 10-year terms; Bridge Loans: up to 80% LTC; one-month SOFR+ More

(2022 projected origination volume and preferences) Voya Investment ManagementVolume: $5.5BOriginated $2.2B so far this year; $15M-$150M loans for all the major asset classes plus self-storage and MHC; 50% core lending and 50% core-plus lending; top 50 MSAs Pacific LifeVolume: $3BOriginated $1.55B so far this year; $40M-$500M loans for multifamily, industrial, necessity-based retail, limited hotels and More