Most Active Lenders/Investors

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

Bank lending will pick up steam during the second half of the year. Expect bank lenders to open to new borrowers and property types in order to get money out the door. Banks will continue to heavily target multifamily and industrial deals, but as they look for additional yield and balancing of their portfolios, they More

(2022 projected origination volume and preferences) Romspen$1.5BOriginated $200M so far this year; $10M-$160M loans for all property types; up to 75%-80% LTC, lower for hotels and healthcare; rates typically between 10% and 12%; term determined by the scope of the project, typically up to 36 months; some recourse generally required, completion and cost overrun guarantees; More

(2022 projected investment volume and preferences) KBSVolume: $500M-$1B$200M in in the pipeline so far this year; $50M-$300M equity pieces for office, industrial, multifamily and mixed-use development and infill opportunities; core, core-plus and JV development transactions; well-located business-friendly markets with solid infrastructure and the ability to attract top-tier talent   Canyon Partners Real EstateVolume: $500MInvested $75M so More

(2022 projected origination volume and preferences) Madison Realty CapitalVolume: $4BOriginated $1B so far this year; $20M-$600M+ loans for condos, multifamily, industrial, build-for-rent SFR, build-for-sale SFR, hotels; 4.5%-9% rates depending on LTC; up to 85% LTC; up to 36-month terms plus extension options; non-recourse; all major markets  Associated BankVolume: $2BOriginated $300M so far this year; $10M+ More

Hoteliers will see plenty of available capital, especially for assets with major flags in strong markets. However, hotels in some Sunbelt cities such as Phoenix, Miami and Nashville, Tenn., do not need major flags to grab financing. Debt funds will continue to be the most active lenders, although banks are getting back into the game More

Borrowers will see plenty of bridge options this year. Bridge loans will be great fit for value-add transactions, vacant properties and those that need time for repositioning and lease-up. New lenders are entering the bridge space, which will lead to more favorable terms. Bridge lenders will also start to shift toward riskier properties such as More