Shihao Feng
Refinancing opportunities continue to dominate the lending market.
Fed chair Jerome Powell’s term ends in mid-May as his expected successor, Kevin Warsh, awaits Senate confirmation.
The firm has been a frequent lender on large-scale Florida developments.
The leading sector of the commercial mortgage-backed securities market also has its B side despite strong origination momentum.
The Blackstone-backed 2 and 3 MiamiCentral towers are part of a downtown mixed-use development adjacent to MiamiCentral Station.
PERE Credit's Lending Barometer recorded roughly $31.4bn of new deals in January and February.
The benchmark rates for fixed-term mortgages were in the range of 4.2-4.3% as of mid-March, according to data from Cushman & Wakefield, and the one-month term SOFR has remained flat over the past month.
Lending volume is gaining momentum, but several factors are dragging down a true recovery.
The Denver-based manager sees an opportunity set in resolving distressed capital stacks in mid-market assets.
Potential investors see a brighter future for distressed properties as rental rates rise and job growth accelerates.