debt

Debt and equity capital are available for development, but institutional investors are still shying away from new construction. 

The need to refinance maturing loans and a return to transaction activity will help fuel mid-market lending growth.

The partnership is expected to align two firms’ expertise in mid-market construction financing.

The partners tapped the CMBS SASB market to refinance maturing debt.

Nuveen Green Capital issued its largest-ever C-PACE debt this week via a $290m mid-construction loan for a Tampa mixed hotel and residential development.

The category record financing will be paired with a $230m loan from Sculptor to fund Two Roads’ development of the Pendry Hotel & Residences in the Florida city.

The loan supplements $415m in Freddie Mac financing for sponsor Sunroad Enterprises.

The financing comes amid a surge in lending activity for loans of more than $100m.

Robust corporate bond issuance since the start of September is having a positive knock-on effect for commercial real estate lending.

Ontario pension OMERS’ real estate arm brings in Plesman, a former exec and now HOOPP’s real estate chief, to take over from exec chair Fournier.