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Commercial real estate valuations are under pressure and delinquencies are rising, but most bank management teams have maintained conservative underwriting metrics.
PERE Credit tracked 115 new commercial real estate loans totaling $14.96bn in May and June.
Trimont is using traditional and new methods to help lenders and borrowers re-align their portfolios, says Christina Brodeur.
Lenders are increasingly extending loans – but only if there is a real path forward.
Good candidates are those who can think past the end of the term of a loan.
The manager reckons the current market dynamic is resulting in two key trends – one is acquiring loans directly from Fannie Mae.
The ongoing banking pullback is the building blocks for this activity, said Alan Purser, global head of capital formation.
Mitigants include a relationship approach to banking and exposure in well-known markets, said Joseph Scott, senior managing director at KBRA.
The New York-based alternative investment manager picks up more real estate debt and equity capabilities as part of $450m deal.
Goldman Sachs’ newly originated loan on the retail component of 680 Madison Avenue in New York demonstrates the changing opportunity set for the sector.