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When there is a dearth of capital for a sector, that could signal a time to look at the asset class more closely, said Peter Gordon, head of US commercial real estate debt.
The financing, which comprises a construction loan and C-PACE financing, will be used to develop the second phase of a mixed-use project in Darien, Connecticut. 
A factor to consider when looking at the US multifamily market is an eventual decline in interest rates.
The New York-based lender is funding the construction of a new 477-unit, Class A rental building with ground-floor retail.
The firm’s credit platform manages whole loans, Freddie Mac products, preferred equity investments and mezzanine loans.
Puzzle bridge victory win
The firm sees the need to educate its investor base about the opportunities in real estate debt.
Barings is taking a measured approach as the commercial real estate market takes the first steps toward a recovery.  
BXMT borrowers will be able to use agency financing through M&T’s Fannie Mae and Freddie Mac platforms.
The financing replaces an $85m acquisition loan originated in 2022 on an ultra-luxury condominium development in the Miami area.
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Although originations are substantially below pre-pandemic levels, the market could be nearing a bottom.
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