LADERA RANCH, CA—Lenders are beginning to lower the maximum loan-to-value and increase debt-service-coverage ratios, keeping rental-rates flat and allowing landlords to reserve for tenant improvements in case a property needs to be repositioned during the term of the loan, Money360's president Gary Bechtel tells GlobeSt.com. The technology-enabled direct lender specializing in commercial real estate loans closed more than $100 million in loans in Q3, bringing the company's total loan closings to over $450 million, with a target of $600 million in transactions by year-end.
We spoke with Bechtel about the lending market for retail in particular, which is undergoing a reinvention.
GlobeSt.com: How would you characterize the lending market for retail at this time?
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
