IRVINE, CA—Increasing interest rates and cap rates may impact the number of properties that will trade hands and on borrowers' ability to get the rates and leverage levels that they have enjoyed over the past few years, Money360's president Gary Bechtel tells GlobeSt.com. The marketplace-lending firm closed a record $35.6 million in commercial real estate loans in December 2016, the result of ongoing growth of the company.
December's transactions reflect short-term bridge loans for a mix of property types, including retail, office and industrial in California, Florida and Illinois. A total of five properties were financed including a one-story suburban office building in Irvine, CA; a three-building industrial complex in Richmond, CA; a seven-building anchored retail property in Orlando; a three-story suburban office building in Palm Harbor, FL; and a three-story office property in Rosemont, IL.
We spoke with Bechtel about what the New Year will bring for investors and borrowers.
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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.
