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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