As conventional lenders have cooled on the commercial real estate space during the COVID-19 downturn, Stan Bril, CEO of MCG, has been getting a lot more calls recently from people who need financing.
"I've had people come to me who have said that their credit line has either gotten cut, frozen or completely closed," Bril says. "It seems as though the brick-and-mortar banks are watching everything and waiting for this to blow over."
While MCG, which has facilitated nearly $30 billion in loans and has more than $400 million under management in its fund, is making loans, it is being careful.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
