Amid the pandemic, lenders are still looking hard at industrial, multifamily and some office deals.
But beyond that, other asset classes are drawing interest—and in some cases lenders are even willing to stretch their comfort level. For instance, James Millon, vice chairman, Debt and Structured Finance at CBRE, said on the company's "The Weekly Take" podcast that his firm participated in a life science conversion of a traditional office building at 345 Park Avenue South in New York City.
Millon says lenders did not understand the infrastructure required to attract the lab tenants and that a life science project could exist outside of a traditional hub, like Cambridge.
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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.
