Greystone Commercial Mortgage Capital, an affiliate of CRE finance firm Greystone, and Inlet Real Estate Capital formed a joint venture "to provide short-term, floating rate capital solutions for commercial real estate owners," a press release notes.
The venture, Greystone Inlet Real Estate Capital, is targeting CRE owners who either have currently distressed properties or ones that are facing potential trouble. From what many in CRE have told GlobeSt.com lately, that could include a lot of people and companies that are readying themselves for their own Black Friday.
The uptick in inflation, with the Federal Reserve kicking up its baseline interest rates that are sharply pushing up financing costs, could leave many whose business plans depended on low rates and high leverage with a difficult immediate future.
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