Murphy Real Estate Services is that extremely rare breed of developer that has been able to maintain its access to community bank financing, which is probably the lowest cost of capital available on the market. Unfortunately for many, though, these banks have been significantly scaling back CRE lending in the face of mounting industry woes and increased regulatory scrutiny.
"We have been quite active because of our ability to raise capital," says Managing Director Chris Horney, who is also a participant in GlobeSt.com's net lease event being held next week.
Currently the firm has six assets on the market and a couple under contract.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
