In a period of uncertainty, CRE multifamily landlords are reevaluating their finance options.
Mitchell Clarfield, executive vice chairman of Newmark's Multifamily Capital Markets Debt & Structured Finance group, said that players in the industry are making the switch from high variable loans that are over-levered, to shorter-term debt. They are mostly five-year executions now, according to Clarfield, who will be a speaker at GlobeSt.'s multifamily conference in mid-October. Plus, preferred equity, and joint venture structures, are also being deployed.
The goal is to lower costs. And those who are paying high rates right now might look to refinance, which is where Newmark is seeing a lot of activity, particularly.
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.
