Evelyn Lee
Regional banks had stepped in to fill the void left by other lenders. Who will replace them if they stop lending, too?
SVB and Signature, along with troubled bank First Republic, had been major sources of financing for many real estate managers.
As managers and investors continue to struggle with liquidity issues, it is no longer business as usual for real estate recapitalizations.
The impact of myriad lending sources pulling back at the same time has been worse than many are willing to acknowledge.
Charles Leitner has left the investment management business of CBRE after joining the New York-based manager only three years ago.
The New York-based firm is targeting $1bn-$2bn in originations in the region next year amid a 'super-interesting time' for non-bank lenders.
The New York-based mega manager expects deployment activity to become muted but more creative dealmaking to emerge in the near term.
The firm, which has hired two executives from Cheyne Capital to lead the business, sees opportunities arising from ‘a wall of refinancing’.
The chief executive at the real estate investment bank discusses how he gets clients comfortable with investing during volatile times.
The US office glut was years in the making. Some of today’s most-favoured property types are also at risk of suffering a similar fate.