Bank Financial Services

Michael Berman will shift from chief executive to executive adviser, as M&T taps Michael Edelman as his successor.

The banking giant’s CFO said the firm ‘made substantial progress’ in selling down its commercial real estate balance sheet portfolio in 2023.

The $308m loan is expected to be sold for a 50% discount.

Non-bank lenders signal strong appetite to capture market share at the industry group’s annual conference in Miami.

Following its integration with Credit Suisse, the Swiss bank’s investment arm has promoted Jon Hollick to head of global ex DACH real estate.

London Bay will use the funding for the first phase of a Ritz-Carlton development in Bonita Springs.

The long cycle has meant a dearth of workout specialists as lenders and borrowers seek to modify loans.

Hines and Urban Street Development will use the financing for the first phase of a multifamily, office and retail project.

The long cycle has meant a dearth of workout specialists as lenders and borrowers seek to modify loans.

Real Estate Capital USA’s most popular stories of the year included its annual ranking of real estate debt funds, in-depth analysis on borrower strategies to extend loans and in-depth interviews with senior industry executives.