Southeast

As construction financing demand returns, real estate private credit managers are picking their niches by location and type of project.

The firm has been a frequent lender on large-scale Florida developments.

The Blackstone-backed 2 and 3 MiamiCentral towers are part of a downtown mixed-use development adjacent to MiamiCentral Station.

Walker & Dunlop arranged the financing on behalf of the sponsor, TMGOC Ventures.

Regional and national bank lenders are making a welcome return to commercial real estate financing.

The funding will help recapitalize and fuel development of the 289-key Hilton Miami Beach Convention Center Hotel ahead of its May opening.

The luxury condominium property is backed by presold revenues and received competitive financing from the New York-based private manager.

The senior mortgage, accompanied by another $45m mezzanine loan facility, is being used to fund the acquisition and privatization of Sotherly Hotels.

Analysts expect to see more data center mortgages securitized through the CMBS market as properties reach post-construction stabilization.