Multifamily Housing

As macro forces reshape the landscape for commercial real estate fi nance, Värde Partners is anticipating ‘phase two’ of the opportunity, says Jim Dunbar.

The Tampa-based owner-operator raised more than $1bn for Sun Belt-focused multifamily investments.

The loan comes as lenders see a niche to provide financing to help sponsors complete projects.

Closings are ticking up as borrowers re-enter the market, but wider activity is still tempered.

The data-driven manager deployed the capital via its Origin Strategic Credit Fund.

The firm’s global head of real estate Ralph Rosenberg raises the question of whether the sector is in for a near-term period of significant defaults.

The JLL-arranged deal will retire existing debt for Navigation Capital Partners ahead of sales efforts.

The Slate Property Group lending arm has ramped up construction completion lending with increased demand for development capital.

Default risk in the multifamily sector is growing, catching out some managers and their investors – while creating opportunities for others.

Slate Property Group in March originated a roughly $60m loan to reignite a stalled multifamily development in the Astoria neighborhood of Queens, New York.