Conduit lenders are showing an increasing appetite for smaller-sized loans, at least on assets in the Washington, DC-area. One broker, Phil Mudd with Cassidy Turley, dates this shift in interest to the beginning of fall. “For the last couple of months I have noticed that lenders, especially conduit lenders, have been much more interested in these kinds of transactions,” Mudd tells GlobeSt.com.
Cassidy Turley, he reports, is in the process of marketing seven smaller-sized loans with an aggregate value of $35 million. According to Mudd, “There is a significant level of interest in these from both the conduits and regional banks.”
This appetite for smaller-sized deals is less so for life companies, although exceptions can be made. Mudd, along with colleagues Christian Miles and Brad Geiger, recently closed on a small loan from a life company for Empire Apartments, a 151-unit, eight-story building located at 2000 F St., NW, on behalf of an investment entity controlled by Calvin Cafritz.
Read more...GlobeSt.com - Smaller Loans Back in Vogue with Conduits - Daily News Article
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