LENDING IS BACK?
The state of capital markets was in vogue yesterday at REIA’s monthly breakfast at Maggiano’s. We snapped three men no stranger to being in fashion: Aries Capital's Jeff Bucaro, Wildman Harrold's Mark Huddle, and Urban Medical Center's Leon Walker before the program. Jeff's working on financing a 21-property restaurant portfolio in the southeast with a 75% LTV non-recourse loan.
The four panelists said their companies were lending again. Cole Taylor's Tom Wallace says his bank is most interested in apartments and smaller industrial properties, but cap rates are always an issue and he's hesitant to lend at higher than 70% LTV. U.S. Bank's Rick Hartnack recently financed two healthcare office complexes, an acquisition and rehab of a hotel in the Midwest, and a 220-unit multi-family building in Spokane.