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At current interest rates, many borrowers are seeking to refinance properties and lock in long-term fixed-rate financing, says Ladder Capital Finance president Greta Guggenheim. And even if rates don’t remain as favorable, there'll still be a need for refinancing, given the volume of upcoming debt maturities. (Side note: Greta will be speaking at Bisnow’s New York Investment Summit on May 17.)
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The good news is that both the senior and mezz markets have returned, and the latter will provide additional financing proceeds to allow owners to refi existing loans or simply increase leverage, Greta says. Metropole Realty Advisors recently secured a new $150M fixed-rate loan for 681 Fifth, and Ladder Capital Finance provided the senior financing placed a $25M mezz loan with Malkin Strategic Capital and Redwood Capital Trust. “There is demand for mezzanine loans for both trophy and mid-sized assets,” she says. Would you like more specifics? Join Greta and Wheelock Street Capital managing partner Rick Kleeman, Ackman-Ziff prez Simon Ziff, Meridian Capital Group CEO Ralph Herzka, MetLife head of real estate strategic initiatives Ken McIntyre, Dune Real Estate Partners partner Greg Rush, SL Green co-CIO David Schonbraun, William Macklowe Co founder Billy Macklowe, Kirkland & Ellis senior partner Stephen Tomlinson, and NAI Bluestone Real Estate Capital chair Matthew McManus. May 17. Sign up today!
WASHINGTON DC 08.16.2017

ALEXANDRIA STATE OF THE MARKET

The Premier Event on Alexandria's CRE Market

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