LOCK 'EM IN

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.)
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!

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's New York Newsletters
Related Stories

Bally's Lines Up $560M Loan For Bronx Casino: The N.Y. Deal Sheet

Data Center Spills 5,000 Gallons Of Fuel Into New Jersey River

Historic Brooklyn Hotel To Be Turned Into Ritz-Carlton-Branded Condos

Downtown Atlanta Improvement Group Picks Food Bank Chief As Next Leader

Trump's DEI Crackdown Is Creating New Risks For Landlords That Lease To The Government

Taconic Partners Sheds Another NYC Life Sciences Property

Oxford Properties' U.S. Investment Head On Why It's Buying Office Again — And Where

Brandon Johnson Seeks Second Term Amid Strained CRE Relationship

25 Years After 9/11, Lower Manhattan Is Finally Firing On All Cylinders

Tishman Speyer Seeks $92M Tax Break For Next Hudson Yards Office Tower

Former CBRE Exec Suing Brokerage Giant Over Age Discrimination, Whistleblower Complaint

D.C. Investor Behind The Stacks Swaps CEO For First Time In 25 Years