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Real Estate Journal — Fall Preview — September 30 - October 13, 2016 — 3C
M id A tlantic
M ortgage
By Brenner Green, Real Property Capital, Inc. The current commercial mortgage market
2 016 is proving to be the year of shifting sands in capital markets. As I cov-
development loans as we are permanent loans, but banks are not making “crazy” loans like they were maybe twelve or so months ago. If you read some market commentary, you would think development financing is becoming down- right hard to get. Certainly things have shift- ed around substantially in terms of what the “hot” type of money may be over the course of the year, but there is far more good news than bad for borrowers. There are multiple quality sources for well thought out loan requests
and we enter the fourth quar- ter quoting cash-out CMBS loans with coupons between
best clients. The client was averse to CMBS and was looking for a cash-out balance
across just about all asset classes and loan types. Hope- fully what we are seeing is a mature state of the capital markets as lenders adopt to the new regulatory landscape. A little tempering will help ex- tend the recovery and the good times real estate investors are currently experiencing. R. Brenner Green is a 18 year veteran in commer- cial real estate finance and President of Real Property Capital, Inc., a full ser- vice commercial mortgage banking firm based in the Philadelphia suburbs. n
ered closely throughout t h e y e a r , the CMBS market has been noth- ing short of a whipsaw. As 2015 drew to a close and
“Certainly things have shifted around substantially in terms of what the “hot” type of money may be over the course of the year, but there is far more good news than bad for borrowers.”
3.90% and 4.25%, multiple years of interest-only, and best of all, easy closings. Meanwhile, back in the world of commercial banking, we just wrapped up collecting bids for a refinance assign- ment on behalf of one of our
sheet loan, from a bank, non- recourse. Upon presented the offers the client seemed dis- appointed and we discussed the market. He noted that it seemed like banks have pulled back. My response was that we are doing as many
we entered 2016, most borrow- ers had left securitization for dead, a victim of shaky world markets (think oil crash) and over regulation that make it impossible to do business (think Dodd-Frank). As they always do, the Wall Street guys figured a “work around” Brenner Green
Upcoming 2016 Spotlights:
Recently Closed Loans
October 14th: Insurance/Title Deadline: Oct. 5th October 28th: Executive Women Deadline: Oct. 14th November 11th Lenders Directory Deadline: Oct. 28 November 25th Professional Services Deadline: Nov. 11th December 9th Tax/Accounting Deadline: Nov. 25th December 23rd Annual Review Deadline: Dec. 9th
$3,460,000 $3,500,000 15-Unit Multifamily Construction Holiday Inn Express Acquisition Industrial/Office Refinance Philadelphia, PA Lima, OH Norristown, PA 68% LTV, 18 Months, 4.75% 70% LTV, 10 year, S + 315 bps, Non-Recourse 75% LTV, 7/25, 4.15% $8,500,000
Real Property Capital is a Philadelphia based full service commercial mortgage banking firm with a regional focus and national capabilities. Our business model emphasizes client satisfaction through a high-touch, analytical approach that distinguishes us from the competition. Learn more about our distinct approach and proven track record of success at www.realpropertycapital.com. FOR MORE INFORMATION: R. Brenner Green, President 303 Harry Street • Conshohocken, PA 19072 • 610-456-9644 • bgreen@realpropertycapital.com
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