• While corporate credit is key, realestate fundamentals must
• While corporate credit is key, realestate fundamentals must be present: Market rents, market pricing for $/sf of building, etc. • Current rates vary between 5% to mid 6% for recourse money but some lenders will do non-recourse at low leverage at roughly 7%+. [...] • The large premium for purchasing a realestate asset that includes an income stream has been largely eroded. • As an alternative to the CMBS market, lenders and capital sources are actively working on a solution but it will take some time to form a new and proven product.
Malibu condos
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