Here is an excerpt of Jon’s recent investment column in Commercial Property Executive:
“With asset bubble concerns in equity and property markets, stalled CMBS 2.0 issuances and pending regulatory changes that will affect conventional real estate lenders later in 2016, the first quarter of this year saw meaningful gyrations in real estate capital markets that caused lenders of all stripes to re-assess their appetites for risk.
While fears in certain segments of the capital markets seem to have abated in the second quarter, many of the “easy” credit terms available for complex assets in 2015 have tightened, resulting in liquidity constraints in the bridge lending space. This market pivoting has posed challenges to holders of non-cash-flowing assets in particular, leading many sponsors to ask: How can we ensure funding when seeking project development bridge loans in today’s capital markets?”
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