In a recent “Capital Markets” Newsletter, Commercial Property Executive featured an article by Sanford Herrick, Case’s Founder and Managing Principal. Below is an excerpt:
“In today’s low-interest rate environment, real estate continues to be an attractive investment for people who aren’t satisfied with annual returns that are often measured in 10ths of a percent. Consequently, overall investor demand for real estate remains robust, although some asset classes are performing better than others. Office continues to show strength, with co-working spaces turning in particularly robust performanc. In late 2018, for example, WeWork became the largest private occupier of office space in Manhattan.
At the same time, however, we’ve seen some deceleration in overall multifamily. Although housing starts for the multifamily segment registered growth in February, that represents projects that were already locked in. Importantly, permits for the construction of multi-family homes—a forward-looking measure —actually dropped 4.2 percent during the month. We believe that’s due to a combination of over-saturation in some areas—though it’s not as pronounced in the New York metropolitan market—and a decreased appetite on the part of banks, which may be concerned about an over-concentration in their loan portfolio.” Click here for the full article.
Case Real Estate Capital, LLC (Case) is a commercial real estate investment company with discretionary capital. Founded in 2013 by industry veteran Sanford Herrick, and joined by industry veteran Chris Mavros in 2014, Case has made a name for itself as a market-leading, high-yield private lender in New Jersey, New York and Florida; a purchaser of sub- and non-performing debt; and a mezzanine and equity investor. At Case, we evaluate each loan, property and real estate debt purchase based on its own merits, the borrower’s or seller’s situation and business plan, and local market conditions. Our company is a respected bridge lender in New Jersey, New York and Florida. Responding to the middle market’s need for smart situational capital, we have already surpassed the $150,000,000 mark in investments and continue to ramp up activities.