Subordinate Debt Adds to Capital Stack Maturities
“NEW YORK–Subordinate debt in a commercial mortgage-backed securities capital stack could sway maturity schedules, said Jamie Woodwell, vice president of commercial real estate at the Mortgage Bankers Association.”
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Real Estate Vacancies On The Rise
Commercial Real Estate Vacancies continue to rise, and are not expected to peak until 2011. This is causing lenders to halt CRE financing.
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For your Real Estate Project that needs funding today, Remington has the necessary resources, to get your project financed.
Development financing on hold
According to data obtained from the Mortgage Banker’s Association, The volume of Construction and Development funding is very low. This is mainly created by lenders being very cautious in this sluggish economy.
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Lenders and owners restructured $10.5 billion of troubled debt during the first quarter, up from $2.2 billion a year earlier, according the Ben Thypin, senior market analyst at Real Capital Analytics Inc. in New York. Such deals accounted for 49 percent of newly troubled and foreclosed commercial properties in the first quarter, compared with 13 percent in the first quarter of 2009. While hotels have been a main beneficiary of lenders’ willingness to redo loan terms, a 40 percent decline in commercial real estate values since the 2007 peak is also squeezing owners of office buildings, malls and apartments. An estimated $1.4 trillion in commercial mortgages will mature through 2014.
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If you are a distressed owner, of a commercial property, pay attention to the following. Remington has been in business for nearly 20 years. We work with over 500 capital sources on a daily basis. We also have the necessary expertise that is required to complete loans in a challenging economy. Remington offers specialized Distressed Owner Recapitalization programs. See them Here.
Between 2010 and 2012, more than 80 billion dollars worth of CMBS loan are coming due. In a challenging economy, most sources of capital are not loaning out for refinance. Remington is not one of those sources. People often ask me, how does Remington secure financing, when others cannot? Remington has built relationships with hundreds of private and institutional sources for close to 20 years. We also have the expertise necessary to secure that financing.
Remington offers financing programs in a challenging market
In today’s market, credit is scarce, causing borrowers to turn to alternative sources. As delinquency rates continue to rise, there are more and more distressed owners. Remington offers many different types of financing to suit your needs. We have the necessary experience and resources to secure financing in a trivial marketplace.
To review Remington’s programs, please visit www.remingtonfg.com
Brokers – Where are you loans at? It’s time to recycle your garbage.
The most conventional way for a broker to accumulate a pipeline of loans is through referrals and marketing campaigns, but what about all those loans that you didn’t get funded? Did you throw them in the garbage? If so, the garbage bin may be a good revitalization tool in this downed economy. The reason for this is that the fact still remains that your income is depicted upon the type of lending offered in the current market. That being said, go to your sources, find out what they are funding, what they have been funding recently, and then look through that garbage bin for a list of possible commissions to be earned. This is financial recylcing for all those loans that you didn’t have any placement for in the past, because they’re may be revitalized interest in that product market. Also, those previous clients may be in a different ssituation than they were in the past, and this could open new doors for their financing needs.
Pull those unplaced loans out of the garbage....
In Summary, anybody seeking commercial financing years ago may still be struggling financially. Therefore, their capital needs have increased and may be accepting of slightly different scenario’s than their initial submission structure.
Tyler D Kellett
The lights are still on in this market....
Remington is Growing
Remington continues to expand our resources and capabilities as we complete transactions in today’s market. We have money to deploy – please give me a call if your bank has said ‘no’.
Recently we’ve welcomed Donavon Ostrom, Donn Reinelt and Greg D’Herault to the Remington team.
Donavon Ostrom is Executive Managing Director of the Capital Markets Group and leads a variety of initiatives that are deepening and broadening our connections to the financing community. Welcome, Donavon!
Donn Reinelt is a managing director of the Capital Markets Group. Donn has over 20 years experience as an institutional investment consultant. He has worked directly with large and small public and corporate pension plans, endowments and foundations, and major family investment groups.
Prior to joining Remington, Donn held senior business development and consulting positions at Sciens Fund of Hedge Funds, Northern Trust – Wealth Management, and KMPG Investment Consulting Group, specializing in alternative investment solutions for U.S. and European clients.
Since 1993 Remington has helped structure billions of dollars in debt and equity financing for hundreds of commercial real estate and general business clients, particularly those unable to secure traditional bank financing. The bulk of our activity is to support our clients with financing alternatives that they can’t get anywhere else.
Donn will be responsible for identifying, expanding and managing strong and on-going working relationships with the global network of public and private capital sources at Remington and for developing and introducing proprietary real estate financing funds to institutional investors.
Please reach out and let’s talk about how we can help you. This week we’re also continuing to expand our Distressed Owner Recapitalization Program.
Tyler Kellett, Remington