Navigating Debt and Capital Markets in Commercial Real Estate, featuring Kurt Dennis of MMCC скачать в хорошем качестве

Navigating Debt and Capital Markets in Commercial Real Estate, featuring Kurt Dennis of MMCC

In this conversation, Ray and Martin discuss the current state of debt and capital markets in commercial real estate with expert Kurt Dennis, Managing Director at Marcus & Millichap Capital Corporation. They explore various financing options, lender sentiment, the impact of interest rates, and the approval process for buyers. The discussion also covers trends in recourse and non-recourse financing, creative financing solutions, and the resurgence of office financing. Kurt provides insights into the challenges faced by different asset classes and offers advice for owners facing loan maturities, concluding with an optimistic outlook for the future of real estate. Takeaways • Kurt Dennis has 25 years of experience in commercial real estate. • Lender sentiment is improving with plenty of debt capital available. • Retail is currently the best performing asset class in real estate. • Loan modifications are common as lenders navigate the market. • LTVs are generally in the 60 to 70 percent range for most deals. • Preferred equity and mezzanine debt are increasingly utilized. • Lenders are selectively returning to office financing. • Construction financing is seeing renewed interest from lenders. • Owners facing maturities should act quickly to avoid issues. • The future of commercial real estate looks optimistic with potential for growth. Sound bites "Retail is now the best performing asset class." "A lot of lenders' patience is worn out." "Next year should be the start of an up cycle." Chapters 00:00 Introduction to Capital Markets and Debt Financing 02:39 Current State of Capital Markets 05:27 Understanding Different Capital Sources 08:09 Lender Sentiment and Market Changes 10:43 Challenges in Refinancing and Creative Solutions 13:18 Interest Rates and Their Impact on Deals 15:52 Loan Approval Process for Buyers 18:53 Trends in Leverage and Recourse Options 21:39 Role of Credit Unions in Financing 24:24 Creative Financing Options 26:46 Resurgence of Office Financing 29:33 Construction Financing Trends 32:00 Looking Ahead to 2026 Reach Kurt Dennis at (713) 239-0509 | kurt.dennis@marcusmillichap.com