Friend visiting from Florida to go to Ryder Cup.
He was checking Uber prices from Manhattan (West Village) to Bethpage today.
Over $400 one way for black car.
He said that was more than his round trip flight cost.
Will be fun to see how high these get over the weekend.
This was a fun one to work on. 2nd NPL with @financeguy725 in the last 12mo.
To my originators out there: Cheesy line an old boss said a decade ago. "You have to hang around the hoop."
And in this market, it is a real difference maker.
- deal went to market (no longer off…
This was a fun one to work on. 2nd NPL with @financeguy725 in the last 12mo.
To my originators out there: Cheesy line an old boss said a decade ago. "You have to hang around the hoop."
And in this market, it is a real difference maker.
- deal went to market (no longer off…
NPL I was tracking for a while paid off. Was happy for the lender, probably would have traded 75% ish of par.
Ok, what’s the point?
Turns out the lender’s capital partner in the NPL was also the capital partner behind the refi.
Different bucket of capital / side of the…
In the last 2 weeks I’ve had calls on 400mm of financing opportunities with upcoming maturities or reserves running low (4-6 mo left).
Basically all not financeable as is.
- A little over 200mm on Texas multi, sponsors imminently contemplating BK. Low 80s, high 70s vintage.…
In the last 2 weeks I’ve had calls on 400mm of financing opportunities with upcoming maturities or reserves running low (4-6 mo left).
Basically all not financeable as is.
- A little over 200mm on Texas multi, sponsors imminently contemplating BK. Low 80s, high 70s vintage.…
Come talk to me when warehouse / repos start calling the CRE debt funds.
Until then, good time to get organized on the deals you bid that didn't trade... Maybe you can pick off a few, widespread opp isn't there until margin calls on CRE debt funds.
In bank land... many still…
CMA snippet on Blackstone CRE CLO...
"Pushback on a recent Blackstone CRE CLO has resurfaced a long-standing tension between investors and issuers over note-protection features.
While Blackstone is among the biggest and most prolific players in the commercial real estate…
Working on something unique right now.
Scattered SFR.
- 400+ homes
- southeast MSA's
- 80+mm (single loan)
- 9.5 debt yield in place
How tight can this price fixed rate?
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