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Investment Matters: Building a Bigger Lending Platform
Manage episode 414640549 series 3180111
Το περιεχόμενο παρέχεται από το Commercial Property Executive. Όλο το περιεχόμενο podcast, συμπεριλαμβανομένων των επεισοδίων, των γραφικών και των περιγραφών podcast, μεταφορτώνεται και παρέχεται απευθείας από τον Commercial Property Executive ή τον συνεργάτη της πλατφόρμας podcast. Εάν πιστεύετε ότι κάποιος χρησιμοποιεί το έργο σας που προστατεύεται από πνευματικά δικαιώματα χωρίς την άδειά σας, μπορείτε να ακολουθήσετε τη διαδικασία που περιγράφεται εδώ https://el.player.fm/legal.
Construction financing carries a higher risk profile than most other loan categories. But even in today’s uncertain climate, some lenders are not only keeping a hand in this category but embracing it.
One example is Kennedy Wilson. In a blockbuster $4.1 billion deal last year, the L.A.-based investment company bought Pacific Western Bank's construction loan portfolio. That move helped double Kennedy Wilson’s debt origination portfolio to $7 billion.
In this episode, you'll from Tom Whitesell, who heads the debt investment group at Kennedy Wilson. He tells why construction finance is a sweet spot for the company and looks ahead to how the capital markets will respond when the Federal Reserve eventually does lower interest rates.
Whitesell gives a lender’s perspective on which assets are most attractive right now and weighs in on what makes an office building a good candidate for conversion to multifamily. Some of his answers might surprise you.
Episode highlights:
Capital market conditions: When will the Fed move? (1:36)
The ripple effect of rate cuts (3:56)
How quickly will lenders respond? (6:51)
Waiting for problem loan cleanup (8:21)
Giant steps in the CRE debt market (9:44 )
Managing construction lending risk, and how sponsors get funded (13:05)
A young lawyer's drive to be in the room where it happens (19:13)
An office-to-multifamily success story (and why they're hard to find) (25:59)
Financing industrial projects: avoiding the elephants (32:58)
The multiple demand drivers for new industrial product (35:05)
Where to find standouts in CRE’s toughest sector (37:46)
Going off the clock (40:54)
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