News:
Brokerage
Posted: May 28, 2024
Lancewood Capital provides a $60 million credit facility to a New York-based alternative commercial real estate lender
New York, NY Lancewood Capital, a Greenwich, CT-based family office focused on senior real estate credit opportunities, provided a $60 million senior credit facility to a New York-based commercial real estate lender. Lancewood Capital has emerged as a sizeable provider of senior financing to alternative real estate lenders making first lien loans in the $2-50 million space. The firm provides revolving credit facilities and one-off note-on-note financing for first lien alternative real estate lenders, a business historically conducted by banks. The Lancewood lender finance platform was established to provide alternative real estate lenders with flexible and competitively priced leverage that provides the lender with certainty of execution.
Vice president of real estate Justin Godner, who helped co-found the lender finance platform in 2020, said, “The disruption in both the credit and equity markets and more specifically in the banking sector in 2023 and 2024, has allowed the family office to establish many new lender finance relationships. We are excited about the establishment of this new credit facility and remain committed to the lender finance investment strategy.” The facility will leverage first lien loans secured by multifamily, mixed-use, condominium, light industrial, and single-family investment properties located in larger markets in NY, FL, and CA.
Lancewood continues to establish lender finance relationships with alternative commercial real estate lenders in New York, California, and Florida. In the past 6-months, Lancewood has closed a $60 million credit facility for a NY-based lender, a $35 million credit facility for a FL-based real estate lender, and over $75 million of other one-off note-on-note investments. The underlying first lien loans are secured by multifamily, mixed-use, light industrial, condominium, and SFR spec properties within larger markets in New York, Florida, and California.
Tags:
Brokerage
MORE FROM Brokerage
AmTrustRE completes $211m acquisition of 260 Madison Ave.
Manhattan, NY AmTrustRE has completed the $211 million acquisition of 260 Madison Ave., a 22-story, 570,000 s/f office building. AmTrustRE was self-represented in the purchase. Darcy Stacom and William Herring
.jpg)
Quick Hits
Columns and Thought Leadership
Strategic pause - by Shallini Mehra and Chirag Doshi
Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent
Lasting effects of eminent domain on commercial development - by Sebastian Jablonski
The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account
Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian
Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.
AI comes to public relations, but be cautious, experts say - by Harry Zlokower
Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,
.gif)