Last year’s capital markets volatility considerably slowed both development and investment. In this first article of a four-part series, Connect CRE asked experts to provide clarity about what happened in 2023 and their 2024 forecasts. In the coming weeks, additional topics will focus on what projects lenders are more likely…
Capital Markets: The Rearview Mirror and the Road Ahead
Avatar Financial Provides Bridge Loan for 460-Room Hilton-Branded Hotel in Pittsburgh
Seattle-based Avatar Financial Group has provided an $8.4 million bridge loan for the DoubleTree by Hilton Pittsburgh-Green Tree hotel on the city’s southwest side. The property consists of three buildings with a total of 460 rooms. Amenities include three food-and-beverage options, indoor and outdoor pools, a fitness center and 40,000…
Private Lenders: Proceed with Caution
As we enter 2024, much has been made of how private lenders currently have the market to themselves now that regulated lenders are on the sidelines shoring up their balance sheets. But what to make of it? We’ve not seen similar circumstances since the Great Recession—but the aftermath should serve…
Leading in Tough Times: T.R. Hazelrigg IV, President and Co-Founder, Avatar Financial Group LLC
Throughout the month of August, Connect CRE is running a series titled “Leading in Tough Times.” We’ve asked leaders around the U.S. and across the commercial real estate spectrum to share their wisdom and discuss lessons learned. In this installment, you’ll hear from Avatar Financial Group LLC’s President and Co-Founder,…
Can You Fill That Bank-Shaped Void in CRE?
Regional banking crisis blocks traditional financing channels but paves the way for non-bank lenders As seen on ConnectCRE Scroll down to listen to a discussion of this article: industry leaders providing further insight and a look forward on the rising importance of non-bank lenders in commercial real estate. Since May…
4 Steps To Facilitate A CRE Loan Closing Process
Open To Close: Navigating The Commercial Real Estate Loan Process Borrowers, lenders, and their counsel rely on a loan closing checklist to keep track of documents that must be examined or prepared to finalize and close a commercial mortgage loan. This does not have to be a daunting or intimidating…
Analysis: The Fed’s Slowdown Provides Breathing Room to a Market That Needs It
The Federal Reserve’s 25-basis-point increase in the federal funds rate on Wednesday was widely expected; now the question is where the Fed—and the market—goes from here. Among commercial real estate economists and finance experts, the consensus calls for some much-needed breathing room amid a tight lending environment that is likely…
Seattle’s Avatar Provides $9M Loan for Utah Ski Mansion
Image Courtesy of Engel & Völkers International Real Estate Seattle-based Avatar Financial Group LLC (Avatar) has provided an $8.75 million bridge loan to custom home builder Iluminus Group to complete the construction of a 17,500-square-foot ski mansion in Park City, UT. The property, currently being resold for a listing price…
Hotel Construction Soaring, Making Up for Lost Time
As featured in GlobeSt.com January 24, 2023 Projects scheduled to start construction in the next 12 months are up 14%. By Paul Bergeron | January 24, 2023 All stages of hotel construction in the US experienced positive YOY growth through Q4, according to the most recent Construction Pipeline Trend Report…
Small Businesses Cope With An Historically Challenging Lending Environment
Small businesses are facing the toughest lending environment in decades as the recent Fed-initiated rate hike ripples through the economy. Over the previous 9 months, interest rates have risen by 4.25%. It is easy to forget that interest rates were at historic lows at the beginning of the year. For…
