News

A Texas-based industrial real estate developer got a $34.3 million construction loan to finance a speculative logistics facility in Lakeland.

Xebec of Dallas plans to build a 537,000-square-foot logistics facility on a 60-acre site along Interstate 4.

Scheduled for completion in the fourth quarter of 2019, the logistics facility will have 36-foot clear height, 185-foot truck courts, 426 parking spaces for cars and 107 for containers.

New lenders are continuing to enter the market, especially in the bridge lending space, and the competition will mean good things for borrowers in the fourth quarter and beyond.

The fourth quarter will be a borrowers market, thanks to a growing increase of new lending sources. This year, new lenders have routinely entered the market, particularly in the bridge lending space. As a result, lenders are loosening underwriting standards and reducing spreads in order to meet production goals,

As we head into the 4th quarter of 2018 we are continuing to see the liquidity in the capital markets grow and reach a point of saturation where lenders are loosening their underwriting standards and reducing their spreads in order to remain competitive and meet production goals.

In the bridge lending space, the number of lenders continues to grow. In recent weeks we met with three new lenders that recently entered the debt fund space (we have lost track of the number of debt funds in the bridge lending space).

Prime Finance has written an $83 million floating-rate loan to finance the acquisition and stabilization of a Las Vegas office portfolio.

The loan, with a two-year term and three single-year exten- sion options, is backed by 444,000 square feet at seven proper- ties that Moonwater Capital bought from two separate sellers. Las Vegas-based Moonwater tapped Dekel Capital of Los Angeles to arrange the financing, which also included $21 million of preferred equity provided by Colony Capital of Los Angeles.

Dekel Capital, a Los Angeles-based real estate merchant bank that specializes in sourcing and placing equity and debt for active middle market commercial real estate developers and investors, today announced it recently arranged financing on behalf of Moonwater Capital, founded by Ofir Hagay, for the acquisition of 444,194 SF across seven different buildings in the West and South Las Vegas submarkets. The combined portfolio provides one of the last large blocks of significant value add Class A office space within Las Vegas and positions Moonwater Capital as the market leader in the office market in Las Vegas.

Dekel Capital, a Los Angeles-based real estate merchant bank that specializes in sourcing and placing equity and debt for active middle market commercial real estate developers and investors, has successfully placed $14 million in bridge financing on behalf of Mountain Capital Partners and Willis Development to enable sponsors to retire existing construction financing and enable continued stabilization of  Kingston Bay, an assisted living and memory care development located in Fresno, California, announced Dekel Managing Principal Shlomi Ronen.