CMBS Deep Dive, KKR’s Ralph Rosenberg and Sun Belt Distress

CMBS Deep Dive, KKR’s Ralph Rosenberg and Sun Belt Distress This week, there’s a sense of optimism and hunger across the capital markets system as we feature a lengthy deep dive into the resurgent CMBS universe, including why the biggest players in commercial real estate keep coming back to this finance vehicle despite all the headaches that accompany it. We also have an exclusive interview with KKR’s Ralph Rosenberg, who is all in on 2024 being the year when CRE transactions start to coalesce around valuations. CO also has detailed features on how multifamily investment in the Sun Belt states has suddenly slowed, why banks are looking to sell large loans off their balance sheets, and what will happen to the office market now that once-dependable clients like financial services firms, insurance companies and real estate companies are backing out of office space. Oh, and we also have a gaggle of big loans for you to examine. Till next week, dear reader! Why CMBS Financing Has Come Roaring Back in Commercial Real Estate Three decades after its creation, here’s why commercial real estate still reaches for CMBS financing despite the headaches when things go south. [Read More]( Top Deals Of The Week   - Madison Realty Capital Loans [$485M]( to Recapitalize 625 Fulton Street - Affinius Capital Makes $160M Refi for [Construction](, Stabilization for 101 Fleet Place - JP Morgan Provides $71M in Refi Loans on Three[Brooklyn]( Industrial Properties - Affinius Capital Makes $58M Acquisition Loan for [San Bernardino]( Industrial Property - [Goldman Sachs]( Makes $97M in Construction Financing for Palmetto Apartment Development - RBC Supplies $72M Refi on [Nebraska]( Mixed-Use Project People Moves   Matthews Adds Andrew Marcus as First NYC Capital Markets Hire Matthews Real Estate Investment Services has hired Andrew Marcus from Dansker Capital Group as the brokerage’s first capital markets hire for its year-old New York City office. [Read More]( Q&A   KKR’s Ralph Rosenberg Is Not Sitting on the Sidelines Starting from zero, KKR now has some $70 billion of real estate assets under management. Rosenberg sat down with CO to explain why he believes that 2024 is the year when the transactions will start again, interest rate anxiety notwithstanding. [Read More](   Other Stories From This Week   Sun Belt Multifamily Investment Momentum Slows Amid Oversupply Worries The multifamily market in America’s Sun Belt once seemed like one of the surest bets in commercial real estate investment. It’s not anymore, but that doesn’t mean the clouds are going to spoil the party. [Read More]( FIRE Tenants Are Not Spreading as Much in Manhattan Financial firms, insurance companies and real estate operations had long propelled the nation's premier office market, but are now backing off. [Read More]( Lenders, Especially Banks, Are Starting to Sell a Lot More Loans on Office Buildings Amid high interest rates and stubborn vacancies, lenders appear to be offering to sell substantially more loans secured by commercial real estate properties. [Read More]( RMR and AEW’s Downtown D.C. Office Slated for Foreclosure Joint venture owners Office Properties Income Trust — managed by The RMR Group — and AEW defaulted on their mortgage at 1750 H Street NW. [Read More]( What We're Reading This Week   - [Las Vegas](, land of the single-family home, is going all-in on condos [WSJ] - Developers sit on empty lots after [historic]( apartment boom [WSJ] - See inside [Ford’s]( new tech campus, a century-old Detroit train station restored for $950 million [CNBC]   [View in Browser]( | [Advertise]( | [Forward to a Friend]( [Manage your email preferences or unsubscribe]( [Share your thoughts: Help us improve with our quick feedback survey!]( [Commercial Observer]( © Copyright 2024 [Observer Media]( 1 Whitehall Street, Floor 7, New York, NY 10004 This newsletter was published 06/06/2024