Morgan Stanley Warns of CRE Storm;, Alternative Lenders Eye Market Opportunities

This week, the nonperforming loan on Soho Properties’ luxury condo tower at 45 Park Place in Tribeca is being marketed for sale; billionaires Vlad Doronin and Len Blavatnik score a $243M loan for Aman in Miami Beach; and we bring you the latest on the Commercial Real Estate Finance Council (CREFC) conference in Miami. This week: A Morgan Stanley report warns of major dangers to CRE as the banking crisis fallout persists, Richard Litton on HGI’s new multifamily lending platform, and New York City is at a crossroads. Private CRE Lenders Forecast Partly Cloudy Future as Morgan Stanley Warns of Hail Private lenders remain optimistic that the industry won't face the same reckoning as it did 15 years ago, despite Morgan Stanley's outlook. [Read More](   Top Deals Of The Week   - Triangle Equities [Seals]( $136M Recap for Queens Air Cargo Warehouse - Tavistock [Lands]( $175M for Pier Sixty-Six Redevelopment in Fort Lauderdale - PIMCO Provides $94M [Construction Loan]( on Queens Logistics Project - MetLife Investment Management Refis [Cincinnati Apartments]( With $60M Loan - Richman Nabs $28M Refi for New [Boca Rental](     Q&A   Harbor Group International’s Richard Litton On Multifamily and the Best Debt Right Now Harbor Group International's Richard Litton explains goals behind launching a senior lending platform and its near-term multifamily strategy. [Read More](   People Moves   New Multifamily Development Firm Launched by Ron Terwilliger Mentees Two multifamily real estate veterans trained under real estate mogul Ron Terwilliger — former CEO of Trammell Crow Residential — have formed a development firm focused on rental housing assets across the Sun Belt. [Read More](   Guest Column   Meet the New Normal in Commercial Real Estate Investment As a new normal comes into view, many real estate sponsors and investors will revisit their capital strategies to adjust accordingly, writes Joseph Sellars, a senior attorney in the real estate department and real estate finance group of law firm Ballard Spahr. [Read More](   Other Stories From This Week   Alternative Lenders Spy an Opportunity in Banking Crisis Alternative lenders will still have trouble competing on scale with even regional banks in the current climate. [Read More]( New York City’s Commercial Real Estate Future at a Crossroads: Panelists New York City's ongoing recovery from the COVID-19 pandemic faces possible new roadblocks that could shape its long-term business future. [Read More]( Government Sector’s Office Policies Put $26B in CMBS Debt at Risk $26 billion of outstanding commercial mortgage-backed securities loans are tied to 1,365 national properties occupied by tenants of federal, state or municipal governments [Read More]( Debt Ceiling Debate Puts Multifamily Owners in Tough Spot: JPMorgan The potential for a U.S. default if Congress can’t reach a deal to raise the federal debt ceiling by its summer deadline raises the stakes for multifamily property owners to proactively prepare for worst-case scenarios from an accelerated rising-rate environment, a new JPMorgan Chase report stresses. [Read More]( Multifamily Property Sales Plummet as Sector Continues to Cool While the multifamily sector has maintained its crown as the most coveted asset class these past few years, a new research report indicates a distinct cooling in the asset class. [Read More]( CMBS Delinquency Rate Increases in March The delinquency rate for commercial mortgage-backed securities increased for the second consecutive month in March to 3.77 percent, according to data from CRED iQ. [Read More]( Wall Street Bonuses Fall to Pre-Pandemic Levels A new report from New York Comptroller Thomas DiNapoli found the average bonus paid to securities-focused employees on Wall Street fell 26 percent in 2022. [Read More](     What We're Reading This Week   - As interest rates rose, [banks]( did a balance-sheet switcheroo [WSJ] - Are offices truly worth as little as [REITs]( imply? [Bloomberg] - Inflation’s inventory gluts are [here to stay]( and will hit the bottom line in weaker economy: CNBC Supply Chain Survey [CNBC.com]   [View this email in a browser](. If you believe this has been sent to you in error, please safely [unsubscribe](. [Share with a Friend]( Visit the [Commercial Observer]( for the latest commercial real estate news. For advertising information, [download the media kit](. © Copyright 2023 [Observer Media]( 1 Whitehall Street, Floor 7, New York, NY 10004