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Good Morning Everyone

Burlington's $389M renewable energy deal grabbed headlines but the real story is how lenders are completely reinventing their playbook. Park 12's $309M San Diego deal reveals a fascinating shift – loans aren't just about cash flow anymore, but about "future-value resilience." The most intriguing part? Traditional banks are secretly becoming alternative lenders in green clothing, as shown by PGIM's seemingly conventional $142M mixed-portfolio deal that cleverly blends old-school metrics with sustainability benchmarks. Who would've thought going green would become the hottest ticket in lending?

This week's top deals and lenders plus:
💚 Industry Winners & Losers
🎯 Tips For CRE Borrowers
🔄 Opportunities for CRE Brokers, Lenders, Developers, Investors, and RE Agents
💎 New Loan Programs

Let’s dive in.

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I hope you find value in today’s newsletter if:

1) You want to know what Commercial Real Estate lenders are mainly financing
2) You want innovative insights/strategies to secure CRE debt financing.
3) You seek active Commercial Real Estate lenders to close your next deal.

Bridge Loan Guy
Top Loans of the Week

Construction Loans: Affinius Capital, Dwight Mortgage Trust, Kennedy Wilson
Refinance/Bridge Loans: PGIM Real Estate, CBRE & Pensam Capital, Affinius Capital, Northmarq
Bridge Loans: Bloomfield Capital
Acquisition Loans: M&T Realty Capital, BridgeInvest, Newmark
Renewable Loans: Brookfield and City National Bank
Acquisition Loans: Peachtree Group

Largest single deal: $389M renewable energy financing led by Brookfield

Number of states involved: 11

Sectors financed: Multifamily, Industrial/Flex, Office, Renewable Energy, Hospitality, Mixed-Use

LENDERS: If you want your top loans of the week/month featured in our next newsletter, email a press release or short description of the loan, including any relevant information, to [email protected]

Construction Loans
◾ Florida developer snags $35M C-PACE construction loan for Hollywood multifamily, as Peachtree crafts innovative 30-year green financing structure. Read
◾ Developer secures $111.5M construction financing for luxe Denver apartments, Affinius betting on Golden Triangle's growth story. Read
◾ Carr/Barings JV lands $84M for Alexandria apartments, Kennedy Wilson backing NoVA's residential momentum. Read

Portfolio Refinancing
◾ West Coast investor scores $142M for cross-state industrial portfolio, PGIM backing port-driven logistics play. Read
◾ Manhattan landlord grabs $78.4M Fannie Mae refi for LES multifamily portfolio, showing agency appetite for NYC assets. Read
◾ Georgia apartments lock in $67M hybrid financing, CBRE and Pensam structuring creative capital stack. Read

Major Acquisitions
◾ Boston investor drops $237M on NoVA apartments with $165.9M financing, M&T proving bullish on suburban multifamily. Read
◾ Partnership locks $65M Freddie Mac loan for Miami workforce housing play, betting on Live Local Act benefits. Read
◾ Waterfront investor secures acquisition financing for $83.5M Miami apartments grab, BridgeInvest backing value-add strategy. Read

Bridge Loans
◾ Texas hotelier scores $20M bridge package for PIP improvements, Bloomfield eyeing conventional takeout. Read

Green/Specialty Finance
◾ Maine solar developer powers up with $48.2M structured financing, City National Bank backing community energy scale. Read
◾ Vermont renewable player locks $389M commitment for Northeast expansion, Brookfield going long on solar infrastructure. Read

🏆 Winners 
◾ Multifamily developments with agency backing: Multiple Fannie Mae-backed deals closed showing strong appetite for stabilized multifamily assets
◾ Green energy projects: Renewable sector attracts major institutional capital and validates the growing demand for renewable energy projects, particularly in rural areas, and highlights private capital’s confidence in the sector.
◾ Industrial/office portfolios with diversification: PGIM Real Estate's $142M loan for Bixby Capital's mixed industrial-office portfolio demonstrates lender confidence in diversified, stabilized assets

❌ Losers 
◾ Transitional office properties: Challenged office assets forced to accept bridge financing with higher rates reflect ongoing struggles in the office sector, particularly in markets with high vacancy rates and slow recovery.
◾ Single-asset bridge borrowers: Properties requiring repositioning face shorter 24-month terms and double-digit interest rates, reflecting lender caution in transitional assets
◾ Under-supported retail centers: Retail projects lacking solid credit anchors secure short-term, high-rate bridge loans, reflecting lender hesitancy in the pure retail space.

📝 Current Tips For Borrowers

1. Leverage Sustainability and Resilience as a Financing Edge

   Borrowers should emphasize sustainability features in their projects, such as LEED certification, energy-efficient systems, or resilience measures. These not only reduce operational costs but also make the asset more attractive to lenders and investors.

2. Focus on Affordable and Workforce Housing

   Sponsors should explore partnerships with local governments or housing authorities to access tax credits, grants, or low-cost financing programs. Positioning your project as a solution to the housing crisis can attract both debt and equity investors.

3. Agency Leverage Strategy

   Borrowers should prioritize agency-eligible multifamily assets. These deals consistently achieve better terms and longer amortization periods than traditional bank financing, particularly in the current market environment.

💡 Opportunities

1. Brokers 
   ◾ Affordable Housing Developers Focus
   Targets: Affordable housing developers and position yourself as an expert in navigating government-backed financing programs like Fannie Mae, Freddie Mac, or HUD loans.
   Referral Partners: Nonprofit housing organizations and local government housing agencies.
   

2. Lenders
   ◾ Finance Industrial Portfolios Near Key Logistics Hubs
   Why It Works: The industrial sector is still on fire, especially properties near ports, highways, or major distribution centers. These assets are in high demand due to the e-commerce boom and supply chain resilience needs.
   Similar Target: Duke Realty, Prologis.
   Referral Partners: Supply chain consultants and commercial property managers.
   

3. Developers
   ◾ Go Where the People Are: Secondary and Tertiary Markets
   Why It Works: Big cities are crowded and expensive. The growth is happening in secondary and tertiary markets—think Boise, Idaho, or Greenville, South Carolina. These areas offer lower land costs, growing populations, and a hunger for new development.
   For Smaller Players: Look for smaller parcels in growing suburbs where you can build boutique multifamily projects.
   Referral Partners: Local economic development agencies.
   

4. Investors
   ◾ Turning Old into Gold
   Why It Works: Adaptive reuse—converting old buildings into new uses—is the ultimate sustainability play. It’s cost-effective, environmentally friendly, and often comes with tax incentives.
   For Smaller Players: Look for smaller buildings like old warehouses or retail spaces that can be converted into boutique apartments or creative office spaces.
   Referral Partners: Historic preservation organizations and environmental consultants.
   

5. Real Estate Agents
   ◾ Corporate Relocation Specialist

   Why It Works: Recent deals point to secondary market growth driven by business relocations.
   Strategy: Focus on suburbs with strong job growth and infrastructure investments and build relationships with local employers to connect them with rental options for relocating employees.
   Referral Partners: Corporate HR departments and business relocation consultants.

New Loan Programs/Lenders
◾ First Citizens Bank and Sixth Street secure innovative equipment financing solutions through collaborative capital strategies. Read


😲 Didn’t see that one coming

◾ Liberated Brands files Chapter 11 bankruptcy, announces closure of 120 Billabong, Roxy, and Volcom stores nationwide Read
◾ A&E Real Estate faces $506.3M pre-foreclosure on massive NYC multifamily portfolio through CMBS loan default Read
◾ Bargain Hunt retail chain enters Chapter 11 bankruptcy protection, plans significant store closures Read
◾ Wise hit with CFPB fine over alleged inaccurate fee advertising practices Read

LENDERS, SEND US YOUR LOAN PROGRAMS AND CLOSED DEALS AND REACH OVER 3,500 INTERESTED READERS

Our newsletter is read by hundreds of finance professionals, executives, brokers, agents, investment bankers, CPAs, lenders, CEOs, CFOs, CRE Developers, Investors, lenders, and business owners worldwide.

We would love your feedback on what information you want more of. If you have anything interesting to share or a deal that we can help with, reach out to us by sending us an email at [email protected]. Thank you for reading, and enjoy the rest of your week.

Lastly, no content provided by Bridge Loan Guy or Loans, Lenders & Leverage should be considered tax, investing, or financial advice. This email and any other content we provide are for entertainment and education purposes only. We do not claim to provide tax, investment, financial, or other legal advice. Any content provided by Bridge Loan Guy or Loans, Lenders & Leverage is the personal opinion of our owners and/or staff – you should always conduct your own research.