Motivated by specter of rising interest rates

Posted by on March 17, 2022 · Leave a Comment 

And somewhat surprisingly, even unpopular retail property types such as enclosed malls aren’t receiving an immediate thumbs down from lenders.

When I call a lender and say that I have an enclosed mall payday loans PA, they’re not hanging up on me anymore. They’re asking for details, Steeb notes. Retail ily or industrial, by any stretch of the imagination, but nothing is off the table.

Loan originations for retail properties increased by 73 percent in 2021, according to preliminary data from MBA. The retail sector ranked second behind industrial, which saw originations increase by 140 percent.

The increase in originations can be attributed both to acquisition and refinancing activity. Retail investment deal volume rose to $76.9 billion in 2021, an 88 percent jump compared to the previous year, according to Real Capital Analytics (RCA), a real estate data provider. RCA attributed some of that rebound to one-off entity-level transactions. However, when focusing only on individual asset sales, volume was up 65 percent in 2021 compared to 2020.

Of course, the pandemic skewed the year-over-year comparisons. To provide a more comprehensive view, consider the five years though 2019, when deal activity in the retail sector averaged $77.2 billion. Deal volume for 2021 is in line with previous trends and certainly higher than during some recent years, according to RCA. Read more

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