At the onset of the pandemic more than three months ago, thecapital markets instantly froze amid extreme market uncertainty.Today, some of the dust has settled—although uncertainty remainsthe primary market characteristic—and the is pent up capital andmany lenders actively lending on new deals.

"One of the major misconceptions about the capital markets rightnow is that there is a lack of available capital," StephenStein, managing partner at Tauro CapitalAdvisors, tells GlobeSt.com. "In reality, there is pent-upcapital and lenders interested in providing loans right now. Thecapital markets have certainly not been shielded by the impacts ofCOVID-19 and some lenders are being a bit more conservative intheir underwriting. That said, there are still a tremendous numberof capital sources available with lenders who are currentlyunderwriting deals across all property types with the exception ofhospitality."

In addition to lender activity, this has also proven to be agood time for borrowers to secure debt for the right deal."Interest rates remain historically low creating a strong appetiteby investors for refinancing," says Stein. "Many deals underwrittenseveral years ago with much higher interest rates are starting tomature. In the current environment, sponsors are able to takeadvantage of these historically low rates to restructure theirfinancing for long-term success."