As conventional lenders have cooled on the commercial real estate space during the COVID-19 downturn, Stan Bril, CEO of MCG, has been getting a lot more calls recently from people who need financing.
"I've had people come to me who have said that their credit line has either gotten cut, frozen or completely closed," Bril says. "It seems as though the brick-and-mortar banks are watching everything and waiting for this to blow over."
While MCG, which has facilitated nearly $30 billion in loans and has more than $400 million under management in its fund, is making loans, it is being careful.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
