LOS ANGELES—During a recent capital and lending session at the GlobeSt. Multifamily Fall Conference, experts discussed the evolving financial landscape. They reflected on the period from 2011 to 2012 when rates remained relatively stable, with 2020 seeing a significant drop due to the impact of Covid-19. By March 2022, the focus shifted to tackling bridge loans and other financial challenges. The panelists provided updates on various aspects of capital and lending, including debt renegotiation, value-add multifamily acquisition, redevelopment opportunities, and the effects of increasing interest and cap rates.

Moderator Malcolm Davies, founder and senior managing partner of WAY Capital, inquired about how the industry has been dealing with the challenges posed by interest rates. Panelist Laurie Morfin, senior managing director at NewPoint Real Estate Capital, explained that her firm had to get creative in helping clients with cash-in refinancing, particularly since many had initially underwritten to a 4-point exit. “We had to think about rate locks,” she noted. The market dynamics had changed rapidly, prompting the need for close attention to rate fluctuations. Morfin also mentioned that some clients were considering selling their properties.

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