I have an article in the July, 2009 commercial edition of Scotsman Guide which talks about five underwriting issues CRE lenders are focusing on, and which frequently kill deals in this environment:
- Upcoming loan maturities on the Sponsor’s other deals
- Sponsor liquidity
- Sponsor exposure to distressed loan types (e.g. condo construction loans)
- Lack of Sponsor experience in the market and/or property type
- Project dependence on tenants in a weak industry.
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