The coronavirus pandemic set back many commercial real estate owners’ business plans, slowing down leasing, construction and foot traffic. But with vaccination rates climbing, travel returning and cities reopening, owners can see the light at the end of the tunnel.
Optimism for the future of CRE assets is powering a boom in bridge lending. Borrowers who otherwise expected to move to permanent financing or refinance their assets are instead finding they need 24 months or more to complete their business plans. These borrowers have turned to bridge lenders to keep liquidity high while stabilizing their assets.
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