When characterising how the commercial real estate financing landscape in the US looked just a few years ago, Kevin Chisholm likes to compare the lending market at the time to a bunch of under-stocked ice cream shops. “It wasn’t that long ago when every lender we spoke with was offering the same type of loan, which was pretty much just one scoop and one flavor,” says Chisholm, a principal and managing director at Savanna, a New York-based private equity real estate firm.
FEATURE: Restocking the loan shops
The US debt market is no longer like an under-stocked ice cream shop, but that doesn’t necessarily mean borrowers have an abundance of choice just yet. PERE magazine, March 2012 issue
