Denver, January 4, 2021 – Essex Financial Group (“Essex”)
has formed an exclusive correspondent relationship with PGIM Real Estate to source
loans intended for sale to Fannie Mae and Freddie Mac. With this relationship, Essex
will work with PGIM Real Estate’s origination team in the Rocky Mountain region
and have access to their DUS and Optigo lending platforms. PGIM Real Estate is
one of the only lenders to hold DUS and Optigo licenses that is not a bank or a
brokerage company and is one of the top agency lending platforms in the country.
In 2019, PGIM Real Estate originated $2.1 billion on behalf of Freddie Mac and
$5.0 billion on behalf of Fannie Mae, making the fir...
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As the presidential election appears to be concluded, commercial
real estate investors are now strategizing for the future impacts of new
taxation policies under a different administration. It is worth prefacing this
article with the fact that these changes / proposals are all preliminary at
this point, as there are many factors that will ultimately determine whether or
not these become a reality. That being said, it can greatly benefit investors
to be proactive in re-evaluating their investment strategies under increased
taxation policies.There are three primary proposed changes to the tax law that
would affect CRE investors:Raising capital gains from 20% to ordinary...
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This article appeared in the November 2020 Issue of the
Colorado Real Estate Journal's Multifamily Properties QuarterlyThere has never been a better time to be a commercial real
estate borrower. The cliché has been
repeated on a loop for the last several years, but it is still truer than ever
today. The Fed has signaled it is going
to hold short-term interest rates at near-zero for at least three more years,
and credit spreads have stabilized after spiking in the early days of the
pandemic. The net result is we are
living in a period with the lowest interest rates the team at Essex has ever
seen. [Author's Update 11/17: Since this
article was...
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Over the past decade, insurance companies have become more
active on the construction side of lending in efforts to (1) earn more yield on
their loan dollars and (2) provide early opportunities for permanent loan
business on newly-built, high quality stabilized product. As a result, many
have developed non-recourse construction and construction-to-perm lending
programs. Currently, 8-10 of our insurance company relationships are active in
this space, especially on deals with loan sizes greater than $25M.With the volatility brought by the COVID pandemic, many
insurance companies temporarily halted their construction or
construction-to-perm lending programs in efforts to...
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