Slatt Capital | Dallas

Even after the Fed cut rates by 50bps, the movement in the UST market was surprisingly muted last week. Many CRE borrowers, aiming for the best possible rate, might think they can time the market perfectly. However, this latest development shows that even significant events don't always lead to expected shifts. The reality is, timing the market is incredibly difficult, and in today's environment, uncertainty remains high. As we look at the Fed Funds futures out through December 2025, the marketing is expecting another 200bps of easing (https://lnkd.in/gHiuAmqP). If that is already baked into the market, what do you stand to gain by waiting to refinance?

CMBS For Your Multifamily Refinance; Why Not? by: John Darrow, Principal | Managing Director, Dallas I recently worked with a client who had a stabilized multifamily property that was a bit over-levered on a bridge loan and was coming to maturity. Unsurprisingly, proceeds were the most critical factor as we struggled to get to the loan amount to pay off the bridge lender. After clearing the market, we were both surprised to find that one of our correspondent CMBS shops beat out everyone else, including Fannie and Freddie. Everything about the deal was great until I mentioned CMBS, and then the “Ughh” came out of my client’s mouth. Hence, the background for this article was formed. The most significant change for those not around the CMBS world in the last few years is that they have gotten some traction with their 5-year fixed rate term. Always one of the largest detractions was that no one really wanted 10-year fixed rate paper with a prepayment penalty for that long. Well, that has changed a lot in the last few years, and the 5-year option is prevalent and pricing decently well. ... Visit Slatt.com knowledge center for the full article

#Welcome to the team Eli Smith! Eli recently joined Slatt Capital’s new Dallas office as Senior Vice President, bringing 20+ years of experience in commercial lending. His journey in the industry commenced when he relocated from Dallas to Chicago to embark on his career in originations with the Multifamily Lending Division at Washington Mutual (WAMU). He eventually returned to Dallas with Chase Bank and transitioned from Banking to Agency, working with Fannie Mae for a few years. ? In 2015, immediately following the launch of Freddie Mac's Small Balance Lending (SBL) platform, Eli joined Ready Capital, where he played a pivotal role in establishing their Strategic Partnership group and driving origination through correspondent agreements. These partnerships led to over $3 billion in company production. During his tenure at Ready Capital, he was also entrusted with cross-selling CMBS and Bridge for all asset types. In his most recent position at Lument, Eli showcased his versatility and expertise by broadening his focus to include Conventional Agency and FHA/HUD executions. His vast knowledge base and strategic acumen consistently positioned him as a trusted advisor and a driving force behind the success of his teams and organizations. We are thrilled to have Eli join the team and look forward to all his future success. #slattcapital #dallas #commercialmortgagebanker

Was quoting a client this week on an early 2000s vintage multifamily deal that is proceeds driven (put another way, they need every last dollar they can get). Best terms were not Fannie or Freddie however, nor was it lifeco. When I told him CMBS had both of them beat, he groaned. But the terms are the terms (below) $2.5M net proceeds higher than Agency/Lifeco (inclusive of the rate buydown cost) 175bps spread (assuming a 4 point buydown included in the net proceeds above) 5YR fixed 5YR FTIO 4.5YR YM For Class A and Class C multifamily, more sponsors need to be considering CMBS if they are proceeds driven. #crefinance #commercialmortgage #multifamily

2024 commercial property tax assessments in Texas are out, and I am hearing from clients increases are averaging between 10-20% depending on the asset quality and location. It should be interesting to see how this plays out considering almost everyone know values have fallen across the board, however ironically, the unwillingness of owners to sell at the lower values is what will ultimately allow those assessments to stay elevated. Said a different way, until we get more comps at the new lower values, assessments are likely only going one direction. #propertytaxes #commercialrealestate #crefinance #taxprotest #texascre

Slatt Capital?is excited to announce the opening of its newest office in?Dallas, Texas. This expansion marks the company’s second office outside of California, part of its strategic vision of regional geographic expansion to support growth. Principal & Managing Director?John Darrow, who helped lead the expansion into Newport Beach for Slatt, will once again be working closely with senior management at Slatt as they spearhead their newest expansion into the DFW market. Mr. Darrow has 15+ years of experience in the commercial lending space, with originations totaling over $2 billion across 500+ loans. His career has taken him all over the country, and he has successfully closed loans in 34 states including Hawaii, however continues to originate the majority of his business through his deep connections and contacts in Texas. Joining Mr. Darrow in Dallas are industry veterans?Ron Davis?and?Matt Mueller, who bring a wealth of collective experience to Slatt Capital’s newest frontier. Ron Davis brings 35+ years of CRE finance experience to Slatt Capital’s new Dallas office. Mr. Davis spent the last ten years at Matthews Real Estate Investment Services, Johnson Capital, and Walker & Dunlop, building deep relationships with owners, lenders, and equity providers in the Dallas-Fort Worth Metroplex and throughout the country. Matt Mueller comes to Slatt Capital with 20+ years of commercial real estate finance experience, most recently spearheading the equity and structured finance team at Tauro Capital Advisors. Additionally, Slatt Capital has added depth in?Denver, Colorado, by hiring?Bradley Segall?as Vice President. Brad brings 12+ years of experience in commercial real estate asset management, business development, and commercial mortgage banking, further enhancing Slatt Capital’s capabilities in the Denver market. www.slatt.com #welcome #team #slatt #dallas #cre #commercialmortgagebankers

Always fun to see a deal I worked on featured in the WSJ. I am grateful I was able to play a small role in the success of this project for the development team. For more information on our capabilities and involvement: (https://lnkd.in/g-J5bHVK) https://lnkd.in/gqVdfMF5