As we enter Q4 we are seeing an uptick in new project financing requests, however, lenders and investors are focused on closing out their existing pipeline with an eye to originate new transactions in 2022. On a positive note, pricing has pulled in by 25-75 bps while leverage has increased by 5-10% making it more attractive to be a borrower/sponsor.
In addition, conventional balance sheet lenders are starting to open up to bridge-to-permanent financing requests, with cash- out components. Pleasant news for borrowers, especially compared to the market conditions of the last 18 months.
