Are you winning any deals and at what leverage? I’m at a big construction lender and we’re seeing a pretty big pullback in deals.
Industry wide it seems deals aren’t penciling well. We’re bidding deals at 50% LTC one day then the next day the same deal will underwrite at 45% LTC.
I'm at an opportunistic fund and our pipeline has over 100 deals on it right now.
We are being very selective, but still bidding/winning deals.
The senior/low leverage market (which seems to be more where you are) has pulled back a ton, but that has left a lot of opportunity for funds like mine to fill the gap.
What projects do you mainly lend to? Asset class/deal size?
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