Top Groups for Ground Lease Financing
Hoping to find some insight into who the top banks/bankers are for originating structured ground lease finance vehicles. Mesirow appears to be the top dog (thanks google) but I'm having trouble finding others that do the same.
Dumping a few questions out there: does every BB have a GL team w/in their structured finance group? Are there any other boutiques who specialize in this arena? If a group does CTL placements, is it pretty much guaranteed that they do GL placements as well?
Want to clarify that I'm not looking for a D/E broker... CW/JLL/CBRE etc. and location agnostic as this is relatively niche.
Thanks in advance.
I’m at a big bank and we have leasehold interest loans. Probably harder to get a loan from a bank now unless you are willing to put down a ton of deposits.
Can you comment on pricing vis-a-vis leasehold vs fee simple?
Have you looked at Safehold (now owns iStar) and USQ?
I've checked them out and it seems like a great option if our investment goals were different, but we're looking to maintain fee ownership of land.
Can you elaborate on this?
Are you trying to buy the underlying land in existing ground leases or find owners that want to sign ground leases with you?
Done about $1bn in ground lease financings personally, PM me
I have previously originated and structured $1B in CTLs and Ground Lease Financings on behalf of family offices. Feel free to DM me for more info.
Some of the large brokerages are direct lenders for CTL deals. Prudential and some other LifeCo lenders also play in the CTL space.
If you’re talking about land bifurcation deals, iStar (Safehold) is probably your best starting point. They kind of pioneered that space and are arguably still the biggest player.
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