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May 31, 2024
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MW has many competitors in the market, and historically hasn't been very competitive with shops offering balance sheet options for transitional debt with robust CMBS platforms. They opened their NYC office a few years ago and were still fairly new...
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As mentioned above - a lot of competitors in this market. However, MW is unique as it is a PE shop, which leverages their capital base thru warehouse lines and lends out at a higher rate. This could poise problems for their business model in a rising interest rate environment.
Can only speak of NYC culture but seem to be pretty cool guys. New office by Bryant Park and small team (might be 10 ppl max in NYC). Firm is HQ in LA so that may divide culture a bit.
I think hours may be street (Approx. 80/week) but cannot comment on comp.
Thanks, Think_Excelsior . Would you mind expanding on who some of their competitors would be? Would these be LifeCos, Banks, CMBS shops?
In a broad sense all of the above will be competing for business just MW and other non-bank lenders are able to lend at a higher LTV than banks. Prime Finance, Ladder Capital and Hunt Mortgage come to mind
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