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April 22, 2020

Stamford Snapshot: 4th edition

Following on and an update from last Wednesday.

Our key observations over the last week:

  • We are seeing and doing genuine post COVID deals now, giving us and our clients the benefit of real time risk and pricing benchmarks. 
  • The bias here being reduced risk/gearing with increased pricing, happy to take calls to talk about particular situations with clients/capital partners, the response here will be bespoke.
  • Such deal flow includes a number of new transactions with the major banks, they do remain open for high quality sponsors and projects.
  • Some occasional non-bank lenders/institutions have retreated to core business and have closed lending platforms. The converse applies for the established/dedicated shops that are gearing to participate through cycle.
  • We are seeing private lenders use internal valuation underwrite, in part as they traditionally didn’t get benefit of reliance on a valuers report/PI but also for ease and speed of dealing.

Wishing you all well

Your certainty in commercial property capital