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May 6, 2020

Stamford Snapshot: 6th edition

Following on and an update from last Wednesday.

Our key observations over the last week:

  • The market appears to have definitely shaken lose who remains at play in the non-bank space. We are surprised on the upside at the depth of capital available, both for existing assets and development. Should also mention residual stock, like everyone else seems to do, this market in particular remains favourable for borrowers.
  • Banks do remain open for business although some are limiting this to their existing customer base. They are also active in managing balance sheets, benefit to the economy, cost to the equity holders. We are still seeing the banks compete for credits that fit policy, key here is fitting policy which has been the case for some time now.
  • Clear bias in sentiment from capital for asset values to come off, this across essentially all asset classes and geographies, deals are being underwritten accordingly.
  • Getting a little thin for content, could be writers block or some sign of settlement in market post COVID. We did promise in Edition #1 to wind back if this was the case, will now do this however as always will continue to keep our customer and capital partner base updated of any future major shifts in market.

Again all Stamford State offices remain open but working remotely, that said we can see some light and are very excited to get back to our offices proper.

Refer to about us page for origination staff contact details.

Wishing you all well

Your certainty in commercial property capital