Since the start of the Covid-19 virus, Q10 | Westcap has closed over $265MM in loans. Q10 | Westcap is working with the best lenders in the market today. We are providing financing through banks, construction lenders (a few of which are non-recourse), bridge, mezz, and equity providers, in addition to our outstanding stable of life companies correspondents. Due to the Covid-19 virus, leverage amongst lenders has been pulled back a bit on specific property types to evaluate how it will impact the commercial real estate world.
Currently, our entire roster of correspondent lenders are actively quoting and placing loans. What’s changed between now and a couple of months ago:
1) Lender metrics for Leverage, Debt Coverage Ratio’s and Debt Yield will be more conservative
2) Some property types may have additional lender underwriting deductions or may include a post-closing principal and interest reserve
3) The types of businesses that occupy your commercial real estate will be a much bigger focus for lenders moving forward
4) Hospitality lending is on pause
With this constantly changing environment, our long-standing relationships provide a certainty of execution from loan quote to closing. Please reach out to your local office for additional information