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Financial markets employ benchmark interest rates as critical reference points for pricing a wide array of financial products. These benchmarks and risk premiums ascribed to them are integral to the commercial lending processes. The most widely recognized benchmark is the Secured Overnight Financing Rate (SOFR), which gained prominence as an alternative to the London Interbank Offered Rate (LIBOR). The…
Financial markets employ benchmark interest rates as critical reference points for pricing a wide array of financial products. These benchmarks and risk premiums ascribed to them are integral to the commercial lending processes. The most widely recognized benchmark is the Secured Overnight Financing Rate (SOFR), which gained prominence as an alternative to the London Interbank Offered Rate (LIBOR). The…
In Part 1: National Housing Trends, our recap of the past decade indicated that the United States continues to experience a large housing shortage since household construction fails to…
Headwinds for Apartment Development Fident has been fortunate to work with many capable multifamily developers throughout the western United States. As we enter 2018, nine years into the current…
At a macro level, the U.S economy is on a hot streak. Now into month 100 of the current economic expansion (the 3rd largest in recorded U.S. History), the…
Commercial property investors, and their unique cousin, the developer, often get to (or start at) a point where real estate investment halts without the infusion of additional risk capital….
I’ve come to understand that a principled commitment to some vital business concepts provides substantial leverage and a competitive edge. Optionality, and its special relative free optionality, is one…
At times, there are changes in our great nation’s strategic planning that can have massive implications for the local economy that go largely unnoticed until they play out. At…
After eighteen plus years in the real estate development and capital markets, I have seen both massive successes and failures on the part of real estate developers. As a…
With Fident’s relocation to a downtown San Diego office, I find myself driving by the high-rise affordable housing project Ten Fifty B every day. This 23-story, LEED Gold, concrete,…
Choosing a lender can be a difficult task when you have multiple options. We often see clients focusing heavily on price and proceeds, sometimes to a fault. There are…
At an estimated population of nearly five million, the San Diego-Tijuana MSA is one of the United States largest bi-national conurbations. Accounting for approximately 40% of the USA/Mexico border population,…
The Setup A few years ago I read a comment describing how real estate, unlike the stock market, is built on asymmetry. Asymmetry in local expertise, operational knowledge by…
As a capital advisor, we’ve placed joint venture equity into a variety of project types. We are not in the business of syndication, so the types of equity groups…
