Interest Rate Caps Are Crushing CRE Deals Even More Than Before
May 4, 2023 | Erik Sherman | GlobeSt.com
Three minutes before Ed Fernandez, president and CEO of 1031 Crowdfunding, speaks with GlobeSt.com, he’s writing off a project.
“I walked away from a deal I was supposed to go hard on before the end of today,” he says. Why? Interest rate cap costs. To make things work would have needed a whole lot more capital.