Any optimism for a post-COVID resurgence of resort lending exercise has evaporated because the market stalls within the face of the very best rate of interest atmosphere in over a decade. The surging financial uncertainty is undoubtedly impacting the extent of angst many resort homeowners are feeling in the mean time. The magnitude and unpredictability of fixing mortgage underwriting assumptions prior to now sixty to ninety days alone have meaningfully elevated funding threat.
New debt for resort acquisitions has all however vanished, however an even bigger drawback could be the wave of current debt services of every type which are scheduled to mature this yr and subsequent. Starting initially of 2022 and thru the tip of 2023, practically 45,000 CMBS resort loans totaling about $30 billion in worth have been set to mature …
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Greta Hart
Senior Vice President of Advertising & Partnerships
The Plasencia Group
