search

The Real Deal Logo

Trending

Lawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421a“Investing before the ‘all clear’ sign”: Jon Gray on Blackstone’s $10B apartment deal“Investing before the ‘all clear’ sign”: Jon Gray on Blackstone’s $10B apartment dealCity Council approves zoning change to greenlight casinosCity Council approves zoning change to greenlight casinosSL Green, Vornado kick in $100M to extend 280 Park loanSL Green, Vornado kick in $100M to extend 280 Park loan
New York

Jersey building boom forces builders to reach for financing

Lenders are demanding a higher portion of equity in development deals

As super-sized projects rise above the New Jersey skyline, developers are finding it tougher to lock down financing.
As super-sized projects rise above the New Jersey skyline, developers are finding it tougher to lock down financing.

From the New Jersey Market Report: Developers hoping to get in on the boom rolling across Northern New Jersey may have a tougher go with lenders than they did a couple of years ago.

Sign Up for the undefined Newsletter

While the spigot for loans is still open, especially from balance-sheet organizations like banks and insurance companies, it’s gotten tougher in recent months to lock down financing, according to developers, real estate brokers and loan brokers.

Some industry insiders blame turmoil in the stock market — which can affect the value of securitized loans — for the retrenchment. [more]