Washington,
DC, USA -- Federal Reserve Bank Chair Janet Yellen testified that
the Fed will likely continue its plans to implement federal funds
rate hikes and balance sheet normalization measures in order to
gradually raise short and long-term interest rates.
This,
along with the May release of the Fed's senior loan officer survey,
highlights a "closing window of opportunity for affordable
financing from commercial lenders," according to Eric Fedewa,
Ascend
Capital Partners Managing Partner. The senior loan
officer survey indicates that there will be a tightening in
traditional lending practices for the commercial real estate sector.
With
these factors in mind, Fedewa said Ascend Capital Partners can fill
some of the void in traditional financing for commercial real estate
by offering financing alternatives such as inexpensive institutional
debt, bridge financing, and equity.
"The
Fed's May report concurs with the tightening trends we've been
observing this year in traditional lending for commercial loans. The
need for alternative financing is clear," said Fedewa.
"The
tightening of traditional lending sources comes at an inopportune
time for investors as the new administration is trying to heat up the
U.S. economy," said Fedewa, noting that a tightening of monetary
policies on behalf of the Fed could raise lending costs for
alternative and traditional lenders alike.
"The
strengthening economy is creating demand, yet traditional financing
practices have tightened. Unfortunately, the window in which
alternative lending sources can provide inexpensive financing could
be limited as potential Fed rate hikes loom on the horizon," he
said.
Ascend
Capital Partners has expanded its financial service offerings and
added several new offices with strong teams of financial experts in
prime market areas.
"We've
expanded our Washington, DC area headquarters and are adding offices
in Boston, New York City, Sarasota, Florida, Austin, and San
Francisco. We've added new professionals to the D.C. team who are all
top performers in their fields and can provide a broad range of
services to our present and prospective clients," he said.
"We're
not only assisting our customers with financing, but we also offer
consulting and strategic advisory services," said Anne Brensley,
an attorney by trade who heads up the firm's advisory business:
Brensley
has been successfully facilitating financial deals, directly
providing equity, and consulting on complex real estate matters for
the past ten years.
"We've
been able to assist in changing government attitudes towards
projects, walking developers through rezoning issues, and helping
owners 'right-size' their capital structure. Ascend has seen an
unaddressed need for bridge funding with EB-5 projects, and we've
helped our clients utilize an array of specialized funding vehicles
to get their projects completed," she said.
Ascend
Capital Partners provides financing options as well as advisors in
several different areas of the commercial real estate financial
sector.
For
instance, Fedewa and Jud Villa worked together in Florida funding
commercial loans. Villa is also an expert in single family home, "fix
and flip, and fix and hold" deals. "We have so many ways to
assist our borrower/clients, but helping them make smart choices and
matching them up with financing," said Villa.
Rob
Merkle and Vince Lane round out the Ascend commercial real estate
team. Lane has been a real estate developer, and also has expertise
in high tech and international business. He splits time between
Austin and San Francisco. Merkle heads up the New York City office,
where he has worked for years and overseen billions of dollars in
deals in and around Manhattan.
In
college, Merkle played football for The University of Notre Dame. He
said: "I know about teams, and this is a great one. We cover
some of the most dynamic markets in the country, and our people are
aggressive and seasoned professionals."
"In
markets like San Francisco and Austin, there's a huge need for the
type of innovative and alternative financing that Ascend offers.
Banks are not lending, but we're picking up the slack," said
Lane.
"We
have sources which include debt funds, private equity, hedge funds,
and our own managed funds," said Fedewa. "With our decades
of expertise, we will assist in finding the most efficient capital
stack for your project."
For
inquiries or information about Ascend Capital Partners financing and
advisory services, visit the new website -- http://www.ascendcapp.com
-- or call: (703) 982-0609.
Media
Contact:
Eric
Fedewa
Ascend
Capital Partners
703-982-0609
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