CRE Development May Be Down But The Deals That ‘Pencil’ Are Still Being Made

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Legions of epitaphs have been written relating to commercial real estate (CRE) investment and development in 2023. But despite the gloom and doom, deals are still being made and they aren’t all cash-only. Case in point is Miami-based private real estate lender BridgeInvest’s announcement this week that it closed on a $30.5 million deal to finance Clairmont Crest, a 213-unit multifamily property in Decatur, Georgia, as well as a $50 million construction loan for the Revv Hollywood multifamily property coming to Hollywood, Florida, located between Fort Lauderdale and Miami. BridgeInvest Managing…

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