The Toronto-based firm will “temporarily defer payment” of redemption requests until it’s clearer when borrowers will repay the loans and the fund can get cash from asset sales, according to a letter to investors dated Nov. 8. “Loan payoff...
While Seritage assets are sure to create investor interest, a cloudy economic outlook and tighter financing availability are bound to be major factors in negotiations, market observers say.
Andrea Gift Allan will focus on expanding Pretium’s portfolio of rental homes that are leased to tenants who receive assistance through the federal government’s housing choice voucher program.
Higher interest rates and tightened underwriting standards have created an opportunity for short-term and gap lending solutions.
