CRE Lending & The LIBOR to SOFR Transition

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 This episode covers the essentials investors need to know about the LIBOR to SOFR rate transition with Kevin Swill, CEO of Thirty Capital Finance.

The Crexi Podcast explores various aspects of the commercial real estate industry in conversation with some of the top CRE professionals in the space. In each episode, we feature different guests to tap into their wealth of CRE expertise and explore the latest trends and updates from the world of commercial real estate. 

In this episode, Crexi’s Yannis Papadakis sits down with Kevin to cover key updates, impact, and things to know about the June 30th deadline to switch from LIBOR to SOFR loans. Their wide-ranging conversation includes:

  • Introductions, career paths, and early lessons learned in the CRE lending market
  • Favorite early mistakes that transformed into opportunities, the importance of managing leverage, and lessons learned during market corrections.
  • Current happenings in the national multifamily sector, as nested in current lending market dynamics
  • The upcoming transition of LIBOR to SOFR, its history, what it means, and why it matters.
  •  How property owners can approach working out new agreements with their lenders to avoid millions in rising interest rates and how to find expert guidance.
  • The impact of the LIBOR to SOFR transition on current debt markets, especially those with hedge products attached to loans.
  • How these rate adjustments are impacting current market transaction velocity and the bid-ask gap between sellers and buyers.
  • And much more!

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About Kevin Swill:

Kevin Swill is the CEO of Thirty Capital Financial, a CRE debt advisory firm and pioneer in the Defeasance space. Swill is an accomplished executive with experience in acquisitions, dispositions, financing, capital raising, asset and property management, and strategic planning. Swill has an extensive track record in improving return of invested capital for clients. 

Swill entered the investment banking field in 1987 in debt restructuring at Citigroup and was instrumental in the first wave of CMBS originations in 1994 at Merrill Lynch. In 2001, Swill took the role of President at The Kushner Companies, a large diversified real estate company, heading up the finance, commercial, and hospitality divisions. Thereafter, Swill held other executive roles in real estate finance and operations before joining Thirty Capital Financial in 2020.

About Crexi:

Crexi is transforming commercial real estate with advanced, integrative technology and data analytics designed to accelerate every CRE stakeholder’s success. From trading properties to machine-learning-powered industry Intelligence, Crexi’s intuitive CRE solutions accelerate transaction velocity and have empowered over 2 million monthly users to close $330 billion in deals and market over $2 trillion in property value.

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