Starwood’s outlook is cautious on certain property types and areas of the country, according to Dennis Schuh, head of originations. It turns down multiple condo projects every week, though it doesn’t rule anything out, he said.
Nonbank lenders “trust their own instincts,” said JMP’s Delaney.
“Blackstone is the largest owner of real estate in the world,” he said. “They don’t need regulators and the Fed to tell them what the state of the real estate market is.”
This article was provided by Bloomberg News.