Office
Office capital, underwritten to today.
Office requires lenders who will underwrite rollover, concessions, and tenant concentration with discipline and realism. We source from the short list of capital providers still active and willing to structure around it.
Market Commentary
Where the capital is, right now.
United States
US office financing has bifurcated sharply. Trophy Class A with credit tenancy and low rollover finances in the life company and insurance market at 50 to 60 percent LTV with reasonable coupons. Everything else requires a private capital solution: debt funds, family offices, and specialist lenders pricing bridge and transitional paper with heavy structure. Sizing is driven by sustainable NOI, not in-place. TI and LC reserves are the difference between a closed deal and a broken one.
United Kingdom
Central London prime office remains financeable for institutional sponsors at 50 to 60 percent LTV through insurance companies and select clearing banks. Regional UK office is thin, transacting primarily through alternative lenders and family offices. ESG and BREEAM ratings increasingly drive pricing and availability; non-compliant stock faces a tightening lender universe.
Capital Sources
Active lenders for office.
The lenders who are actually transacting today, by capital type and typical profile.
Insurance companies
The most reliable source of long-term fixed-rate capital for trophy Class A with credit tenancy. Disciplined sizing but certain execution.
Debt funds
Transitional, value-add, and repositioning capital. Non-recourse with interest reserves and holdbacks structured around the business plan.
Banks
Still active for lower-leverage senior on institutional sponsors, typically with partial recourse or cash management.
Family offices
Flexible capital for complex situations, DPO scenarios, and note purchases where speed and creativity outweigh pricing.
Execution
What we place.
Sector-specific execution across the full capital stack, structured around the business plan rather than a template.
Underwriting sized on sustainable NOI with sized TI and LC reserves
Structured financing for tenant rollover and repositioning plans
Note purchase and DPO financing for distressed capital structures
UK prime and regional office with ESG-aligned capital
Selected Deals
Office transactions.
Refinancing of middle market tech-focused office campus
More Office
Recent activity in the sector.
Newsletter
Stay current on office capital markets.
Quarterly sector commentary, capital stack benchmarks, and selected transaction highlights.
Ready to Transact
Working on a office deal?
Send us the basics. We'll come back with a capital strategy, indicative pricing, and the short list of lenders worth talking to.