Many commercial property owners are struggling to refinance debt, which is creating opportunities for providers of emergency financing, said
Kaplan, whose firm manages $5.8 billion of assets, spoke to Bloomberg’s Erin Hudson in a series of conversations ended Feb. 23. Comments have been edited and condensed.
What do you mean when you say you provide rescue capital?
A lot of people call it gap financing. Essentially it’s the hole in that refinancing stack — because an existing, usually senior lender is willing to lend less in proceeds than the existing loan and ...