They are the financial sleuths of the real estate industry. Third party debt brokers take a forensic approach to a job that often allows them to know more about their client than their client does. The good debt broker calls the investor even before the investor knows they could benefit from a new financing course of action.
One such broker is Meridian Capital Group’s Joel Chetner. Joel oversees a team of brokers responsible for sourcing both construction and permanent financing opportunities across the country. Following Joel’s participation on a panel at Connect Texas Multifamily 2022, I caught up with him to learn more about his unique niche.
M: What’s the role of a 3rd party debt broker?
J: Our job is to look at our clients portfolio, to work along side them, to keep track and identify what the right capital source is for a yield, or a portfolio, at any given time.
M: How do you see the markets moving forward?
J: Even though the fed says they are going to raise rates over the next 6-12 months, the fundamentals of multifamily real estate remain strong.
M: What makes Meridian Capital a leader in the debt broker space?
J: Relationships with 100’s of lenders which our clients benefit from when we source financing for a particular deal. And we’re really good at the nitty, gritty last detail. We know the deals better than our sponsors know their deal.