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Navigating Multifamily Short-Term Headwinds with a Long-Term Perspective

As we navigate today’s uncertainties, we believe it is crucial to maintain a forward-thinking mindset, recognizing the multifamily sector's potential to provide durable value and investment opportunities over the long term.

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Identifying resilient retail segments for US commercial mortgage lending

We believe the retail sector is in a good position to weather a mild recession. One segment that has consistently demonstrated strength is grocery-anchored retail.

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How recession proof are commercial mortgage investments?

We examine recent US commercial mortgage loan credit performance and the potential for excess additions to property supply that might threaten credit performance in the quarters ahead.  We find very little cause for concern, except in the office sector.

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Value Proposition

Aegon AM’s US CML strategies offer investors the opportunity to access a customized strategy to invest in commercial mortgage loans through a time-tested and vertically integrated debt investment platform.

Market opportunity

Typically offers a spread advantage over investment grade corporate bonds

 

Diversification versus stocks and bonds

 

Broad investable universe to customize across property type, geography and risk profile

 

Potential for cash flow stability and capital preservation

 

Liability duration matching

Investment strategy

Originate and service commercial mortgage loans and manage investment throughout its lifecycle

 

Create strategies tailored to each client’s objectives, risk tolerance and duration needs

 

Offer comprehensive reporting & servicing solutions

 

Robust credit underwriting process utilizing proprietary risk rating model

 

Emphasis on downside risk protection

 

Nationwide deal access

Experienced team

Time-tested 40-year track record through multiple credit cycles

 

Highly experienced, long-tenured  teams across origination, engineering & environmental, valuation & research, legal, servicing, and accounting & reporting

 

Vertical integration of teams, robust process, and established long-term industry relationships contribute to certainty of execution

 

In-house servicing and special servicing platforms rated "Strong" by S&P1

Strategies

Core CML

Seeks to provide highly reliable cash flows with low credit risk

 

Aims to provide competitive returns compared to traditional fixed income alternatives

Core Plus CML

Seeks to provide reliable monthly cash flows with low-to-moderate credit risk

 

May include additional underwriting risks compared to core CMLs, such as upcoming lease expirations, in-process rehabilitation, higher vacancy, or marginal tenant credit

Construction/Permanent Loans

Aims to provide access to very high-quality CML opportunities prior to construction with fixed rate loan during construction and permanent phases

 

Generally structured with an interest-only construction period during which the loan is funded through monthly draws, followed by a permanent period, usually with amortization