3rd Quarter Newsletter

Greetings from Nashville, Medalist’s 5th office, and newest planted flag. In a few months, we will celebrate 2 years with an official Nashville location, far short of Medalist Capital’s 20+ years of serving our clients. I say that with pride and gratitude, and thank you all for the overwhelming support!

Here we are in October, with the first signs of fall, as playoff baseball, college, and pro football are in full swing. Before recapping this past quarter, let’s look back at how the year started. The 10-year Treasury yield was 4.50% and capital markets were uneasy with the looming concerns of imposed tariffs. However, there was cautious optimism and rumors of 3 to 4 rate cuts from the Fed. Leading into summer, the tumultuous stock market and treasury yields led the way to more uncertainty and even impending recession rumors. Summer heated up, and concerns tapered as we saw the soft landing on the horizon that we all long awaited.

The 10-year Treasury at the end of September hovered just above 4% and we saw our first rate cut of the year. Government shutdown concerns replaced the fears of tariffs, and jobs reports have been less than stellar. I am pleased to report that Medalist’s 3rd Quarter volume was $453M/ 28 deals, bringing the total YTD to $1.2B / 91 deals, more than doubling 2024 YTD ($588M/48 deals) with a promising pipeline to end the year. Loans closed represented all major product types, including multi-family, industrial, office, retail, hospitality, and self-storage. Capital sources varied among life insurance, banks, agencies, credit unions, and specialty finance companies. As I write this, the Treasury sits at 4.15% with a predicted rise as the government shutdown drags on. Consequently, we are entering the start of October without a clear understanding of the U.S. Jobs report.

Through these volatile and uncertain times, our team’s expertise, dedication, and deep relationships in the lending community truly set us apart. We are confident that we will be able to bring you the most competitive terms available and help navigate through any market.

 

Ian Anderson

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