Episode #259 - Andrew Westling - Inside the Capital Stack

Building a real estate deal today feels like solving an increasingly complex puzzle, as investors face a more selective market. They must now work harder than ever to assemble a capital stack that truly pencils. Returning to the show is Andrew Westling, Director of Capital Markets at Walker & Dunlop in Los Angeles, joining Gary to share deep insights into today’s financing landscape. Together, they break down the current lending environment, explore the differences between preferred and common equity, and examine where market sentiment is shifting. Andrew also highlights the most aggressive lenders across asset classes, explains how swaps work, and provides updates on HUD and CMBS lending. Tune in now to learn more about the complexities of completing a successful capital stack and how to get creative with raising capital. Key Points From This Episode:Listeners are introduced to Andrew Westling.Andrew delves into his thoughts on the current lending environment.Preferred equity versus common equity, and what Andrew is seeing in the markets.He sheds light on the current most aggressive lenders in different asset classes.The range of rates that aggressive lenders are providing.He explains what a swap is.Andrew speaks to the latest from HUD and CMBS lenders, and what they are.They discuss the complexities of completing your cap stack.Getting creative with raising capital. Links Mentioned in Today’s Episode:Andrew Westling on LinkedInAndrew Westling Phone Number: +1 310 979 5756Walker & DunlopAsset Management Mastery Facebook Group Invest SmartBreak of Day Capital Break of Day Capital InstagramBreak of Day Capital YouTubeGary Lipsky on LinkedIn🙏 Special thanks to our sponsor, Bromley Palamountain of Northwestern Mutual — helping professionals and business owners build financial plans that support long-term freedom. To book your complimentary consultation, click the link.