Summary
- Slatt Capital provided more than $636 million in financing across 147 transactions in the first half of 2025.
- The firm also closed $30.4 million in hospitality, $29.2 million in office and $22.2 million in mixed-use deals, including hotel development.
- A CoStar report found U.S. hotel deals in 2025 are shifting below $50 million, with investors active despite economic uncertainty and a slower start.
SLATT CAPITAL, A national commercial mortgage banking firm, provided more than $636 million in financings across 147 transactions in the first half of 2025. Multifamily, retail and industrial led the activity, accounting for more than 76 percent of total volume.
The Burlingame, California-based firm also completed transactions in hospitality at approximately $30.4 million, office at $29.2 million and mixed-use at $22.2 million, including branded hotel development and multifamily retrofits.
“Multifamily, retail and industrial continue to define the commercial real estate financing conversation in 2025,” said Michael Kaplan, Slatt Capital's president. “From single-tenant retail refinances to Class-A industrial facilities and ground-up multifamily development, we’re helping clients navigate the evolving credit landscape with certainty and creativity.”
Multifamily led all sectors in the first half with $207 million in volume, driven by closed deals in ground-up development, refinancing and affordable housing, the statement said. Retail accounted for more than $162 million in closed loan volume, with lenders and investors favoring necessity-driven and grocery-anchored properties.
Industrial financing totaled approximately $66.3 million, or 12 percent of the firm’s midyear volume, including deals for flex and cold storage assets. Banks and credit unions accounted for 33 percent of lending in the first half, followed by life insurance companies at 29 percent, REITs and funds at 26 percent, agencies at 10 percent and CMBS at 2 percent.
“As market cycles shift, the need for nuanced, relationship-driven capital solutions grows stronger,” Kaplan added. “Our midyear track record shows that sponsors trust Slatt Capital to structure competitive, tailored financing across the capital stack.”
A recent CoStar report found that the U.S. hotel transaction market in 2025 has shifted toward sub-$50 million deals, with investors pursuing opportunities in this segment despite economic uncertainty and a slower start to the year.
