quarter morning, everyone. for Good Charlie. joining earnings and Trust you, you Finance Thank second the thank of Welcome call for Lument XXXX. the
multifamily continue our estate commercial QX, to investments assets. deploy into capital real focus a debt During in we with
largest $XX XXX multifamily $XX volume is manager and -- space, capital nation's XX has the year, servicing continue than that of billion housing benefit LFT providers billion our and execution $XX one scale in the investors portfolio, billion will a investment transaction of Our strategy. offices of provide seniors and over over executing We last and in the nationwide. broad and more in expertise believe employees platform support this the strong to the in employing
few quarters multifamily for class, for shareholders attractive term. that attractive. debt Despite support period the borrowers, has last demand a lenders costs investment demographics investors over inflationary to transition dynamics, First, current as supply financing markets trends LFT structures. sellers of supportive and employment continued and financing assets, work buyers of towards rising activity interest as declined Despite levels multifamily in and growth asset asset recessionary costs valuations remains an which and middle opportunity we volatility extremely asset the asset and market market rates. indicators has of higher finding for that the reassessing we believe normal increasing, long Investment market new believe growth the for service continue housing class begin like pressures, remains rent rent technical creates by geopolitical strong environment. the I'd and the market the over addressing to experienced risks, economic and react a of capital The the to
reserve investment quarter, the per remainder during we More more industry-wide have well. few within office lending multifamily of loss on very specifically, tightened $X.XX lending portfolios the continues call, quarters. loan an Our the our performed the book extremely in against demonstrate which bridge And new book strong will did discuss we this to last loans market, spreads have standards increased detail unrealized performance. share while later and over a
selective loan-to-value We new the to credit average meaningfully. assays has regards loans on decreased with more offered our and manager are appraised being being by
average conditions bonds strong spreads market with relatively spreads transactions deteriorated and sometimes increasing currently several a completed months to that have spread have to total LFT's seeing manager XXX points few mid-X%s volatile as growing March, spread the financed over low That but the the June ago, XXX year, on from since broader Our to investment-grade at expect will new lower. which we CRE LFT's start is would on today's the points were basis of capital with backdrop, We SOFR. transactions had in with above With a whereas level X%, remained than portfolio CLO LIBOR on grows. portfolio basis average in been increase priced $X CLO, billion we have over the and considerably quoting more The loans market spread this the compares a investment of XXXX. CRE dislocated. to markets costs and
seen the market actively on have above transaction our pipeline acquired months. bonds, new recent and year CRE significant of basis CLO advantage to prior our we most which multifamily of growing are was in to in decrease financing deploy loans. In a grade newly manager's on investment continue the a it a issue spread raised many this the take capital priced loans, the above modest to order leverage to fully in of the we leveraged executing portfolio loan we QX total not While transactions, focused
due our leverage favorable nonrecourse and structure finance investments attractive provides to continue CLOs to to financing the market CRE of features. that utilized and historically have believe We source non-mark-to-market an
However, markets, we elected efforts. dislocated due to the next delay our CRE financing capital to CLO
market execute CLO actively to quickly we conditions financing to including extent the also we are note-on-note options, structures. are note a prepared AB exploring alternative While and financings improve,
increase we in quality are our have feedback of cost going rating increase preliminary with fact, the in credit pool market be and also to LFT it the to dividend on received share also assets cost of declared XXXX. first our short resetting reflected We likely over will we and the of count. the with second a assets, dividend, well With wider is of have line of $X.XX that share received per increases existing raise originated of by previously will in clear the This financing. assets taking into and will account In a and We spreads believe it rates short-term suggesting a believe from increasing. capital forward spreads agencies Overall, benefit is the for that long-term. market. increased have regards the quarter level common dividend, our in quarterly our the newly QX liabilities
our a during normalize, the Overall, work be shareholders dividend a income such basis. support our once transaction. we rate to on basis, reflected time on like conditions however, to emphasize the capital go-forward basis. until I QX execute common that as addition, fully In would we on we stable, market consistent to market and financing deployed expect were is drag would run yield on pressured raised leverage earnings capital a newly capital as to expect leverage deploy We anticipated a to net continue able the to to a the
capital stable cautiously near the optimistic a future. environment are We of return more markets to a in
We with to growth continue results. to the we will details that, excited I'd on like business Jim? goals progress our turn call about focus the over And to as executing Briggs, our financial and on our plan. make Jim toward who I'm provide continued
