Borrowers Rush to Refi, Helping Drive Competitive Pressure in CRE Lending
Remember the ‘extend and pretend’ strategy many lenders adopted in the wake of the Great Recession when commercial property values plunged almost overnight putting a lot of borrowers under water? The bulk of those loan extensions started coming due in 2010 around the same time early-in investors started betting on the bottom. All of which has the industry watching for the first surge of loan maturities rolling through this year… Read more »
Light Rail Brings High Hopes For Downtown Mesa
When construction began on Mesa’s $99 million arts complex in 2002, a seed of belief was planted deep in the heart of the city’s historical downtown ? a belief that the quiet district could eventually grow into something greater. Now 10 years after the Mesa Arts Center opened at the corner of Main and Center streets, that idea is firmly rooted among the many downtown residents, business owners and activists who have fallen in love with the area… Read more »
Broken Condo Development In Ahwatukee Gets New Life
A Vancouver company has bought a fractured condominium development in Ahwatukee with plans to transition it into a Class A apartment community. Belkorp Holdings Inc. ? which owns other real estate in Phoenix and the Pacific Northwest ? bought the Indigo multifamily development from Seattle-based Goodman Real Estate Inc. for $18.1 million. The 108-unit complex is on 50th Street near Interstate 10 and Chandler Boulevard in Ahwatukee. Goodman bought the complex in 2013… Read more »
With or Without RadioShack’s Locations, Amazon Going Brick and Mortar
Unconfirmed reports emerged earlier this week linking Amazon.com and RadioShack Corp. in talks over Amazon taking over a chunk of Radio Shack’s mall-based stores as the debt-straddled electronics retailer prepares for an expected bankruptcy reorganization. However, whether or not such a deal materializes is immaterial. The fact is, sooner or later, Amazon, Google and several other online retailer will likely become much larger players in brick and mortar retail space… Read more »
How Long Will the REIT Rally Continue?
U.S. equity REITs are coming off a stellar year with total returns for the sector at nearly 30 percent?double that of the S&P 500. Yet with valuations for many REITs already at pre-recession levels, industry analysts are skeptical that REITs will be able to keep up that pace for much longer. There is no question that U.S. equity REITs posted some impressive numbers in 2014… Read more »
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