‘Foong on Finance’: U.S. Will Not See 3% GDP Growth Until 2014
As they say, we won’t see a desirable employment environment in the U.S. soon. U.S. GDP growth is not expected to hit 3 percent until 2014. That analysis comes from the international real estate group Grosvenor. Grosvenor declined to call the current economy “robust.” “Analysts are pointing to major shifts in structural unemployment in the U.S. as a result of the recession,” says the real estate group. “The construction industry is a prime example of why so many people are staying unemployed for so long,” states Eileen Marrinan, director of research for San Francisco-based Grosvenor Americas. “Their skills are simply not in…
Lending Starts to Open for Small Properties
Here is good news for owners of small multifamily properties who may be seeking financing: Lenders are becoming active in this sector again.
Fulfilling Maintenance Requests Is a Three-Part Process
As important as response time is, maintenance processing does not end when a property technician successfully fixes the problem in the apartment.
CMBS Delinquency Rate to Stay in High-Single to Double Digits
The CMBS conduit/fusion delinquency rate is now 9.22 percent, an increase of six basis points, according to Moody’s Investors Service. “We expect the delinquency rate to run high-single to low-double digits over the near term,” states Tad Philipp, director – CRE Research, of Moodys Investors Service.
‘Foong on Finance’: CMBS Delinquency Rate to Stay in High-Single to Double Digits, Says Moody’s
Delinquencies rates remain high, though there is light on the horizon. The CMBS conduit/fusion delinquency rate is now 9.22 percent, an increase of six basis points, according to Moody’s Investors Service. To place it in perspective, Fannie and Freddie’s multifamily delinquency rates come in below 1 percent, while the CRE delinquencies of life insurance companies are about 4 percent. “We expect the delinquency rate to run high-single to low-double digits over the near term,” states Tad Philipp, director – CRE Research, of Moodys Investors Service. “The resolution process is in full swing, and liquidations should roughly balance new defaults.” The…
SPECIAL REPORT: Webinar Speakers Present Strategies for Resident Automated Payments Systems
Businesses can effectively leverage electronic payment systems to drive revenue growth and cash flow, said speakers at an MHN webinar sponsored by NWP Services Corp.
Non-Profit Community Developers Face Challenging Financing Environment
A constrained funding environment is a key challenge facing non-profit community development companies today, says Eileen Fitzgerald of NeighborWorks America.
TODAY’S DEALS: Kislak Brokers $27.3M Short Sale of Philadelphia High Rises
Kislak completes a $27.3M short sale, and NorthMarq arranges a seven-year Freddie Mac loan.
Hunting Down Alternative Sources of Development Financing
Capital may seem abundant when it comes to the big players and the big projects. For the other guys, obtaining financing for new construction requires some creativity.
TODAY’S DEALS: NorthMarq Arranges $40.4M for Portfolio in Pa.
NorthMarq Capital arranges $40.43M for a portfolio of Section 8 properties; Phoenix Realty acquires a $21.5M REO portfolio; and Grosvenor Residential Investment Partners acquires a 121-unit project in Chicagoland.