Lenders Look Ahead ? Cautiously
As loss rates in commercial real estate loans plummet, U.S. banks are once again competing to lend the funds that complete the deals. Commercial real estate lending is strong, with 2014 year-end loan balances matching the last peak market of 2007. However, the shadow of the Great Recession still lingers, in lenders? cautionary attitudes and new regulatory oversight. In addition, some markets and commercial real estate sectors are facing new challenges as local and global forces are more tightly intertwined… Read more »
With All This Multi-family Activity, How Will Central Phoenix Look When Everybody Moves In?
All large cities evolve over the course of time, but central Phoenix could look and feel substantially different in the coming years. Infill development within the central corridor is in full swing, particularly multi-family, which experts say will lead to a more diverse and vibrant urban core. From 2012 to 2014, the U.S. Census Bureau recorded 16,773 multi-family permits in Maricopa County, with about 46 percent of those in Phoenix, many in the central basin. Tempe and Scottsdale followed, with about 19 percent… Read more »
The Real Story Behind Getting Investors to Fund Your Syndication
Do you have a process for raising money to fund your syndication? When do you start the money raising process? Well, if you’re like most people who are new to raising money for their syndications, you’ll start raising money after you have a deal under contract. That’s what many of the so called educator guru’s in the market teach; “Find a great deal and the money to fund your syndication will quickly and easily come flowing right in.”… Read more »
Multifamily Construction Costs Fall, Labor Costs Rise
National Real Estate Investor contributor Bendix Anderson looks at the declining costs for some construction materials such as lumber, wall board, and diesel. Meanwhile, however, labor continues to grow more difficult to find, especially lumber and sheet rock trades. The shortage of workers may become even more intense if the construction of single-family homes increases to a rate that was normal before the last boom and bust… Read more »
Big Box Leasing on Steady Rise
The big box picture in Phoenix is looking brighter as Westwood Financial Corp. announces that Smart & Final Extra has now opened as the new anchor tenant at WFC?s Pueblo Point shopping center in Phoenix at 13823 N. Tatum Blvd. Kenneth Loughran, senior vice president of Westwood, tells GlobeSt.com, ?We have seen a lot of big box deals getting done over the past four years. There were about 170 available as of 2011 and we?ve seen a gradual absorption. There are about 120 available now… Read more »