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Commercial Real Estate Financing
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Small balance commercial financing is changing rapidly as more lenders enter the enormous market for commercial real estate loans. Typical commercial financing in the past has been very conservative but today there are programs that will allow up to 97% loan to value on commercial owner occuppied properties. In the past, many commercial lenders offered products that required reporting financials year to year, balloon repayment requirements, and a banking relationship. Todays commercial loan market now has straight amortization periods (no balloon), never requiring the borrower to "requalify" for the loan, and up to 30 year fixed rate periods.Commercial Loans are different than residential loans. Lenders will qualify the property by looking at it's cash-flow as well as qualifying the borrower. The main thing lenders want to see is a positive cash flow after expenses an a commercial property.
Commercial Real Estate Financing in the News:
| Priest pleads guilty to $2.7M real estate scheme (WBBM Newsradio 780 Chicago) |
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SOUTH BEND, Ind. (AP) -- A northern Indiana man pleaded guilty Wednesday in federal court to a scheme defrauding real estate developers and churches of more than $2.7 million while presenting himself as a priest, court documents said.
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| Chicago real estate firm takes control of 2 office buildings in North Dallas' Preston Center (Dallas Morning News) |
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A Chicago real estate investment company has taken over ownership of two large Dallas office projects.
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| Pennsylvania Real Estate Investment Trust Reports Fourth Quarter and Full Year 2009 Results (Business Wire via Yahoo! Finance) |
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PHILADELPHIA----Pennsylvania Real Estate Investment Trust today reported results for the quarter and full year ended December 31, 2009. A description of each non-GAAP financial measure and the related reconciliation to the comparable GAAP measure are located at the end of this press release.
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| Commercial Real Estate: Distressed sales fears overblown, says expert (Gazette.net) |
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This 24-story apartment tower across from White Flint Mall, shown in an artist’s rendering, is now reportedly the tallest building in Montgomery County and is part of North Bethesda Market, a mixed-use project by The JBG Cos. of Chevy Chase that is to open this summer.
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| Real estate investors sue developer for $390M (Crain's New York Business) |
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James Comtois - Real estate investors David Workman and B. Tuckey Devlin are suing developer Related Companies for $390 million.
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