The race for New York City's commercial real estate projects has been on all sides over the past year, with many contenders from the sports and casino worlds vying for entry.On the leasing side, one of New York's biggest transactions for early 2024 is coming from the world of professional sports, with Major League Soccer (MLS) signing for 126,000 square feet across two floors of Vornado Realty Trust's (VNO) Penn 2 building. The deal nearly doubles the 64,200 square feet MLS previously occupied at 420 Fifth Avenue back in 2015, signaling just how aggressive the 29-year-old professional sports league is…
Author: Private Lending Agent
For much of 2023, Commercial Observer headlines have been filled with reports of the hardships experienced by some of the country's largest owners of office real estate as interest rates rise, vacancy rates soar, demand plummets and property values plummet. Last May, RXR Chairman and CEO Scott Rechler walked away from the 33-story office building at 61 Broadway in the Financial District after failing to repay a $240 million loan that came due. But the loan is now being repaid. See also: Financial deals of the week: Morgan Stanley provides $750 million loan to refinance New York City office In…
Additional content was provided by Research Analyst Kent Cullinane. In today's blog, we will be looking at the real estate sector, specifically commercial real estate, analysing the performance and valuation of various industries within the sector and assessing their prospects. What is Commercial Real Estate? Real estate is divided into two segments: residential and commercial. Residential real estate consists primarily of single-family homes and apartments, while commercial real estate consists of properties purchased for business use, such as office, retail, industrial, and apartment complexes. Current state of the commercial real estate sector Commercial real estate (CRE) has been under immense…
DALLAS, Texas — The commercial real estate lending market slowed in the first quarter of 2024 due to high interest rates and limited credit availability, but narrowing credit spreads point to signs of stabilization, according to new research from CBRE. The CBRE Lending Momentum Index, which tracks the pace of commercial loan closings by CBRE in the U.S., was down 11 percent from the fourth quarter of 2023. The index was down 32.7 percent compared to the strong lending volume in the first quarter of 2023. The index ended the first quarter of 2024 at a value of 168. The…
KivaTypes of LoansPeer-to-Peer Crowdfunding LoansBetter Business Bureau (BBB) Rating Loan Amount Requirements Minimum Credit ScoreNo minimum credit score requiredMinimum requirementsYou must be over 18, live in the United States, use the loan for business purposes, be free of any current foreclosures, bankruptcies or liens, and have a small number of friends or family members willing to lend you a loan (this also applies to residents of Nevada and North Dakota).Interest-free, accessible loans are for borrowers who don't have bank accounts and have a harder time qualifying for financial products. You can market your product to Kiva's 1.6 million lenders. You'll…
Key Takeaways Both Bank of America and Wells Fargo offer business loans to businesses with good to excellent credit. Choose Bank of America for term loans and business credit cards, and Wells Fargo for unsecured business lines of credit. If you want to get business financing from a bank, Bank of America and Wells Fargo are two of the largest banks in the U.S. Bank of America offers many different types of loans, including term loans, lines of credit, SBA loans, and equipment financing, while Wells Fargo focuses on SBA loans and lines of credit. Depending on your needs, either…
The Rhode Island Department of Administration is considering acquiring a 210,000-square-foot building in East Providence from Citizens Bank for use as state offices. Built in 1979 and renovated in 2010, the property at 115 Tripps Lane in East Providence's Riverside neighborhood contains a 60,000-square-foot, state-of-the-art data center that is “uniquely attractive as a long-term investment for state use,” according to a fiscal 2025 budget amendment submitted to the state Legislature by Gov. Dan McKee. McKee is seeking $33.67 million in financing for the purchase. The list price was $27 million, Superintendent Jonathan Womer told the Senate Finance Committee at a…
By Ian WithersLONDON (Reuters) – Some of the world's biggest investors are digging deeper into commercial property lending in a bid to grab market share from withdrawing banks and put an end to the steep fall in property prices.U.S. fund firms PGIM, LaSalle and Nuveen, Canada's Brookfield and QuadReal, Britain's M&G, Schroders and Aviva and France's AXA all told Reuters they plan to increase their credit exposure to real estate.Most banks are focusing on lending to logistics, data centers, multi-family rentals and the premium office market, as the sector continues to struggle across the board, limiting capital inflows.”Our most promising…
Key TakeawaysIn the first half of 2024, the DFW office market saw positive absorption of 175,290 square feet, driven by contributions from all classes. Class A and B vacancy rates are currently at their highest levels in a decade and were unchanged from the previous quarter. For the first time in several quarters, rents for Class A and B properties declined slightly. Over 10 million square feet of sublease space continues to have a significant impact on the market. Dallas-Forth Worth Office Market HighlightsAs we approach the start of 2024, the Dallas-Fort Worth office market faces contrasting economic signs, but…
Nestled among the rolling hills and fertile farmland of southwest Idaho, Middleton charms visitors with its small-town charm, rich agricultural tradition and close-knit community spirit. From beautiful scenery and a historic downtown to a vibrant economy and family-friendly atmosphere, Middleton offers a unique combination of country tranquility and modern conveniences that captivate the heart of all who visit. Area destinations Middleton offers a variety of attractions and destinations for visitors to explore. The city's downtown district is rich in history, with quaint shops, local eateries and historic buildings reminiscent of a bygone era. The nearby Boise River offers outdoor recreational…