The biggest and fastest rate-hiking cycle in the last 40 years, raising the federal funds rate by 5.25% from March 2022 to July 2023, was widely expected to cause a recession in 2023. However, real gross domestic product (GDP) growth unexpectedly accelerated from 1.9% in 2022 to 2.5% in 2023.So why is the economy so resistant to these rate hikes?We see four main factors behind this:Households have built up surplus savings during the pandemic and businesses have increased their cash holdings, which are now being spent. Many borrowers are locked into low interest rates on mortgages and corporate bonds, which…
Author: Private Lending Agent
NEW YORK, May 07, 2024–(BUSINESS WIRE)–Granite Point Mortgage Trust Inc. (NYSE: GPMT) (“GPMT,” “Granite Point” or the “Company”) today announced its financial results for the quarter ending March 31, 2024, and provided an update on its activities subsequent to quarter-end. A presentation containing first quarter 2024 financial results can be viewed at www.gpmtreit.com.”Our first quarter earnings were primarily affected by the factors continuing to impact the commercial real estate sector, including prolonged high interest rates, historically low transaction volume and suppressed market liquidity,” said Jack Taylor, President and Chief Executive Officer of Granite Point. “We increased our CECL reserves in…
CHICAGO, May 07, 2024 (GLOBE NEWSWIRE) — Chicago Atlantic Real Estate Finance, Inc. (NASDAQ: REFI) (“Chicago Atlantic” or the “Company”), a commercial mortgage real estate investment trust, today announced its results for the first quarter ended March 31, 2024. John Mazarakis, Executive Chairman of Chicago Atlantic, noted, “We are thrilled with progress toward regulatory reform resulting from the recent news of the DEA’s commitment to the rescheduling of cannabis. Once enacted, the policy change is likely to bring significant benefits to the U.S. cannabis industry, including the elimination of punitive federal tax burdens, increased access to capital, and increased employment…
The outcome of the $550 million foreclosure case could reshape the commercial real estate industry.Fortress Investment Group provides high-value loans to real estate developers. The group is planning the largest foreclosure in American history. The targets of the foreclosure are the Coen brothers, who owe Fortress approximately $550 million in loans. Their property portfolio stretches from New York to Florida. The methods being used are also unique for such a large-scale foreclosure.A typical foreclosure process is lengthy and involves court hearings, with the seized assets being auctioned off to the highest bidder, but Fortress is seeking to recover the loan…
Recent Commercial Real Estate Transactions 5/8/24 Leases Mid-America Real Estate Bright Dental leased 3,130 square feet from MKE BLK&NC2 LLC in the Deere neighborhood of Milwaukee, Wisconsin. Dan Rosenfeld and Emily Smits represented the landlord in the lease transaction. Valvoline ground leased 0.80 acres from Cool Investments, LLC at 1100 E Riverview Expressway in Wisconsin Rapids, Wisconsin. Joe Kleiman represented the tenant. To continue reading this article… Become a BizTimes Insider today and get instant access to subscriber-only content and more. Learn more and become an insider Leases Mid-America Real Estate Bright Dental leased 3,130 square feet in the Deere…
Released on May 7, 2024Submitted by CBRE Group, Inc.Provided by: CBRECBREAmerica's solar surgeAs the U.S. invests in renewable energy, solar power continues to gain momentum, with installations growing 22% annually over the past decade and expected to grow 51% in 2023 alone.2 According to the Solar Energy Industries Association, this growth is driven by the following factors:The decline in the cost of solar photovoltaic (PV) installations, growing demand for sustainable electricity from both the public and private sectors, and federal policies such as the Solar Investment Tax Credit (ITC) and, more recently, the Inflation Reduction Act (IRA) haveAs of the…
TITLETOWN — A commercial property near Lambeau Field is back on the market, and it's on the same parcel as two other properties recently purchased by the Green Bay Packers.The building and 0.47 acres at 841 Mike McCarthy Way are for sale for $1.5 million. The building is currently home to Team 2 Racing's motorsports shop, but the company does not own the building. Real estate agent Mike Hubert says the property has received more clicks than any other listing since it was listed Friday. The owners of Soap Products LLC across the street told NBC 26 they recently signed…
sale industry 25 I Drive, LLC purchased the 8,160-square-foot building at 25 Industrial Drive in Oakland from Richard Haskins, Nick Lucas of The Boulos Company and Don Plourde of Coldwell Banker. Brimar, LLC purchased the 10,000± square foot site at 26 Commerce Drive in Arundel from Arundel Commerce Lot 4, LLC, TC Haffenreffer and Sylas Hatch of The Dunham Group and Becky Baker of Anchor Real Estate. land St. George, LLC purchased 5.41± AC at 820 Ossipee Trail in Standish from Guy W. Plummer Jr., Mike Anderson of Malone Commercial Brokers and Noah Stebbins of The Boulos Company. MaineHealth purchased…
In 2017, Blackstone — the world’s largest private-equity firm, which usually caters to big institutions and the very wealthy — decided to give ordinary investors an opportunity to get in on the firm’s magic. It created BREIT, a private fund that buys commercial real estate like warehouses and apartment buildings, and marketed it to everyday investors as an “all-weather strategy to build long-term wealth across market cycles.”And it was magic: By offering an annual dividend of about 4% in a world where interest rates were close to zero, BREIT quickly became a giant. At its peak in 2021, the fund…
8 Tips for Selling Your House and Moving Out of State Preparing for a big move takes a ton of planning, especially if you're moving far away, across state lines. Add in the sale of your home, and you've got a big project ahead of you. With so many moving parts, it's important to focus on selling your home; if that doesn't happen, the move may not even happen. Here are eight detailed tactics to make the process of selling your home and moving out of state less stressful. 1. Sell your house at the right price A common pitfall…