The near-term outlook for commercial real estate (CRE) is increasingly uncertain due to rising interest rates and concerns of a prolonged economic downturn. Banks are currently facing a worst-case scenario as rising interest rates lead to tighter credit standards and regulators put greater scrutiny on the quality of CRE loans. Tightening lending markets and a selloff in real estate investment trust (REIT) stocks suggest that CRE yield expectations are being reassessed, leading to price declines and distress for the specific asset class. If we are entering a distress cycle, it is in the early stages, with transaction volume down nearly…
Author: Private Lending Agent
A 58-year-old California man who appeared on the HGTV home improvement competition series has been convicted of real estate fraud and sentenced to four years in prison, prosecutors announced Tuesday.Charles “Todd” Hill was also ordered to pay $9.4 million in restitution, the Santa Clara County District Attorney's Office announced in a news release.Hill was indicted in 2019 and convicted last September of committing “multiple fraud schemes” after pleading guilty to “grand theft and aggravated white collar crimes against all victims,” according to prosecutors.”Some people see the huge amounts of money flowing into Silicon Valley real estate as a business opportunity,”…
A 58-year-old California man who appeared on the HGTV home improvement competition series has been convicted of real estate fraud and sentenced to four years in prison, prosecutors announced Tuesday.Charles “Todd” Hill was also ordered to pay $9.4 million in restitution, the Santa Clara County District Attorney's Office announced in a news release.Hill was indicted in 2019 and convicted last September of committing “multiple fraud schemes” after pleading guilty to “grand theft and aggravated white collar crimes against all victims,” according to prosecutors.”Some people see the huge amounts of money flowing into Silicon Valley real estate as a business opportunity,”…
Who would have thought that a home-flipping character calling himself “Mr. Flip It” on an HGTV reality show would be so deeply involved in real estate fraud? South Bay man Charles “Todd” Hill was just sentenced to four years in prison for a $10 million fraud.In 2014, HGTV had a reality show called “Flip It to Win It” (it only ran for one season). Set in Silicon Valley, the premise of the show was that “five teams of skilled real estate agents competed to win abandoned houses without ever seeing them in person.” The trailer below introduces one of these…
(KRON) — A former HGTV star was sentenced to prison Tuesday for conspiring to commit real estate and financial fraud against 11 victims, prosecutors announced. Charles “Todd” Hill, 58, of Los Gatos, was a star of “Flip It to Win It.” “The concept of the show was that he would buy dilapidated homes, renovate them, and sell them at a profit. Instead, Hill spent millions on over-budget renovations, laundered the profits, and pocketed millions of dollars of his fraudulent gains,” the Santa Clara County District Attorney's Office wrote. The judge sentenced Hill to four years in prison and ordered him…
While property investors are not yet considering the carbon in their investments, buyers will increasingly take carbon into account when underwriting assets in future, members heard at the PERE Network's Decarbonisation Forum in London. Klaus Mathiesen, co-CEO and partner at NREP-backed investment firm Urban Partners, told a panel of asset managers that his firm had not yet seen buyer preference for low-carbon assets because it had been very difficult for real estate investors to measure carbon emissions in a relatively “disjointed and fragmented” database. But as industry awareness around decarbonization continues to grow, some investors expect carbon emissions to become…
Sky-high valuations have been added to the list of challenges facing Dallas-area commercial property owners.Citing the Dallas Central Appraisal District, Bisnow reported that commercial property assessments in Dallas County are up 21 percent from last year, despite signs of a slowing market. Ryan Chismark, Partner, Meritax Advisors (LinkedIn) While the commercial sector saw double-digit increases across the board, some asset classes were hit harder than others. The sharp rise in valuations revealed in preliminary assessments contrasts sharply with the actual market conditions as perceived by property owners. “We're not surprised that the notice price was high, as appraisal districts tend…
The team from John B. Levy & Company, including John Levy, standing third from the right. John B. Levy & Co. is used to helping raise debt and equity for real estate transactions and sometimes making acquisitions itself. Now, with its latest assignment, the firm has a slightly different role when it comes to financing transactions. The Innsbrook-based company announced it was recently appointed administrator of a $50 million pool of external capital that will be deployed entirely in commercial real estate transactions. The company said the eight-figure allocation came from an unnamed “Fortune 500 insurance company” with which JBLco…
A major Northern Virginia real estate developer has turned to the CMBS market to refinance two of its prized office assets. Monday Properties has secured a combined $207 million to refinance its luxury office tower at 1812 North Moore Street in Arlington, Virginia, and Shirlington Gateway, a 206,000-square-foot medical office building, Commercial Observer reports.See also: Ultra-high net worth individuals and family offices are transforming real estate capital markets Citi Real Estate Funding provided two five-year, fixed-rate commercial mortgage-backed securities loans to recapitalize two properties. Citi refinanced 1812 North Moore Street for $173 million and Shirlington Gateway for $32 million. Anthony…
City officials say the measure, which must be approved by the City Council and state legislature, is necessary to keep the city on a balanced budget and ensure homeowners don't face big tax hikes. It's similar to steps then-Mayor Thomas Menino took in 2004 to cushion the blow to homeowners when the city's office market took a hit after the dot-com bubble burst.But while all council members agreed on the need to maintain stability for homeowners, some, including leaders of industry and policy groups, worried that further increases in commercial property tax rates could have a negative impact on small…