City Councilman Ed Flynn said he opposes the mayor's proposal to increase commercial tax rates. (Stuart Cahill/Boston Herald) Boston City Councilman Ed Flynn opposed the mayor's plan to raise business property taxes above the state limit, saying such a move would harm an already struggling downtown office market. Flynn, according to a statement from his office, chose to oppose the home rule petition presented to City Council this week by Mayor Michelle Wu after speaking with business leaders, residents and the authors of a recent report that warned the city's declining commercial tax base could lead to a budget shortfall…
Author: Private Lending Agent
BOSTON — “Commercial values continue to decline slightly in FY24,” Boston Mayor Michelle Wu said during a Zoom announcement of the city's tax reform proposal.That's like saying it's been raining a little bit lately.How to combat the decline in commercial property values The pandemic-era work-from-home trend appears to be here to stay for many companies, Boston's office vacancy rate has soared to more than 20%, and experts predict that a collapse in commercial real estate values could blow a big hole in the city's budget in the near future. So the mayor is seeking state approval for a potentially large…
The Center for Real Estate and Urban Economic Research is mourning the recent deaths of two beloved retired faculty members who were remembered as outstanding scholars, thoughtful leaders and student advocates. C.F. Thurmans Jr., a Board of Trustees Distinguished Professor and one of the field's leading scholars, served in the Business School for 18 years, including brief stints as interim chair of the Department of Finance and interim dean of the Business School. In addition to his academic pursuits, he played guitar in a rock band and was the head of a large family. He passed away on March 25.…
With interest rates expected to remain high into 2024, the commercial real estate industry is anxiously awaiting a ray of hope that increased transaction volumes will clear the clouds and provide a silver lining. In this environment, some financial institutions have scaled back or even shut off their funding sources over that time, while others have found more patient and stable sources of capital to maintain their levels of activity. See also: Ultra-high net worth individuals and family offices are transforming real estate capital markets The latter group includes private lenders who have raised significant amounts of capital from insurance…
Taking on debt is a common way to finance a business, but it can be risky. If you can't repay your small business loan, you may end up defaulting on it. Defaulting on a business loan can have a variety of negative consequences, from loss of personal assets to bankruptcy.Here we look at what happens if you default on your business loan repayments and give you tips on how to avoid the situation altogether.To better understand the unique needs of your business, we'll begin by completing a short survey.Once you find your perfect match, our team will be happy to…
Our writers and editors used an in-house natural language generation platform to assist with portions of this article, allowing them to focus on adding information that is uniquely helpful. The article was reviewed, fact-checked and edited by our editorial staff prior to publication. Key takeaways It may be possible for businesses with no money to get approved for a business loan Nonprofit lenders often offer microloans with more lenient requirements Other ways to finance a business with no money include business credit cards, business grants and venture capital Without cash on hand, you may not be able to get just…
David DeemBroker Associate714-997-3486 Active inventory over the past few weeks is down 67 homes, or 3%, and now stands at 2,017. There were 1,623 homes on the market in March, 42% fewer than the pre-COVID three-year average (2017-2019). There were 149 more sellers on the market in March this year compared to 2023. Last year, there were 2,142 homes on the market, 125 more, or a 6% increase. The pre-COVID three-year average (2017-2019) was 5,533, up 174%, more than double. · Demand, or pending sales month-over-month, has increased by 79 over the past two weeks, up 5%, and is now…
If you like house flipping shows on Netflix, you'll love this article: Euro Weekly News spoke to some of the best real estate agents on the Costa del Sol to get the inside scoop on house flipping on the Costa del Sol, and we'll go into detail on a range of topics, including the best areas and types of properties to resell and the approximate profit you can make from this type of property investment. House flipping is more than just a business for some: it's a true passion that transforms old, neglected properties into vibrant homes. For real estate…
When deciding between a business bank loan or an SBA loan, which one is right for you will depend on how long your business has been in business, your annual revenue, your credit history, and several other factors.Traditional bank loans generally offer business loans with the lowest interest rates and best terms, making them the first choice for many borrowers seeking financing. However, if a borrower doesn't qualify for a bank loan, a Small Business Administration loan with competitive interest rates and terms can be a great alternative. Take a closer look at bank loans and SBA loans to understand…
For more than a decade, Brookfield had been eyeing Veritas Investments’ vast San Francisco apartment portfolio, a collection of thousands of units in small residential buildings. The Toronto-based mega-manager was almost able to buy the properties just before the pandemic. The deal fell apart. Fast-forward four years and Brookfield finally landed its prize – but under very different circumstances. By buying non-performing first mortgages last year secured by 75 properties – a substantial portion of the Veritas San Francisco portfolio – then winning the assets at a foreclosure auction in January, Brookfield added some 2,000 rent-controlled units to its collection,…