Photo courtesy of Orleans Development. Small Business Incentive Interest Show “Covington is still a place people want to live.” COVINGTON, Ky. – A pet grooming and retail business, a family-owned Nepalese restaurant, a Hawaiian-inspired restaurant and a historic building set to be renovated are among 10 businesses that will receive funding from the city's internationally recognized small business program. The Covington City Commission this week approved five rent assistance grants and five cosmetic improvement incentives that will spur private investment, create new jobs and foster a more attractive business climate in the Covington area. The incentive comes in the third…
Author: Private Lending Agent
Get your free copy of Editor's DigestFT editor Roula Khalaf picks her favourite stories in this weekly newsletter.Signs of stress in the commercial real estate sector are now mounting. Investors have been spooked this month by the commercial real estate loan exposure of lenders such as Community Bank of New York in the U.S., Aosora Bank in Japan and Deutsche Pfandbriefbank in Germany. U.S. Treasury Secretary Janet Yellen also expressed concern last week about the impact of falling real estate valuations on the banking system.Though interest rates are expected to fall this year, the sector remains in a tough spot.…
Boston could lose $1.4 billion in tax revenue over the next five years due to vacant office space, according to a new report released Wednesday by the Boston Policy Institute.The city could face an ongoing funding shortfall of about $500 million per year beyond the first five years, according to the report.The analysis, conducted in collaboration with Tufts University's Center for State Policy Analysis, is examining the economic impact of vacant office space in the city.High interest rates and the post-pandemic shift to remote and hybrid work have depressed commercial real estate values, according to Evan Horowitz of the Center…
Branson, Missouri commercial real estate continues to show remarkable resilience despite recent headwinds. Occupancy rates remain high compared to other cities, partly due to the smaller impact of the work-from-home trend. The office sector also recorded a slight positive net absorption in 2023, despite limited inventory. This contrasts sharply with the national picture, where net absorption of office space has turned negative in recent months as more people work from home and interest rates remain high, causing office leasing to fall in many markets. Net absorption is an important determining factor for investors, developers, brokers, and prospective tenants. It provides…
About $929 billion worth of commercial real estate loans are due to come due this year, according to the Mortgage Bankers Association, up from the $659 billion the association had previously projected.Why did the estimate change so dramatically?Yahoo Finance's David Hollerith explains in the video above.For more expert insights and the latest market trends, click here to watch this full episode of Yahoo Finance Live.Editor's note: This article was written by Stephanie MikulicVideo Transcript[AUDIO LOGO]Akiko Fujita: The regional banking sector is off to a tough start to 2024. The Regional Bank ETF (ticker: KRE) is down about 10% this year…
Downward angle icon Downward angle icon. Deutsche Pfandbriefbank has warned that the commercial real estate sector is facing a crisis on par with the 2008 recession. Reinhard Krauss/Reuters Deutsche Pfandbriefbank said it is preparing for a continued decline in commercial real estate, which the bank called “the biggest real estate crisis since the financial crisis.” Shares in the German bank are down about 25 percent this year. Signs of a commercial real estate crisis continue to grow, with the latest warning coming from German lender Deutsche Pfandbriefbank AG. In a statement released last week after bond prices fell, the bank…
Click the top right corner of the report to view it full screen Investors continue to show strong interest in private real estate despite uncertainty surrounding interest rate trends, inflationary pressures and geopolitical issues. According to PERE's full-year 2023 investor report, allocations to private real estate increased across all institutions, with the average allocation increasing from 7.21% in 2022 to 7.97% in 2023. Indeed, investor demand for the asset class remains strong in 2024. 39% of investors plan to increase their capital investment in private real estate, roughly in line with the 38% who were underinvested in real estate in…
Susan Jubinsky: Let me talk about Morningstar's new view on regional banks in light of what's going on with New York Community Bank. The stock is currently in a steep decline. I'll update our viewers here.David Sekera: At the end of January, New York Community Bank reported a big fourth-quarter net loss. There were a few reasons for the loss. First, the one that everyone was concerned about was the increase in loan loss reserves, especially in office and multifamily. Not surprisingly, for a company like New York Community Bank, a lot of the loan loss reserves are concentrated in…
Detroit, Michigan skyline. Shawn Pavone/ShutterstockMBA CEO Bob Broeksmit said the Basel III proposals would cripple commercial real estate lending.The proposed rules would require banks to hold more capital to protect against loan losses.”Basel III could be the end of bank real estate financing as we know it,” Broeksmit said.The head of the Mortgage Bankers Association said this week that proposed rules requiring bank lenders to maintain thick capital buffers to protect against losses would intensify ongoing turmoil in the real estate market.MBA CEO Bob Broeksmit slammed the proposal, saying it could stifle bank lending and restrict liquidity in the commercial…
Nearly every business needs at least one type of license or permit to operate legally in California. Unfortunately, figuring out exactly what licenses you need to operate in your area or in your specific industry can be a tedious task. Depending on the type of business you have, you may need to obtain a local, county, state, or federal business license. Luckily, California makes this a little easier through the CalGold website. This tool allows you to search by city or county and type of business to see what permits you need and the regulatory agency that governs them. California…