A 24 acre commercial site located in Lincoln Street south of the Fred Meyer shopping center will face foreclosure unless the developer brings its loan current with Bank of the Northwest of Bellevue. This site – which is most wooded – has been famous as a camping area for homeless people. In a foreclosure sale [...]
You will be interested to know – latest statistics reports point towards a picture of slow but definite moderation of pain, presently suffered by commercial real estate business. First – the delinquency rate for securitized commercial real-estate loans have been reported to have fallen in the month of October; the first time we are hearing [...]
Jacob’s Garden, an upscale gardening center located in Whiteford Township, Michigan was closed suddenly because it was facing foreclosure from its lenders, FirstMerit Bank of Akron. The gardening center had a $2.7 million mortgage and $600,000 general business loan from the bank. The lenders didn’t reveal the amount paid by the borrower. However, documents submitted [...]
The luxury condominium project, One Steamboat Place, located adjacent to the Steamboat gondola now faces foreclosure. The reason? Its developers owe $100 million on its original construction loan they got from several lenders. The developers think positive as they say along with two large investors that they are in the middle of negotiations with the [...]
The commercial real estate property market is suffering from woes created by the weak economy, as we know it. In this context, the sentiment expressed by the real estate executives is the indicator, to gauge the trends and activity levels on a quarterly basis. The latest survey conducted by the Real Estate Roundtable, regarding outlook [...]
The construction industry as a whole, across the country is expected to get a shot in the arm by next year, according to the latest forecast. There are no different opinions about the bleak scenario prevailed in the real estate industry, both residential and commercial, in 2008 and 2009. But there are signs of rebound, [...]
Commercial real estate lending become so tough that it caused closing of innumerable banks in the last few years; and more banks collapsing, the Federal Deposit Insurance Corporation is contemplating the new way inevitably, to bundle out the mortgages on hard-to-value commercial assets of these failed banks and sell them back to the private sector [...]
From the downturned commercial real estate property market for the last few years, one could not hear good news of purchase activity often. But with signs of market rebound appearing in the commercial property horizon, we are coming across such news from the media of late. The San Francisco Bay Area of California, one of [...]
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