Allison Landa
SBA’s New Refinance Program a Valuable Tool
By Barbara Hunter, Regents Bank
In February 2010, President Barack Obama announced several new business lending initiatives to help increase access to capital for small-business owners in order to meet specific challenges brought on by the recession, including the refinance program for owner-occupied commercial real estate. This program allows owners to refinance a conventional loan into an SBA 504 loan.
Strong Cash Flows Support Private Correctional Firms’ Credit Profiles
By Jane Cotroneo, Moody’s Investors Service
Similar to REITs and real estate operating companies, private correctional companies have contractual revenues for their facilities, providing a steady stream of earnings. Unlike REITs, these companies are not required to pay a dividend. Instead, they have chosen to invest their free cash flow into increasing their number of contracted beds.
Tenant Takes Entire Industrial Building
The tenant roster at Ontario Distribution Center II in Ontario, Calif., went from empty to full as Pacific Coast Warehouse Co. signed a lease to fully occupy the 411,500-square-foot property.
New Owner for Dallas Office Complex
Bluffview Towers, a two-building office complex in Dallas, is now part of Commercial Developments International Inc.’s portfolio. The real estate firm acquired the 196,300-square-foot property from Capstar Real Estate Advisors and an institutional partner.
Economy Watch: OECD Optimistic, ISM Mixed
The Organisation for Economic Co-operation and Development–OECD, or the club of the world’s wealthiest nations–said that growth in the G7 economies appears to be stronger than it previously thought, with accelerating private-sector investment and trade boosting recovery. Except for Japan, that is, so that would mean that the “G7 minus 1” economies are doing better.
David Twardock on CRE Lending
Prudential Mortgage Capital Co. president David Twardock explains why insurance firms are vying to make commercial real estate loans. He asserts that pricing is attractive relative to historical benchmarks that are used.
CPE TV: Jamie Woodwell on Why Certain Sectors Are Seeing Delayed Recoveries
Jamie Woodwell, vice president of commercial and multi-family research at the Mortgage Bankers Association, provides his outlook for commercial real estate. He asserts that differing lease terms are a key reason why some sectors are recovering more quickly than others.
Sunstone Prices Public Offering of 4M Shares
Sunstone Hotel Investors Inc. anticipates pocketing $100 million in gross proceeds from the Series D preferred stock.