Joel's Twitter Feed
- Multifamily Lenders Share Their Biggest Concerns For The Road Ahead - http://nreionline.com/news/multifamily_lenders_biggest_concerns_0203/
- CMBS Delinquency Could Peak at 12%: http://bit.ly/8GMPdG via @addthis
- Remington Financial Group, Inc. - New Distressed Owner and Debt Opportunities Program, http://hubpages.com/t/db8c6
- Remington Financial has two new webinars are available for brokers to help find and structure new financing options for distressed owners.
- Lack of Bank Liquidity Threatens Commercial Real Estate Market http://www.dsnews.com/s/u-mhn2 #dsnews
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Distressed Owner Recapitalization options
For Close to two years, commercial real estate lenders have put off dealing with distressed loans. Although retail sales are on the rise, the amount of distressed owners in retail properties continues to grow. Until now, banks have spent most of their time resolving residential and construction loans. This year, they are turning their attention towards retail and office loans. Since this time last year, the amount of retail properties on bank balance sheets has more than quadrupled. The number of distressed properties has more than tripled. This is where Remington’s recapitalization program comes in.
New Construction Loans from Remington Are Available
In my Remington newsletter this week I noted the availability from Remington of new construction loans. The positive news about the manufacturing sector brings hope that construction will increase, too.
Borrowers often require follon-financing when a construction loan comes due, and so lenders sometimes offer construction-to-permanent loan programs that provide construction loans during the building phase and longer-term fixed-rate financing that kicks in upon issuance of the certificate of occupancy. This two-in-one loan process tends to be more convenient and less costly for borrowers in that there is only one loan application and one closing, with associated fees, instead of two.
Because of the complexity of construction loan financing, borrowers may find it difficult to compare construction-to-permanent loan financing with the two-loan process. That’s where I can help.
The market-focused expertise of our Structured Finance Group at Remington and our Capital Markets Group with its global network of public and private capital sources takes the guess work out of construction lending. Our commercial real estate clients are able to more often secure the best possible rates and terms consistent with their objectives and market conditions at the time.
Please call me if you’re in the market for a construction loan – we can make your next project a success.
Thank you – Joel Nathanson, Remington