ARCHIVE - Year: 2014


By Mark Heschmeyer

March 12, 2014
Based on CoStar’s tracking of more than 125,000 repeat sales since 1996, the percentage of total observed paired CRE property sales that closed in January 2014 and were classified as distress sales dipped below 10% of all sales; this is down sharply from a peak of 35% in October 2010.

Importantly though, this doesn’t mean the market for distressed property sales isn’t active unto itself.


Richmond Times-Dispatch

Andrew Little, May 12, 2014

It is counterintuitive to use the word discipline in a market as heated as this one.

However, we are seeing a fair amount of discipline from lenders recently, something that was absolutely missing in 2006 and 2007 when the market was peaking.

The control can be seen at the construction level, where some lenders are tightening their underwriting standards and cutting back production.


RICHMOND BIZSENSE

BURL ROLETT  FEBRUARY 3, 2014

With a deadline fast approaching, a real estate giant is making a nine-figure investment in a major Richmond mall.

Taubman Centers has decided to pay off the almost $100 million it owes on a mortgage backed by Stony Point Fashion Park months before the 10-year loan was scheduled to come due.

Taubman spokesperson Barbara Baker said the Michigan-based REIT chose to close out the debt now because it would have faced an early payment penalty for paying the loan back before Jan.