ARCHIVE - Tag: Commercial Mortgages
Andy Little

RICHMOND TIMES-DISPATCH

by Andrew Little, Special Correspondent

Bruce Springsteen released his “Born in the USA” album in 1984, which included a top 10 single titled “I’m Goin’ Down.”

Vampire Weekend, an indie band more popular with my daughters, did a rendition of that song in 2010.

Today, many commercial real estate investors are feeling the same sentiment expressed in the song — a slipping away of the love received just a few months ago from tenants and lenders alike.


Andy Little

RICHMOND TIMES-DISPATCH

by Andrew Little, Special Correspondent

U.S. Sen. Tim Kaine, D-Va., was interviewed recently about the coronavirus and aptly quoted a Tom Petty song from 1981 in his response: “The waiting is the hardest part.”

There is some truth to those lyrics.

In the early days of the coronavirus, the market enabled some developers to take advantage of lower rates. But that has changed in the past few weeks,


Andy Little

RICHMOND TIMES-DISPATCH

by Andrew Little, Special Correspondent

Like McFadden and Whitehead’s disco hit in 1979, the commercial real estate market is singing “Ain’t No Stoppin’ Us Now.”

With interest rates riding along at historic lows, employment surging and gross domestic product growing, it’s hard to see when the music stops.

Even though Treasury yields climbed slightly from their September lows, commercial rates continue to be attractive and are now in the 3.25% to 3.5% range for lower leverage 5- and 10-year mortgages,


Andy Little

RICHMOND TIMES-DISPATCH

by Andrew Little, Special Correspondent

Like the lyrics from Elton John’s 1983 hit “I’m Still Standing,” the economy has sustained multiple headline-grabbing shocks from around the world for the past few years but continues to chug along.

Yet the crescendo of recession talk seems to be growing louder and louder in recent weeks.

When all the noise is turned down, however, the only tangible evidence of a slowdown showing up in the U.S.


Andy Little

RICHMOND TIMES-DISPATCH

by Andrew Little, Special Correspondent

It’s official.

Like an alternative verse to The Beatles hit song “A Long and Winding Road,” the U.S. last month entered the longest economic recovery in history.

At the end of last month, the Federal Reserve also lowered the Federal Funds target rate by 0.25%. While this change surprised virtually no one, it indicated to the investing public that, yes,