Bank Failures Will Likely Pile Up in Southeast U.S. for Months to Come, Trepp Warns
The Southeast continues to be plagued by a rash of bank failures caused by an excessive exposure to commercial real estate, and analysts say the trend isn’t expected to dissipate anytime soon....
‘Painful’ June Jobs Report Throws Industry a Curveball, Says Bach
To say that the June jobs report released by the U.S. Department of Labor last Friday fell short of expectations would be a gross understatement. ...
$13.8 Million Bank-Owned Multifamily Property Changes Hands in Sparks, Nev.
Marcus & Millichap Real Estate Investment Services has negotiated the sale of The Waterford, a 240-unit, 201,424 sq. ft. distressed multifamily property in Sparks, Nev. ...
Lender-Owned Apartment Complex Trades for $17.1 Million in St. Petersburg, Fla.
A Canadian-based investment group has acquired Skyline Fifth Avenue Apartments, a 178-unit unit complex in St. Petersburg, Fla., in a lender-owned sale....
Westwood Financial Snatches Up Small, Distressed Retail Centers
Last week, Los Angeles-based Westwood Financial Corp. announced it had acquired the 6,336 sq. ft. Stroh Ranch Retail Center in Parker, Colo....
How ‘Bad Boy’ Guarantees Can Make a Non-Recourse Loan Suddenly Become Recourse
Recent court decisions should serve as a warning to borrowers to carefully review the wording of recourse carve-out guarantees in both existing and proposed mortgages, lest they be held fully liable for real estate loans. ...
Behringer Harvard to Capitalize on Rising Tide of Loan Sales, Workouts Through Closed-End Funds
Dallas-based Behringer Harvard has formed BH Capital to acquire a blend of performing and non-performing loans secured by commercial real estate properties. ...
Voit, Grubb & Ellis Broker REO Sale of Industrial Building in Cerritos, Calif.
Bank of America has sold a 64,318 sq. ft. industrial warehouse for $4.3 million in Cerritos, Calif. in a real estate owned (REO) transaction. ...
Bank Failures Taper Off Nationally in May, But Not in Georgia
The number of bank failures receded to five in May following a sharp jump to 13 in April, according to New York-based Trepp LLC. Three of the bank failures occurred in the Southeast, including two in Georgia and one in Florida....
Q&A With Ann Hambly: Restructuring CMBS Loans Is An Uphill Battle
Ann Hambly compares the challenge of modifying a CMBS loan to climbing a mountain. ...
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