Finance Lending
Venture West Arranges Loan on Ralphs Supermarket in Santa Monica
July 14, 2008
Venture West Funding Inc. has arranged a $17 million mortgage loan on a Ralphs retail center in Santa Monica, Calif. The center is located at 1644 Cloverfield Boulevard and Ralphs Supermarket is the single-tenant with a 55,000-square-foot building. Venture West Funding arranged the financing through Washington Mutual Bank for affiliates of Robinson Properties Group.
Recent Lending Headlines
Economic Update – CRE Defaults Head for High Ground
June 10, 2009
A new report by Real Estate Econometrics, based on FDIC data, puts the commercial real estate loan default rate at its highest level in more than a decade and a half, at least those loans held by regulated deposit-taking institutions—banks and thrifts, for the most part. The default rate soared from 1.62 percent in the last quarter of 2008 to 2.25 percent in the first quarter of 2009. That rate doesn’t include defaults on loans associated with multi-family rental properties, which Real Estate Econometrics put at 2.45 percent in the first quarter of 2009, up 68 basis points from the previous quarter.
Amid Continuing Market Decline, First Industrial Nabs $154M in Financing
June 08, 2009
Despite the ongoing weakening of industrial market fundamentals, banks are warming up to certain players like First Industrial Realty Trust Inc., which has just managed to get its hands on $154 million in the form of three loans secured by assets encompassing a total of 6.3 million square feet.
CRE Mortgage Starts Plummeted in '08: MBA
June 05, 2009
After seeing phenomenal commercial mortgage originations in 2006 and 2007, figures from 2008 show a 65 percent decrease in volume, according to the Mortgage Bankers Association's 2008 commercial real estate/multi-family finance report.
Amid Troubled Hotel Sector, Companies Look to Boost Management Portfolios
June 05, 2009
Many hotel owners are looking at a troubling two years or so, as a large portion of their loans are coming due for refinancing in an environment of declining RevPar. In other words, many owners will be asked by lenders to contribute more equity into their loans, just when that money may be very hard to come by.
Lack of Leverage Lends Strength, REIT Week Panel Maintains
June 04, 2009
The bad news is, the United States is in a Great Recession and the commercial real estate market is likely to feel continued pain during the next two years as corporate cutbacks result in weaker fundamentals. The good news is, the public equity markets have been improving in the past few months, with returns bouncing back substantially and multiples back down to more reasonable levels as the market has responded to REIT success at raising capital through secondary offerings.
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