NorthMarq, Minneapolis, arranged a $10 million bridge loan to refinance Ridgeview Plaza, a Reno, Nev. grocery-anchored retail center.
David Blum and Michael Elmore of NorthMarq’s Los Angeles office worked with Thomas Powell of the firm’s Las Vegas office and based the financing on a two-year interest-only term with a one-year extension option. NorthMarq arranged this financing through its relationship with a specialty finance real estate investment trust. See the full article here: [...]
President Barack Obama recently went to the web and openly discussed some of his plans for the future of the housing market. His plans still include pulling back on government-sponsored programs like Fanny Mae and Freddie Mac, placing his trust more on the private sector instead. Obama feels that the private sector, with marginal regulation [...]
It seems that Commercial Mortgage-Backed Securities (CMBS) loan delinquencies are falling across the United States. In June, national late pays on CMBS loans fell from 7.37% to 7.18%, a difference of 19 basis points. Numbers this low have not been seen since March of 2010, and they are certainly welcome. With fewer delinquencies on the [...]
It appears that once again we are getting ready to head into another debate about raising the debt ceiling. The age-old battle between Republicans and Democrats will once again become the forefront of attention as this mostly manufactured dispute is settled. On the other hand, most Americans are in the process of pulling the economy [...]