News about properties and real estate
Worries creep into commercial lending [Southern California] O.C. is in a strong position, but there are some fears about borrowers defaulting. Commercial lending is booming as developers rush to keep pace with the demand for office buildings and malls, but some lenders are starting to worry. Lenders and investors in mortgages are losing their enthusiasm …
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Boca condo conversion [South Florida] Frustrated by the snail’s pace of Eden Condominium construction, city officials will not rule out requiring that the community be demolished if the apartment-to-condo conversion continues to drag on. “Obviously, for a variety of reasons, we would like to see it finished,” said Jorge Camejo, Boca Raton’s director of development …
SBS Tower highlights office-condo trends [South Florida] Apartment rental buildings are being turned into condominiums at breakneck speed, but offices are being converted as well. A Coconut Grove office building may be the biggest office-condo conversion yet. A high-rise in Coconut Grove is slated to be turned into office-condominiums, in a deal that appears to …
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$39M Financing Deal Closes for Multifamily Complex [Maryland] The 495-unit Loch Raven Village apartment community will get a new owner and a facelift with the assistance of a $38.5-million joint venture equity and debt financing deal that has just closed. Located at 1711 Edgewood Rd. just off the Baltimore Beltway, The residences are contained within …
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Out of Control? [New Jersey] Home price surge worries longtime residents Hudson County home prices are soaring – and while that might be good news for those who are selling, it’s a cause for concern for residents who don’t want to cash out, according to a new poll by The Jersey Journal/New Jersey City University. …
Baiting a hook for condo buyers [South Florida] In South Florida’s slowing real estate market, single-family home sellers aren’t the only ones getting nervous. Developers of new condominiums are antsy and trying to come up with creative ways to distinguish themselves from the competition. Free closing costs, purchase price discounts and appliance upgrades are just …