Altamonte Springs, FL, December 10, 2011 --(PR.com)-- Mercantile Capital Corporation, which ranks as one of the nation’s leading providers of U.S. Small Business Administration (SBA) 504 loans for small business owners who want to acquire or develop their own facilities, closed a commercial loan for Ozark Trade Corporation, d.b.a. OST-Texaco recently for $2,600,000 in total project costs. The purpose of the loan is to purchase an existing gas station. The location contains a full service car … [Read more...]
Mercantile Capital Corporation Provides Commercial Real Estate Loan in Houston
December 15, 2011 By Leave a Comment
Latest Commercial Real Estate Loans News
December 15, 2011 By Leave a Comment
Gilbert company buys another historic Detroit buildingDetroit — Dan Gilbert's real estate unit bought a sixth Woodward Avenue building in downtown — another historic structure that was being underused, according to the commercial real estate agent involved in the sale.The 1500 Woodward building was bought for $575,000 by Bedrock Real Estate Service last week, said Robert Mihelich, first vice president of CBRE Inc. The six-story building, on the northeast corner of Woodward and John R, was … [Read more...]
Business as usual for the Yorktowne Hotel
December 13, 2011 By Leave a Comment
The Yorktowne Hotel was re-possessed by a lending company during a sheriff's sale Monday.But sources close to the 11-story historic landmark say visitors won't notice the difference."We are working with the holding company to continue to operate as a hotel and it's business as usual at the Yorktowne," Rick Cunningham, the hotel manager, said.The hotel's former owner, the York Hotel Group, faced a $5.26 million judgement, plus interest from August 2010, according to documents filed with the York … [Read more...]
Real Estate News: Shares of Delinquent Commercial Mortgage-Backed Loans Declines
December 12, 2011 By Leave a Comment
The share of delinquent commercial mortgages that were bundled together and sold as securities declined modestly during the third quarter for the first time since the property downturn began four years ago, according to a survey released Tuesday by the Mortgage Bankers Association.The share of loans at least 30 days past due fell to 8.92% from 9.02% in the second quarter for commercial and multifamily loans in mortgage-backed securities. Those loans have had the worst performance among all … [Read more...]
There’s About To Be A Massive Real Estate Crash In Central Europe
December 12, 2011 By Leave a Comment
Banks with big exposure to Central European real estate are essentially insolvent, but this is masked because they have not revalued the underlying assets, industry sources say.However, with many loans issued in the boom years ahead of the crisis coming up for refinancing and a pullback in funding of regional subsidiaries, these banks could finally be forced to act. While politicians across Central Europe talk up the stability of the banking sectors in their country, hoping to head off the … [Read more...]
Fitch expects ailing real estate markets to improve
December 11, 2011 By Leave a Comment
The commercial and residential real estate markets will continue to slide along the bottom into 2012, but will experience more footholds than missteps on the journey.Fitch Ratings conducted a webinar Friday outlining the credit ratings agency's expectations of structured finance performance in 2012.Multifamily delinquencies will continue to rise in legacy deals that contain poorer-quality borrowers. High unemployment will continue to create volatility in the office commercial real estate … [Read more...]
Latest Commercial Real Estate Loans News
December 5, 2011 By Leave a Comment
Historic Arcade in downtown Cleveland sold at sheriff's auction for .7 million A Canadian hotel and resort company will buy the historic Arcade in downtown Cleveland for just under $7.7 million - the minimum bid required at a foreclosure auction Monday.Skyline International Development Inc. was the lone bidder for the landmark property, a hotel and retail building that runs between Euclid and Superior avenues near East Fourth Street.Based in Toronto, Ontario, the private company owns more than … [Read more...]
Apartment investment firm to target Phoenix in 2012
December 4, 2011 By Leave a Comment
One of the most prolific investors in Phoenix-area apartment properties this year said it plans to spend $100 million on real-estate acquisitions in five Western states with a likely focus on the Phoenix area in 2012.BH Properties LLC, a Los Angeles-based real-estate investment firm, has spent about $40 million this year to acquire six commercial properties and two promissory notes on commercial properties in the Phoenix and Tucson areas.The company also named Andrew Van Tuyle its director of … [Read more...]
