Recent years brought new stresses on the construction industry – COVID-19 shutdowns, supply chain woes, labor shortages and bank failures have slowed projects or put them entirely on hold. At the same time, the cost of capital has risen considerably.
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With Federal Reserve Chair Jerome Powell indicating that the Fed will continue to raise interest rates through the end of the year and into 2023, traditional capital providers with strained balance sheets are pulling back on lending. And given the current economic outlook, many senior warehouse line lenders may also look to pull back on financing, opening the door for a more direct asset-by-asset approach. As a result, borrowers need to seek out alternative lenders that creatively finance their projects – enter nontraditional lenders and loan-on-loan financing partners.
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With all signs pointing to an economic recession – presumably arriving midyear or Q3 – how can the commercial real estate community best plan for this event, which asset classes will be particularly hard hit, and what silver linings and opportunities will be available to savvy investors and progressive companies? Offering their insights and perspectives on this topic are Anirban Basu, chairman and CEO of Sage Policy Group and Jennifer LeFurgy, Ph.D., vice president of knowledge and research for NAIOP.
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Marcus & Millichap President and CEO Hessam Nadji set the stage for an in-depth conversation on the market’s uncertainty and where the economy and commercial real estate are headed, featuring Mark Zandi, chief economist with Moody’s Analytics, and panelists Wendy Mann, CEO of CREW Network; Tom McGee, CEO of ICSC; and Marc Selvitelli, president and CEO of NAIOP.
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Midway into a panel discussion at CRE.Converge, a quip about the Federal Reserve behaving like a novice teenaged driver – “way too much gas, way too much brake, way too much gas” – drew laughter from many attending the jampacked session. But palpable nervousness tinged those […]
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At CRE.Converge this week, attendees had the chance to hear from Marci Rossell, expert economic forecaster, former CNBC chief economist and co-host of Squawk Box. Rossell spoke candidly on a broad range of topics from supply chain issues to the challenges in finding labor to the […]
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We’ve all noticed the change — at the supermarket, gas pumps, and nearly everywhere else. Whether it was the cost of your Christmas tree or your New Year’s Eve champagne, prices are significantly higher today than they were just one year ago. In fact, the Consumer […]
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The House of Representatives this week is expected to pass a broad $1.5 trillion infrastructure package covering a diverse number of areas, including surface transportation programs, aviation, housing, water infrastructure, and tax policy, as well as containing many aspects of the so-called “Green New Deal” policy […]
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Economist Douglas Holtz-Eakin Gives his Take on the U.S. Economy and the Government’s Unparalleled Response The global coronavirus pandemic has wreaked havoc on the U.S. economy and caused disruptions of historic proportions. “We’re facing a very different crisis than the one in 2008, which was essentially […]
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As the COVID-19 pandemic spread economic pain across the country last month, members of Congress and the Trump Administration scrambled to pass legislation to respond to the crisis, culminating in the $2.2 trillion Coronavirus Aid, Relief, and Economic Security Act (the CARES Act). This week, however, […]
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