Commercial Construction News
Nonresidential Construction Spending Continues Decline
Total construction spending slipped 1.2% in December, according to Reed Construction Data, but November's figures were revised upward. Since October 2008, nonresidential construction spending has plunged 22%. Full Story, Second Story
Indiana House Wants Greener Building Rules for Government
Indiana's House of Representatives has voted in favor of a bill mandating that local governments, when planning new construction, erect buildings that meet silver LEED standards. While there is debate about the cost of building greener buildings, at least 33 states have some guidelines that follow U.S. Green Building Council standards — but only 9 mandate green construction for all public buildings. Full Story
Study: 50% of Non-Residential Market to Go Green By 2015
A new study shows that green buildings will make up half of all non-residential building stock by 2015, according to venture capital firm Good Energies Inc. Some others say this is a reasonable estimate. "I think it's possible that if green retrofits/renovations represent 20% to 25% of the market by value by 2015, new green building construction could represent the other 20% to 30%," said Eric Glover, an analyst for Canaccord Adams. Full Story
FDIC's Bair: “Expect Higher Commercial Real-Estate Charge-Offs”
Problems in the U.S. commercial real estate market are expected to continue in the first quarter, a top banking regulator said. Federal Deposit Insurance Corp. chairman Sheila Bair said in a speech that regulators expect banks to report higher delinquencies and charge-off rates for commercial real estate properties in the first three months of 2010. Full Story
U.S. Commercial Mortgage Lenders Shun Loans In Need
Dozens of lenders at an industry conference this week said they wanted to increase funding for U.S. commercial real estate, now in a steep downturn due to the lack of credit and poor economy. But the loans they were willing to make weren't the ones that were most needed, leaving many borrowers to struggle, said sources who attended a closed meeting on Tuesday. Full Story
How to Increase Your Income as a Commercial Real Estate Professional
If you are aware of commercial properties in distress due to an impending balloon payment or inability to cover debt service or other current economic factors, we can help. Guardian Solutions will resolve your client's problem and compensate you substantially for referring them. Full Story
‘Tranche Warfare’ Erupts as Property Owners Slide Into Default
Infighting among lenders with different classes of debt, called tranches, is on the rise in the hotel industry and throughout the $3.5 trillion market for commercial real estate loans after property prices fell more than 40% from their peak in 2007. Commercial mortgage defaults more than doubled to 3.4% in last year’s third quarter from a year earlier. Full Story
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