Everyone's Blog Posts - Real Estate Finance2024-03-19T06:32:39Zhttps://realestatefinance.ning.com/profiles/blog/feed?xn_auth=noShovel-ready Commercial? Large Multifamily? Our Fully Licensed Funding Sources are ready NOW!tag:realestatefinance.ning.com,2024-03-17:6517464:BlogPost:4987642024-03-17T15:44:17.000ZDr Ghttps://realestatefinance.ning.com/profile/DrG
<p><a href="https://storage.ning.com/topology/rest/1.0/file/get/12398112282?profile=original" target="_blank" rel="noopener"><img src="https://storage.ning.com/topology/rest/1.0/file/get/12398112282?profile=RESIZE_710x" class="align-center"/></a></p>
<p><a href="https://storage.ning.com/topology/rest/1.0/file/get/12398112282?profile=original" target="_blank" rel="noopener"><img src="https://storage.ning.com/topology/rest/1.0/file/get/12398112282?profile=RESIZE_710x" class="align-center"/></a></p>FINANCING FOR ONE TO FOUR FAMILY INVESTMENT PROPERTIES NATIONWIDE CAN DO 600 CREDIT SCORES AND BETTERtag:realestatefinance.ning.com,2024-03-17:6517464:BlogPost:4985692024-03-17T06:14:08.000ZRichard Milfordhttps://realestatefinance.ning.com/profile/RichardMilford465
<p></p>
<p><em><strong>FINANCING FOR CONSTRUCTION AND REHAB AND RENOVATING FOR RESIDENTIAL AND COMMERCIAL PROPERTIES AND FOR CANNABIS PROJECTS </strong></em></p>
<p><em><strong>FINANCING FOR CANNABIS PROJECTS 500,000 AND ABOVE</strong></em></p>
<p class="fpg"><em><strong> TYPES OF LOANS</strong></em></p>
<div><ul>
<li><em><strong>Fix & Flip Loans </strong></em></li>
<li><em><strong>Bridge Loans</strong></em></li>
<li><em><strong>New Construction…</strong></em></li>
</ul>
</div>
<p></p>
<p><em><strong>FINANCING FOR CONSTRUCTION AND REHAB AND RENOVATING FOR RESIDENTIAL AND COMMERCIAL PROPERTIES AND FOR CANNABIS PROJECTS </strong></em></p>
<p><em><strong>FINANCING FOR CANNABIS PROJECTS 500,000 AND ABOVE</strong></em></p>
<p class="fpg"><em><strong> TYPES OF LOANS</strong></em></p>
<div><ul>
<li><em><strong>Fix & Flip Loans </strong></em></li>
<li><em><strong>Bridge Loans</strong></em></li>
<li><em><strong>New Construction Loans</strong></em></li>
<li><em><strong>Distressed/Foreclosure Loans</strong></em></li>
<li><em><strong>Refinance Loans</strong></em></li>
</ul>
<h2><em><strong>Short and Medium Term Financing for Residential and Commercial Real Estate 1 to 5 years </strong></em></h2>
<p><em><strong>Loan Amounts: 500,000 to 25,000,000</strong></em></p>
<p><em><strong>FIX AND FLIP FINANCING FOR ONE TO FOUR FAMILY HOUSES 100,000 TO 5,000,000 </strong></em></p>
<p><em><strong>Our real estate financing short-term loans (typically 12-36 months months), secured by first mortgage liens on real estate property held for investment purposes. Construction financing for new and existing projects including multi-family, assisted living, hospitality, industrial and office properties and mobile home parks </strong></em></p>
<h3><em><strong>How loans are generally used</strong></em></h3>
<ul>
<li><em><strong>Acquire and/or renovate existing residential real estate properties</strong></em></li>
<li><em><strong>Acquire vacant real estate and construct residential real properties</strong></em></li>
<li><em><strong>Purchase and hold income producing properties</strong></em></li>
<li><em><strong>New Construction of residential and commercial real estate properties</strong></em></li>
<li><em><strong>Purchase of residential and commercial real estate properties</strong></em></li>
<li><em><strong>Refinancing residential and commercial properties</strong></em></li>
</ul>
<h3><em><strong> NATIONWIDE </strong></em></h3>
<div><p><em><strong><a href="https://na01.safelinks.protection.outlook.com/?url=http%3A%2F%2Ftheunitedstatesfinancecompany.com%2Fwp-content%2Fuploads%2F2020%2F12%2FReal-Estate-Programs-1.pdf&data=04%7C01%7C%7C0b3449f7af174b1e243008d8d6f82286%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C637495708502481305%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=Ae4gff2JALtR3aBTKzrynW%2BGTFt2PWIAJ90haXrkmAg%3D&reserved=0" rel="nofollow">Real Estate Programs - CLICK HERE</a></strong></em></p>
<p><em><strong><a href="https://na01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.cognitoforms.com%2FUnitedStatesFinance1%2FMILFORDREALESTATEQUALIFICATIONFORM&data=04%7C01%7C%7C0b3449f7af174b1e243008d8d6f82286%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C637495708502501294%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=xV4f83K8LRedT3R1AQkaS8v3FeQ7f8eE3ipyKfxnQHE%3D&reserved=0" rel="nofollow">Milford Real Estate Qualification Form - CLICK HERE</a></strong></em></p>
<h3><em><strong> </strong></em></h3>
<p><em><strong> </strong></em></p>
<p><em><strong>Email: Milford@commercialmortgagecap.com</strong></em></p>
<p><em><strong>Telephone/Text: 541-515-0666 </strong></em></p>
<p><em><strong>Websites: <a href="http://www.commercialmortgagecap.com/" rel="nofollow noopener" target="_blank">www.commercialmortgagecap.com</a> and <a href="http://www.financingmyproperty.com/" rel="nofollow noopener" target="_blank">www.financingmyproperty.com</a></strong></em></p>
</div>
</div>
<p><em><strong> </strong></em></p>
<p><em><strong> Please visit our new full service website which has all of our financing programs </strong></em></p>
<p><em><strong> <a href="http://www.thecommercialmortgagestore.com/" target="_blank" rel="noopener">WWW.THECOMMERCIALMORTGAGESTORE.COM</a></strong></em></p>FINANCING FOR 1 TO 4 FAMILY PROPERTIES NATIONWIDE 100,000 TO 25,000,000 NEW APARTMENT LOAN PROGRAMtag:realestatefinance.ning.com,2024-03-16:6517464:BlogPost:4982692024-03-16T04:22:20.000ZRichard Milfordhttps://realestatefinance.ning.com/profile/RichardMilford465
<p></p>
<p><span style="font-size: 12pt;"><em><strong>FINANCING FOR CONSTRUCTION AND REHAB AND RENOVATING FOR RESIDENTIAL AND COMMERCIAL PROPERTIES AND FOR CANNABIS PROJECTS </strong></em></span></p>
<p><span style="font-size: 12pt;"><em><strong>FINANCING FOR 1 TO 4 FAMILY PROPERTIES THROUGHOUT THE USA 100,000 AND ABOVE FIX AND FLIP PROJECTS </strong></em></span></p>
<p><span style="font-size: 12pt;"><em><strong>NEW APARTMENT LOAN PROGRAM RATES AS LOW AS 6% FOR 5, 7 AND 10 YEAR TERMS…</strong></em></span></p>
<p></p>
<p><span style="font-size: 12pt;"><em><strong>FINANCING FOR CONSTRUCTION AND REHAB AND RENOVATING FOR RESIDENTIAL AND COMMERCIAL PROPERTIES AND FOR CANNABIS PROJECTS </strong></em></span></p>
<p><span style="font-size: 12pt;"><em><strong>FINANCING FOR 1 TO 4 FAMILY PROPERTIES THROUGHOUT THE USA 100,000 AND ABOVE FIX AND FLIP PROJECTS </strong></em></span></p>
<p><span style="font-size: 12pt;"><em><strong>NEW APARTMENT LOAN PROGRAM RATES AS LOW AS 6% FOR 5, 7 AND 10 YEAR TERMS WITH 30 AND 35 YEAR AMORTIZATIONS </strong></em></span></p>
<p><span style="font-size: 12pt;"><em><strong>LAND AND HOSPITALITY PROJECTS 500,000 AND ABOVE </strong></em></span></p>
<p><span style="font-size: 12pt;"><em><strong>FINANCING FOR CANNABIS PROJECTS 500,000 AND ABOVE</strong></em></span></p>
<p class="fpg"><span style="font-size: 12pt;"><em><strong> TYPES OF LOANS</strong></em></span></p>
<div><ul>
<li><span style="font-size: 12pt;"><em><strong>Fix & Flip Loans </strong></em></span></li>
<li><span style="font-size: 12pt;"><em><strong>Bridge Loans</strong></em></span></li>
<li><span style="font-size: 12pt;"><em><strong>New Construction Loans</strong></em></span></li>
<li><span style="font-size: 12pt;"><em><strong>Distressed/Foreclosure Loans</strong></em></span></li>
<li><span style="font-size: 12pt;"><em><strong>Refinance Loans</strong></em></span></li>
</ul>
<h2><span style="font-size: 12pt;"><em><strong>Short and Medium Term Financing for Residential and Commercial Real Estate 1 to 5 years </strong></em></span></h2>
<p><span style="font-size: 12pt;"><em><strong>Loan Amounts: 500,000 to 25,000,000</strong></em></span></p>
<p></p>
<p><span style="font-size: 12pt;"><em><strong>Our real estate financing short-term loans (typically 12-36 months months), secured by first mortgage liens on real estate property held for investment purposes. Construction financing for new and existing projects including multi-family, assisted living, hospitality, industrial and office properties and mobile home parks </strong></em></span></p>
<h3><span style="font-size: 12pt;"><em><strong>How loans are generally used</strong></em></span></h3>
<ul>
<li><span style="font-size: 12pt;"><em><strong>Acquire and/or renovate existing residential real estate properties</strong></em></span></li>
<li><span style="font-size: 12pt;"><em><strong>Acquire vacant real estate and construct residential real properties</strong></em></span></li>
<li><span style="font-size: 12pt;"><em><strong>Purchase and hold income producing properties</strong></em></span></li>
<li><span style="font-size: 12pt;"><em><strong>New Construction of residential and commercial real estate properties</strong></em></span></li>
<li><span style="font-size: 12pt;"><em><strong>Purchase of residential and commercial real estate properties</strong></em></span></li>
<li><span style="font-size: 12pt;"><em><strong>Refinancing residential and commercial properties</strong></em></span></li>
</ul>
<h3><span style="font-size: 12pt;"><em><strong> NATIONWIDE </strong></em></span></h3>
<div><p><span style="font-size: 12pt;"><em><strong><a href="https://na01.safelinks.protection.outlook.com/?url=http%3A%2F%2Ftheunitedstatesfinancecompany.com%2Fwp-content%2Fuploads%2F2020%2F12%2FReal-Estate-Programs-1.pdf&data=04%7C01%7C%7C0b3449f7af174b1e243008d8d6f82286%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C637495708502481305%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=Ae4gff2JALtR3aBTKzrynW%2BGTFt2PWIAJ90haXrkmAg%3D&reserved=0" rel="nofollow">Real Estate Programs - CLICK HERE</a></strong></em></span></p>
<p><span style="font-size: 12pt;"><em><strong><a href="https://na01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.cognitoforms.com%2FUnitedStatesFinance1%2FMILFORDREALESTATEQUALIFICATIONFORM&data=04%7C01%7C%7C0b3449f7af174b1e243008d8d6f82286%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C637495708502501294%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=xV4f83K8LRedT3R1AQkaS8v3FeQ7f8eE3ipyKfxnQHE%3D&reserved=0" rel="nofollow">Milford Real Estate Qualification Form - CLICK HERE</a></strong></em></span></p>
<h3><span style="font-size: 12pt;"><em><strong> </strong></em></span></h3>
<p><span style="font-size: 12pt;"><em><strong> </strong></em></span></p>
<p><span style="font-size: 12pt;"><em><strong>Email: Milford@commercialmortgagecap.com</strong></em></span></p>
<p><span style="font-size: 12pt;"><em><strong>Telephone/Text: 541-515-0666</strong></em></span></p>
<p><span style="font-size: 12pt;"><em><strong>Websites: <a href="http://www.financingmyproperty.com/" target="_blank" rel="nofollow noopener">www.financingmyproperty.com</a></strong></em></span></p>
<p><span style="font-size: 12pt;"><em><strong> <a href="http://www.financingmyproperty.com" target="_blank" rel="noopener">www.financingmyproperty.com</a></strong></em></span></p>
<p><span style="font-size: 12pt;"><em><strong> <a href="http://www.thecommercialmortgagestore.com" target="_blank" rel="noopener">www.thecommercialmortgagestore.com</a></strong></em></span></p>
</div>
</div>If you’re (A) Plan for funding failed. Plan (B) Funding Options can help!tag:realestatefinance.ning.com,2024-03-15:6517464:BlogPost:4982612024-03-15T00:59:32.000ZPlan B Funding Options LLChttps://realestatefinance.ning.com/profile/PlanBFundingOptionsLLC
<p>We can help you obtain the business, personal, or real estate Funding You Need!</p>
<p> </p>
<p>Hello from Plan B Funding Options</p>
<p> </p>
<p>Real Estate projects of All types! Make up over 70% of our Daily Funding!</p>
<p> </p>
<p><a href="https://storage.ning.com/topology/rest/1.0/file/get/12051948889?profile=original" rel="noopener" target="_blank"><img class="align-center" src="https://storage.ning.com/topology/rest/1.0/file/get/12051948889?profile=RESIZE_710x"></img></a></p>
<p></p>
<p>Our long time funding partnerships with direct lenders who have their own billion dollar funds set aside to…</p>
<p>We can help you obtain the business, personal, or real estate Funding You Need!</p>
<p> </p>
<p>Hello from Plan B Funding Options</p>
<p> </p>
<p>Real Estate projects of All types! Make up over 70% of our Daily Funding!</p>
<p> </p>
<p><a href="https://storage.ning.com/topology/rest/1.0/file/get/12051948889?profile=original" target="_blank" rel="noopener"><img src="https://storage.ning.com/topology/rest/1.0/file/get/12051948889?profile=RESIZE_710x" class="align-center"/></a></p>
<p></p>
<p>Our long time funding partnerships with direct lenders who have their own billion dollar funds set aside to fund people in need of funding are not affected by the current inflation and interest rate problems that most banks are facing now. We also have partnerships with many private equity firms who are ready to fund your projects.</p>
<p> </p>
<p>If you need funding just send us an email at <a href="mailto:info@planbfundingoptions.com">info@planbfundingoptions.com</a></p>
<p>and explain your funding needs and then we will send you our required documents and instructions needed to move forward.</p>
<p> </p>
<p>Perhaps you know someone who needs funding. We Pay Referral Fees!!! See this link to the page on our website that explains what it means for you!</p>
<p><a href="https://www.planbfundingoptions.com/we-pay-referral-fees.html">https://www.planbfundingoptions.com/we-pay-referral-fees.html</a></p>
<p> </p>
<p> <a href="https://storage.ning.com/topology/rest/1.0/file/get/12358889481?profile=original" target="_blank" rel="noopener"><img src="https://storage.ning.com/topology/rest/1.0/file/get/12358889481?profile=RESIZE_710x" class="align-center"/></a></p>
<p>If you’re (A) Plan for funding failed. Plan (B) Funding Options can help!</p>
<p>*Nationwide and Worldwide Funding.</p>
<p>Website: <a href="http://www.PlanBfundingOptions.com">www.PlanBfundingOptions.com</a></p>
<p>Email: <a href="mailto:info@planbfundingoptions.com">info@planbfundingoptions.com</a></p>
<p>Call Us: 949-682-9235 (California Office) </p>
<p>Or Alt : 786-600-1674 Miami, Florida</p>$50,000.00 TO OVER $100 MILLION LOAN FUNDING PROGRAM WORLDWIDE WITH NO UPFRONT FEE OR HIDDEN COST AT 6.15% INTEREST ONLYtag:realestatefinance.ning.com,2024-03-13:6517464:BlogPost:4982582024-03-13T14:15:53.000ZJoohan Kimhttps://realestatefinance.ning.com/profile/JoohanKim28
<div><span>We currently have funds for Financing Real Estate, Project Funding, Bridge Loans, Construction Financing and Ordinary Loans for Company Export/Import Finance. </span></div>
<div><span>Here are the area of our funding: </span><br></br><span>* Bridging loans </span><br></br><span>* Business Loans </span><br></br><span>* Personal loan </span><br></br><span>* Investment loan </span><br></br><span>* Auto loan </span><br></br><span>* Construction loans </span><br></br><span>* Debt Consolidation </span><br></br><span>*…</span></div>
<div><span>We currently have funds for Financing Real Estate, Project Funding, Bridge Loans, Construction Financing and Ordinary Loans for Company Export/Import Finance. </span></div>
<div><span>Here are the area of our funding: </span><br/><span>* Bridging loans </span><br/><span>* Business Loans </span><br/><span>* Personal loan </span><br/><span>* Investment loan </span><br/><span>* Auto loan </span><br/><span>* Construction loans </span><br/><span>* Debt Consolidation </span><br/><span>* Credit line </span><br/><span>* Lend Lease </span><br/><span>* Second mortgage </span><br/><span>* Credit Redemption </span><br/><span>* Project Financing </span><br/><span>* Mortgage </span><br/><span>* Refinancing Loans </span><br/><span>* Real Estate Investment loans </span></div>
<div><br/><span>TERMS;</span><br/><span>Loan Term (Moratorium): 6 months - 30 years</span><br/><span>Loan Amount: $50,000.00 to over $100 Million</span><br/><span>Interest Rate: 6.15% Interest only</span><br/><span>Credit Score (FICO): 500+</span><br/><span>Debt Service Coverage Ratio (DSCR): 1.25 - 3.75</span><br/><span>Property Type: Occupied and Non-occupied</span><br/><span>Loan To Value (LTV): Up to 80%</span><br/><span>After Repair Value (ARV): Up to 75%</span><br/><span>Prepayment Penalty: NO</span><br/><span>CLTV: Up to 80%</span><br/><span>Broker/Consulting Mandate: 2.5 Points</span><br/><div><br/><span>Kindly provide us with your business plan or executive summary with the below contact details for processing of your loan/finance request. In the ever-shifting world of lending, Direct Funding Source (DFS) has earned a rare level of prestige for its steadfast ethics, top-notch customer service and unrivaled expertise. </span><br/><br/><span>Our commitment to the relentless pursuit of excellence in all aspects of lending has earned Direct Funding Source (DFS) an exceptional reputation among realtors and industry professionals. </span><br/><br/><span>E-mail: directfundingsource@outlook.com</span><br/><br/><span>Thanks for your business as we look forward to receiving your email via our email address provided above. </span></div>
</div>San Francisco Real Estate Heats Uptag:realestatefinance.ning.com,2024-03-12:6517464:BlogPost:4981722024-03-12T19:53:12.000ZKen and Ari Walkerhttps://realestatefinance.ning.com/profile/ForestTardibuono
<p><span style="font-size: 12pt;"><a href="https://storage.ning.com/topology/rest/1.0/file/get/12399720492?profile=original" rel="noopener" target="_blank"><img class="align-full" src="https://storage.ning.com/topology/rest/1.0/file/get/12399720492?profile=RESIZE_710x"></img></a></span></p>
<p><span style="font-size: 12pt;">Despite the cooler & wetter weather, San Francisco agents are noticing lots of people showing up to open houses. </span></p>
<p><span style="font-size: 12pt;">One agent observed, “The rainy days this year have brought more traffic than the sunny days of Q4 last…</span></p>
<p><span style="font-size: 12pt;"><a href="https://storage.ning.com/topology/rest/1.0/file/get/12399720492?profile=original" target="_blank" rel="noopener"><img src="https://storage.ning.com/topology/rest/1.0/file/get/12399720492?profile=RESIZE_710x" class="align-full"/></a></span></p>
<p><span style="font-size: 12pt;">Despite the cooler & wetter weather, San Francisco agents are noticing lots of people showing up to open houses. </span></p>
<p><span style="font-size: 12pt;">One agent observed, “The rainy days this year have brought more traffic than the sunny days of Q4 last year.” </span></p>
<p><span style="font-size: 12pt;">Not only open house attendance, but sales numbers are off to a strong start. Year over year, the number of accepted offers in January 2024 was up 30%. </span></p>
<p><span style="font-size: 12pt;">Agents are seeing signs of life emerging from the ashes of a sluggish 2023. Even properties that lingered on the market from the previous year are getting offers according to Coldwell agent, Janice Lee. </span></p>
<p><span style="font-size: 12pt;">In general, agents have more optimism and energy than was present last year. </span></p>
<p></p>
<p><span style="font-size: 12pt;"><b><i>Best, </i></b> </span></p>
<p><span style="font-size: 12pt;"><b><i>Ken & Ari Walker - Your Direct Private Money Source </i></b> </span></p>
<p><span style="font-size: 12pt;"> </span></p>
<p><span style="font-size: 12pt;"><i>Husband & Wife Team </i> </span></p>
<p><span style="font-size: 12pt;"><i>Phone: 707-708-0797 / Office: 1400 N. Dutton Ave #22 Santa Rosa, CA 95401</i> <br/><i>Ken: CA DRE Broker #01858042 / NMLS #1221130</i> <br/><i>Ari: CA DRE #01858152 / NMLS #2170867</i> </span></p>
<p><span style="font-size: 12pt;"> </span></p>
<p><span style="font-size: 12pt;"><b>Bio:</b> Ken & Ari are a husband & wife team with over 30 years of combined real estate and private money lending experience. They like working with buyers & borrowers, as well as directly with other licensed individuals who have clients in need of fast & alternative financing, and who can benefit from Private Money mortgages. (Qualify for our financing despite DTI ratios, credit score, property condition, difficult to prove income, etc. on purchases and refinances for owner occupied & investment properties.) </span></p>FINANCING FOR CONSTRUCTION AND REHAB AND RENOVATING FOR RESIDENTIAL AND COMMERCIAL PROPERTIES AND FOR CANNABIS PROJECTStag:realestatefinance.ning.com,2024-03-11:6517464:BlogPost:4982502024-03-11T12:38:25.000ZRichard Milfordhttps://realestatefinance.ning.com/profile/RichardMilford465
<p></p>
<p><span><em><strong>LAND LOANS 500,000 TO 25,000,000 HORIZONTAL LAND DEVELOPMENT FINANCING NATIONWIDE </strong></em></span></p>
<p><span><em><strong>COMMERCIAL REAL ESTATE MORTGAGES AND FIX AND FLIP FINANCING FOR RESIDENTIAL 1 TO 4 FAMILY PROPERTIES AND MIXED USE PROPERTIES NATIONWIDE </strong></em></span></p>
<p><span><em><strong>CONSTRUCTION AND BUILD OUT TO EXISTING PROJECTS </strong></em></span></p>
<p><span><em><strong>VACANT AND PARTIALLY OCCUPIED PROPERTIES CAN BE…</strong></em></span></p>
<p></p>
<p><span><em><strong>LAND LOANS 500,000 TO 25,000,000 HORIZONTAL LAND DEVELOPMENT FINANCING NATIONWIDE </strong></em></span></p>
<p><span><em><strong>COMMERCIAL REAL ESTATE MORTGAGES AND FIX AND FLIP FINANCING FOR RESIDENTIAL 1 TO 4 FAMILY PROPERTIES AND MIXED USE PROPERTIES NATIONWIDE </strong></em></span></p>
<p><span><em><strong>CONSTRUCTION AND BUILD OUT TO EXISTING PROJECTS </strong></em></span></p>
<p><span><em><strong>VACANT AND PARTIALLY OCCUPIED PROPERTIES CAN BE FINANCED WITH EXIT STRATEGY </strong></em></span></p>
<p></p>
<p><span><em><strong>MILFORD@COMMERCIALMORTGAGECAP.COM</strong></em></span></p>
<p></p>
<p><span><em><strong>Telephone/Text Number : 541-515-0666 </strong></em></span></p>
<p><span><em><strong>Websites: <a href="http://www.usfinance.biz/" target="_blank" rel="noopener">www.financemyproperty.com </a></strong></em></span></p>
<p><span><em><strong> <a href="http://www.commercialmortgagecap.com" target="_blank" rel="noopener">www.commercialmortgagecap.com</a> </strong></em></span></p>
<p><span><em><strong> </strong></em></span></p>
<p><span><em><strong><a href="https://www.cognitoforms.com/UnitedStatesFinance1/REALESTATEQUALIFICATIONFORM" target="_blank" rel="noopener">CLICK HERE TO SUBMIT YOUR SCENARIO</a></strong></em></span></p>
<p></p>
<p><span><em><strong>CANNABIS PROJECTS AND BUSINESS LOAN REQUESTS CAN BE CONSIDERED</strong></em></span></p>
<p><span><em><strong><font face="arial, sans-serif">Rental Portfolio Loans</font></strong></em></span></p>
<ul>
<li><span><em><strong><font face="arial, sans-serif">Long Term Financing for Stabilized Properties </font></strong></em></span></li>
<li><span><em><strong><font face="arial, sans-serif">5+ units; $500,000 to $25,000,000</font></strong></em></span></li>
<li><br/><ul>
<li><span><em><strong><font face="arial, sans-serif">Eligible property types: SFRs, 2-4 units, condos/townhomes, Multi-Family</font></strong></em></span><ul>
<li><span><em><strong><font face="arial, sans-serif">Up to 75% LTV</font></strong></em></span></li>
<li><span><em><strong><font face="arial, sans-serif">5, 7, or 10 year balloon, 30 year amortization</font></strong></em></span></li>
<li><span><em><strong><font face="arial, sans-serif">Prepay: Yield Maintenance or declining or hybrid version</font></strong></em></span></li>
<li><span><em><strong><font face="arial, sans-serif">Non-recourse & Recourse<span class="gmail-Apple-converted-space"> </span><br/></font></strong></em></span></li>
<li><span><em><strong><font face="arial, sans-serif">Minimum Values</font></strong></em></span><ul>
<li><span><em><strong><font face="arial, sans-serif">SFRs: 50K Per Door</font></strong></em></span></li>
<li><span><em><strong><font face="arial, sans-serif">Multi Units: 40K Per Unit</font></strong></em></span></li>
</ul>
</li>
<li><span><em><strong><font face="arial, sans-serif">To Receive a Quote</font></strong></em></span><ul>
<li><span><em><strong><font face="arial, sans-serif">Rent Roll & Operating Statement </font></strong></em></span></li>
</ul>
</li>
</ul>
</li>
</ul>
</li>
</ul>
<p></p>
<p></p>
<p><span><em><strong><font face="arial, sans-serif">Multifamily Renovation</font></strong></em></span></p>
<ul>
<li><span><em><strong><font face="arial, sans-serif">Multifamily Properties over 20 units that are being renovated and then rolled to long term financing </font></strong></em></span><ul>
<li><span><em><strong><font face="arial, sans-serif">Max LTC 75% </font></strong></em></span></li>
<li><span><em><strong><font face="arial, sans-serif">Max ARV 65%</font></strong></em></span></li>
<li><span><em><strong><font face="arial, sans-serif">To Receive a Quote<br/></font></strong></em></span><ul>
<li><span><em><strong><font face="arial, sans-serif">Rehab Budget</font></strong></em></span></li>
<li><span><em><strong><font face="arial, sans-serif">Financials (Net Worth, Liquidity, FICO)</font></strong></em></span></li>
<li><span><em><strong><font face="arial, sans-serif">PSA</font></strong></em></span></li>
<li><span><em><strong><font face="arial, sans-serif">Pro Forma</font></strong></em></span></li>
</ul>
</li>
</ul>
</li>
</ul>
<p></p>
<p><span><em><strong><font face="arial, sans-serif">Build to Rent </font></strong></em></span></p>
<ul>
<li><span><em><strong><font face="arial, sans-serif">SFR/Townhome construction product, begins with a construction loan and is taken to permanent financing.</font></strong></em></span><ul>
<li><span><em><strong><font face="arial, sans-serif">Max LTC 75% </font></strong></em></span></li>
<li><span><em><strong><font face="arial, sans-serif">Max ARV 65%</font></strong></em></span></li>
<li><span><em><strong><font face="arial, sans-serif">To Receive a Quote<br/></font></strong></em></span><ul>
<li><span><em><strong><font face="arial, sans-serif">Construction Budget</font></strong></em></span></li>
<li><span><em><strong><font face="arial, sans-serif">Financials (Net Worth, Liquidity, FICO)</font></strong></em></span></li>
<li><span><em><strong><font face="arial, sans-serif">PSA</font></strong></em></span></li>
<li><span><em><strong><font face="arial, sans-serif">Pro Forma</font></strong></em></span></li>
</ul>
</li>
</ul>
</li>
</ul>
<p></p>
<p><span><em><strong><font face="arial, sans-serif">Single Asset Bridge</font></strong></em></span></p>
<ul>
<li><span><em><strong><font face="arial, sans-serif">Short Term Financing for purchasing or refinancing 1 property.</font></strong></em></span><ul>
<li><ul>
<li><span><em><strong><font face="arial, sans-serif">Max LTC 85%</font></strong></em></span></li>
<li><span><em><strong><font face="arial, sans-serif">Max ARLTV 75%</font></strong></em></span></li>
<li><span><em><strong><font face="arial, sans-serif">To Get a Quote</font></strong></em></span><br/><ul>
<li><span><em><strong><font face="arial, sans-serif">Liquidity</font></strong></em></span></li>
<li><span><em><strong>exit strategy</strong></em></span></li>
<li><span><em><strong><font face="arial, sans-serif">Project Experience</font></strong></em></span></li>
<li><span><em><strong><font face="arial, sans-serif">Rehab budget</font></strong></em></span></li>
<li><span><em><strong><font face="arial, sans-serif">Purchase Price/date/Address</font></strong></em></span></li>
<li><p><span><em><strong><a href="http://www.commercialmortgagecap.com/" target="_blank" rel="noopener"></a>Email: Milford@commercialmortgagecap.com</strong></em></span></p>
</li>
<li><span><em><strong>TELEPHONE/TEXT NUMBER 541-515-0666</strong></em></span></li>
<li><span><em><strong>WEBSITES: <a href="http://www.usfinance.biz/" target="_blank" rel="noopener">www.financemyproperty.com</a></strong></em></span></li>
<li><span><em><strong> <a href="http://www.commercialmortgagecap.com" target="_blank" rel="noopener">www.commercialmortgageca[.com</a></strong></em></span></li>
</ul>
</li>
</ul>
</li>
</ul>
</li>
</ul>Los Angeles Commercial Multifamily Market Report as of March 10, 2024tag:realestatefinance.ning.com,2024-03-11:6517464:BlogPost:4984472024-03-11T02:23:58.000ZManuel Angeleshttps://realestatefinance.ning.com/profile/ManuelAngeles661
<div class="featured-image"><img alt="MM1.png" src="https://activerain-store.s3.amazonaws.com/blog_entries/656/5833656/original/MM1.png?1710120496"></img></div>
<div class="blog-content style-reset-for-user-content user-content"><div><p>Greetings,</p>
<p>This is Manuel Angeles with Exp Commercial.</p>
<p>Here is an update on the current <span><strong>Commercial Multifamily Real Estate Market in Los Angeles County</strong></span><strong><span> </span>as of<span> </span></strong><span><strong>March 10, 2024</strong></span>:</p>
<p>Los Angeles<span> </span><strong>apartment market conditions appear close to…</strong></p>
</div>
</div>
<div class="featured-image"><img alt="MM1.png" src="https://activerain-store.s3.amazonaws.com/blog_entries/656/5833656/original/MM1.png?1710120496"/></div>
<div class="blog-content style-reset-for-user-content user-content"><div><p>Greetings,</p>
<p>This is Manuel Angeles with Exp Commercial.</p>
<p>Here is an update on the current <span><strong>Commercial Multifamily Real Estate Market in Los Angeles County</strong></span><strong><span> </span>as of<span> </span></strong><span><strong>March 10, 2024</strong></span>:</p>
<p>Los Angeles<span> </span><strong>apartment market conditions appear close to turning a corner</strong>, shifting away from the supply/demand mismatch seen in 2022 and the first half of 2023. Renter demand during the past 12 months, 5,700 units, was below the 8,100 units absorbed annually, on average, during the past decade. Recent weak renter activity, particularly in the first half of 2023, was driven by economic uncertainty, the actors' and writers' strikes, and continued outmigration by residents. Demand was insufficient to absorb the 10,000 net new units completed, resulting in vacancy rising from 4.6% one year ago to 5.0%.</p>
<p>However,<span> </span><strong>renter activity has improved</strong><span> </span>since the second half of last year, with vacancy holding in a narrow range since June. Consumer sentiment has recently risen, inflation has tempered, and the strikes facing the entertainment sector have resolved. Higher-income renters seeking top-tier apartments have been the greatest drivers of activity. As a result of improved renter demand, asking rents, which realized losses in late 2023, reached a floor in December, with gains resuming year to date.</p>
<p>The construction pipeline comprises 23,000 units, representing 2.2% of existing inventory. The<span> </span><strong>impact of supply in the near term will disproportionately affect locations in Greater L.A.</strong><span> </span>with elevated construction activity. Around 45% of units underway are in five submarkets, accounting for around 25% of the metro's existing units. In contrast, other locations will face limited supply pressures. Thirteen of Greater L.A.'s 36 submarkets, which comprise a third of Los Angeles' apartments, have construction levels, as a percent of inventory, of 1% or less.</p>
<p>Based on conversations with local multifamily investment brokers,<span> </span><strong>the increase in debt costs and tighter lending standards have impacted recent transaction activity</strong>. Several investment sales brokers have reported that buyers in many transactions expect anywhere from a 10- 25% discount relative to early 2022 pricing, given that higher debt costs make it more difficult to achieve targeted investment returns. Many recently sold properties are seeing pricing below what would have been achieved in early 2022.</p>
<p>Since 23Q2, the market has faced another headwind,<span> </span><strong>an additional transfer tax imposed on property transactions above $5 million</strong><span> </span>that began April 1, 2023 in the City of Los Angeles (see sales section for more information). Market-rate multifamily units in the city account for over half of all market-rate units in Los Angeles County.</p>
<p>The 320 county-wide transactions in the fourth quarter of 2023 fell well below the 620 properties that traded quarterly, on average, during the past decade. Dollar volumes during the quarter, $1.3 billion, were some of the lower levels seen during a quarter since 2011.<span> </span><strong>The additional costs could suppress near-term transaction volume</strong><span> </span>and add downward pressure to asset values within the City of L.A.</p>
<p> </p>
<p>Here are several graphs illustrating the current multifamily market in Los Angeles County:</p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/MM2.png" width="700" height="502"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/MM3.png" width="700" height="263"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/MM4.png" width="700" height="350"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/MM5.png" width="700" height="363"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/MM6.png" width="700" height="365"/></p>
<p> </p>
<p>Full Los Angeles County Commercial Multifamily Market Report Here:<span> </span><a href="https://d2saw6je89goi1.cloudfront.net/uploads/digital_asset/file/1189864/Los_Angeles_-_CA_-USA-MultiFamily-Capital_Market-2024-03-10_a.pdf" target="_blank" rel="noopener">https://d2saw6je89goi1.cloudfront.net/uploads/digital_asset/file/1189864/Los_Angeles_-_CA_-USA-MultiFamily-Capital_Market-2024-03-10_a.pdf</a> </p>
<p>Access Exclusive Commercial Real Estate Market Reports in The United States Here: <a href="https://www.manuelangeles.com/" target="_blank" rel="noopener">https://www.manuelangeles.com/</a> </p>
<p>Contact me for a complimentary market analysis and valuation report for your commercial property, along with up-to-date commercial real estate listings (on-market and off-market):<a href="https://api.leadconnectorhq.com/widget/bookings/maexp" target="_blank" rel="noopener"> https://api.leadconnectorhq.com/widget/bookings/maexp </a> </p>
<p>Thank you.</p>
<p>--</p>
<p>Best Regards,</p>
<p>Manuel Angeles<br/>Broker Associate<br/>CalDRE #01985856<br/>Mobile: (323) 900-5258<br/>Email: <a href="mailto:manuel.angeles@expcommercial.com" target="_blank" rel="noopener">manuel.angeles@expcommercial.com</a><br/>Website: <a href="https://www.manuelangeles.com/" target="_blank" rel="noopener">www.manuelangeles.com</a><br/>Address: 155 N. Lake Avenue, 8th Floor, Pasadena 91101</p>
<p><img src="https://ci3.googleusercontent.com/meips/ADKq_NahLjJufrQmiMhwHiqGQrCKku3kK7j-ZE1KDBNjskUE6pvfivAs8ESRapTCBHzJRPQ0R25tRPM1pknqGth6md1r5AzGeauBDKl9AXPVMb5jK8d2fiXBn_fWHRW3fxFChiF1Gf9xLvPAotDo5aIj_jorkxcjfgWljWzY3pkjdBGXCdeZg4iiE1WppzC6A-tMt1wY685E7OBBWCIgiAUMqQlPTDvQ9p5eSfG9whx6i_s2Ymo51cnmCChBg9wk0KThwpCn5jI8Gv8pUkp4h3DbYhBaJIi5ft4GCvgDP5bzZrhiL6ZFNFxg3Och4M6Z0A0IYZug_Zf36kXiDixxCK9Yv7A=s0-d-e1-ft#%3Ca%20href="/>https://firebasestorage.googleapis.com/v0/b/highlevel-backend.appspot.com/o/location%2FjsbVi8ljfyPfXWknAuzt%2Fcampaign%2FMiYTa1DE8DwdQk6SGufK%2F4689ba79-7c6c-45f9-b312-2e9ac50986a5?alt=media&token=ad5a1206-744d-4d4f-80b9-d9453a5bafbd" width="95" height="101" data-bit="iit" /></p>
<p><br/>Exp Commercial of California, Inc.<br/>CalDRE #02134436 <br/>Office: (855) 451-1236, ext 300<br/>Website: <a href="https://www.expcommercial.com/" target="_blank" rel="noopener">www.expcommercial.com</a><br/>Address: 2603 Camino Ramon, Ste 200, San Ramon, CA 94583<br/> <br/>| Commercial Real Estate Brokerage: Multifamily, Retail, Office, Mixed-Use, Industrial, Hospitality, Self-Storage, Land |<br/><br/><img src="https://ci3.googleusercontent.com/meips/ADKq_NY0_hsRh3zONMFuLDfdVD75jwktAnNfO7pWFgz66qzZFc1BFCZlJKiNIU5Xw0rbhcviFKjkpjQvzb3MNSo6sr3PBfElGc05_stxlG--OYZrcDmdeXwSCB9qIiM0vjMYWUmmagI2cIid3XKV9O9YkzXnz-FNpmqzwoD7vdW8BGy_TPGLMApi7y5SG7ketzhMcQ2Nb0X_XeXtZFyGnALiEXfaSdwx776Kj3onKz4WHX2iDMlgg9m5bumMzn9d-E99C4-jhZCYkBdayZ9CEpi_fJeauc7SwMQOyqrrZdrhpK3UhjeYiJCYOHaiPsvP9EOf6Bt973JGPQRY-9XWyvDF2v4=s0-d-e1-ft#%3Ca%20href="/>https://firebasestorage.googleapis.com/v0/b/highlevel-backend.appspot.com/o/location%2FjsbVi8ljfyPfXWknAuzt%2Fcampaign%2FMiYTa1DE8DwdQk6SGufK%2Ff219fb1e-f675-4c16-9e54-d10a0df39586?alt=media&token=4b5ba198-14d4-41ca-9d5b-d0eac5be0724" width="117" height="61" data-bit="iit" /> <img src="https://ci3.googleusercontent.com/meips/ADKq_NaPmRRoRxXcnNeQJCyt3azCjp0yH-m5Z_TmMxNgfoWjx5F4rnDWoidoonCN8EG6JtT1BsLZ1Y07qTT5YoSCeVkDT9xeWj_Y_2W0Z0DjLU_SozzJ0uPj-QEtSuBVLVvDOkBlCSt_OwkvVF2lRNZHOU8o8-PyTEyHZCbgjSqNIdqczgkHuXn-pJvgBjS4P5nFMRhIyfxHKK4KLM7gPvvECO_Il4gfTrGRW2WK4VH8HjcoVmmTKzajws252JbQumEcg1Zb7eT2c5Nl2vpEM4a0zubxPkQTy8C6Tra1NNqODHxCFP0lyquTjblPnUdaAxH6UKhqaKKZiR38mS--0kRiJ20=s0-d-e1-ft#%3Ca%20href="/>https://firebasestorage.googleapis.com/v0/b/highlevel-backend.appspot.com/o/location%2FjsbVi8ljfyPfXWknAuzt%2Fcampaign%2FMiYTa1DE8DwdQk6SGufK%2Fbc43c720-7734-4623-a126-34bda4d38455?alt=media&token=286e9bad-7619-45d9-86bb-a1b1b4eb4fb9" width="253" height="63" data-bit="iit" /></p>
</div>
</div>Los Angeles Commercial Retail Market Report as of March 10, 2024tag:realestatefinance.ning.com,2024-03-11:6517464:BlogPost:4987322024-03-11T02:23:11.000ZManuel Angeleshttps://realestatefinance.ning.com/profile/ManuelAngeles661
<div class="featured-image"><img alt="RR1.png" src="https://activerain-store.s3.amazonaws.com/blog_entries/655/5833655/original/RR1.png?1710119316"></img></div>
<div class="blog-content style-reset-for-user-content user-content"><p>Greetings,</p>
<p>This is Manuel Angeles with Exp Commercial.</p>
<p>Here is an update on the current <span><strong>Commercial Retail Real Estate Market in Los Angeles County</strong></span><span> </span>as of<span> </span><span><strong>March 10, 2024</strong></span>:</p>
<p><strong>Transaction activity continues to moderate</strong><span> </span>as investors adjust to the effects…</p>
</div>
<div class="featured-image"><img alt="RR1.png" src="https://activerain-store.s3.amazonaws.com/blog_entries/655/5833655/original/RR1.png?1710119316"/></div>
<div class="blog-content style-reset-for-user-content user-content"><p>Greetings,</p>
<p>This is Manuel Angeles with Exp Commercial.</p>
<p>Here is an update on the current <span><strong>Commercial Retail Real Estate Market in Los Angeles County</strong></span><span> </span>as of<span> </span><span><strong>March 10, 2024</strong></span>:</p>
<p><strong>Transaction activity continues to moderate</strong><span> </span>as investors adjust to the effects of higher interest rates. Sales volume remains docile through 2024, after edging out just $3.3 billion in 2023. Much of last year's activity came in the first quarter when many buyers and sellers were looking to avoid the ULA transfer tax increase in the City of Los Angeles. Auto dealerships and owner/user sales account for a large proportion of trades in recent months, such as Brandon Steven Motors' acquisition of the Win Chevrolet dealership in Carson for $47 million in October.</p>
<p><strong>Price discovery is underway and a growing number of properties have traded for less than their acquisition prices</strong>, yet most have benefited from long-term appreciation. The properties selling for less than their acquisition prices are mostly involved in opportunistic or value-add investments below $5 million. At the same time, however, many sales under this amount continue to involve private investors in all-cash deals, and these investors are less sensitive to interest rates than those involved in larger sales.</p>
<p>Meanwhile,<span> </span><strong>single-tenant net-leased continue to trade at high prices</strong>. For example, the 12,500-SF Trader Joe's store in Agoura Hills sold for $13.6 million in December 2023 at a 4.19% cap rate, just less than 20 basis points above the average yield on a 10-year treasury during the same month. Trader Joe's recently signed a 10-year lease extension with two additional five-year options.</p>
<p><strong>Malls were highly sought after by investors in 2022, but recent sales have demonstrated valuation losses</strong>. As an example, Centennial Real Estate acquired the 1.2 million-SF Valencia Town Center in September 2023 from Unibail-Rodamco-Westfield for $199 million, or $172/SF, including the debt assumption of $195 million. The seller had stopped making loan payments earlier in the year.</p>
<p>The market price, which represents the<span> </span><strong>average estimated price of all retail space in the market</strong>,<span> </span><strong>has been flat over the past 12 months</strong><span> </span>but has grown by an average annual rate of 3.2% over the past five years. Over the same period, price appreciation has been strongest in submarkets across the San Fernando Valley, Antelope Valley, and Inglewood/South LA. These submarkets have had the strongest demand for space due to their outsized concentration of neighborhood centers. In contrast, some of the most expensive submarkets, such as Beverly Hills, Century City, and Hollywood, have experienced lower price appreciation. Demand for space has been softer here due to the slow recovery in tourism and a lower daytime working population.</p>
<p><strong>Upward pressure on cap rates is expected to remain</strong><span> </span>through the end of the year, as last year's rise in interest rates has had an extended impact on the market. However, vacancies in the market have likely peaked, and rent growth should remain positive, helping drive higher net operating income.</p>
<p> </p>
<p>Here are several graphs illustrating the current retail market in Los Angeles County:</p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/RR2.png" width="700" height="578"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/RR3a.png" width="700" height="267"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/RR4.png" width="700" height="358"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/RR5.png" width="700" height="360"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/RR6.png" width="700" height="360"/></p>
<p><br/>Full Los Angeles County Commercial Retail Market Report Here:<span> </span><a href="https://d2saw6je89goi1.cloudfront.net/uploads/digital_asset/file/1189863/Los_Angeles_-_CA_-USA-Retail-Capital_Market-2024-03-10_a.pdf" target="_blank" rel="noopener">https://d2saw6je89goi1.cloudfront.net/uploads/digital_asset/file/1189863/Los_Angeles_-_CA_-USA-Retail-Capital_Market-2024-03-10_a.pdf</a> </p>
<p>Access Exclusive Commercial Real Estate Market Reports in The United States Here: <a href="https://www.manuelangeles.com/" target="_blank" rel="noopener">https://www.manuelangeles.com/</a> </p>
<p>Contact me for a complimentary market analysis and valuation report for your commercial property, along with up-to-date commercial real estate listings (on-market and off-market):<a href="https://api.leadconnectorhq.com/widget/bookings/maexp" target="_blank" rel="noopener"> https://api.leadconnectorhq.com/widget/bookings/maexp </a> </p>
<p>Thank you.</p>
<p>--</p>
<p>Best Regards,</p>
<p>Manuel Angeles<br/>Broker Associate<br/>CalDRE #01985856<br/>Mobile: (323) 900-5258<br/>Email: <a href="mailto:manuel.angeles@expcommercial.com" target="_blank" rel="noopener">manuel.angeles@expcommercial.com</a><br/>Website: <a href="https://www.manuelangeles.com/" target="_blank" rel="noopener">www.manuelangeles.com</a><br/>Address: 155 N. Lake Avenue, 8th Floor, Pasadena 91101</p>
<p><img src="https://ci3.googleusercontent.com/meips/ADKq_NahLjJufrQmiMhwHiqGQrCKku3kK7j-ZE1KDBNjskUE6pvfivAs8ESRapTCBHzJRPQ0R25tRPM1pknqGth6md1r5AzGeauBDKl9AXPVMb5jK8d2fiXBn_fWHRW3fxFChiF1Gf9xLvPAotDo5aIj_jorkxcjfgWljWzY3pkjdBGXCdeZg4iiE1WppzC6A-tMt1wY685E7OBBWCIgiAUMqQlPTDvQ9p5eSfG9whx6i_s2Ymo51cnmCChBg9wk0KThwpCn5jI8Gv8pUkp4h3DbYhBaJIi5ft4GCvgDP5bzZrhiL6ZFNFxg3Och4M6Z0A0IYZug_Zf36kXiDixxCK9Yv7A=s0-d-e1-ft#%3Ca%20href="/>https://firebasestorage.googleapis.com/v0/b/highlevel-backend.appspot.com/o/location%2FjsbVi8ljfyPfXWknAuzt%2Fcampaign%2FMiYTa1DE8DwdQk6SGufK%2F4689ba79-7c6c-45f9-b312-2e9ac50986a5?alt=media&token=ad5a1206-744d-4d4f-80b9-d9453a5bafbd" width="95" height="101" data-bit="iit" /></p>
<p><br/>Exp Commercial of California, Inc.<br/>CalDRE #02134436 <br/>Office: (855) 451-1236, ext 300<br/>Website: <a href="https://www.expcommercial.com/" target="_blank" rel="noopener">www.expcommercial.com</a><br/>Address: 2603 Camino Ramon, Ste 200, San Ramon, CA 94583<br/> <br/>| Commercial Real Estate Brokerage: Multifamily, Retail, Office, Mixed-Use, Industrial, Hospitality, Self-Storage, Land |<br/><br/><img src="https://ci3.googleusercontent.com/meips/ADKq_NY0_hsRh3zONMFuLDfdVD75jwktAnNfO7pWFgz66qzZFc1BFCZlJKiNIU5Xw0rbhcviFKjkpjQvzb3MNSo6sr3PBfElGc05_stxlG--OYZrcDmdeXwSCB9qIiM0vjMYWUmmagI2cIid3XKV9O9YkzXnz-FNpmqzwoD7vdW8BGy_TPGLMApi7y5SG7ketzhMcQ2Nb0X_XeXtZFyGnALiEXfaSdwx776Kj3onKz4WHX2iDMlgg9m5bumMzn9d-E99C4-jhZCYkBdayZ9CEpi_fJeauc7SwMQOyqrrZdrhpK3UhjeYiJCYOHaiPsvP9EOf6Bt973JGPQRY-9XWyvDF2v4=s0-d-e1-ft#%3Ca%20href="/>https://firebasestorage.googleapis.com/v0/b/highlevel-backend.appspot.com/o/location%2FjsbVi8ljfyPfXWknAuzt%2Fcampaign%2FMiYTa1DE8DwdQk6SGufK%2Ff219fb1e-f675-4c16-9e54-d10a0df39586?alt=media&token=4b5ba198-14d4-41ca-9d5b-d0eac5be0724" width="117" height="61" data-bit="iit" /> <img src="https://ci3.googleusercontent.com/meips/ADKq_NaPmRRoRxXcnNeQJCyt3azCjp0yH-m5Z_TmMxNgfoWjx5F4rnDWoidoonCN8EG6JtT1BsLZ1Y07qTT5YoSCeVkDT9xeWj_Y_2W0Z0DjLU_SozzJ0uPj-QEtSuBVLVvDOkBlCSt_OwkvVF2lRNZHOU8o8-PyTEyHZCbgjSqNIdqczgkHuXn-pJvgBjS4P5nFMRhIyfxHKK4KLM7gPvvECO_Il4gfTrGRW2WK4VH8HjcoVmmTKzajws252JbQumEcg1Zb7eT2c5Nl2vpEM4a0zubxPkQTy8C6Tra1NNqODHxCFP0lyquTjblPnUdaAxH6UKhqaKKZiR38mS--0kRiJ20=s0-d-e1-ft#%3Ca%20href="/>https://firebasestorage.googleapis.com/v0/b/highlevel-backend.appspot.com/o/location%2FjsbVi8ljfyPfXWknAuzt%2Fcampaign%2FMiYTa1DE8DwdQk6SGufK%2Fbc43c720-7734-4623-a126-34bda4d38455?alt=media&token=286e9bad-7619-45d9-86bb-a1b1b4eb4fb9" width="253" height="63" data-bit="iit" /></p>
</div>Los Angeles Commercial Office Market Report as of March 10, 2024tag:realestatefinance.ning.com,2024-03-11:6517464:BlogPost:4986412024-03-11T02:22:34.000ZManuel Angeleshttps://realestatefinance.ning.com/profile/ManuelAngeles661
<div class="featured-image"><img alt="OO1.png" src="https://activerain-store.s3.amazonaws.com/blog_entries/654/5833654/original/OO1.png?1710118740"></img></div>
<div class="blog-content style-reset-for-user-content user-content"><div><p>Greetings,</p>
<p>This is Manuel Angeles with Exp Commercial.</p>
<p>Here is an update on the current <span><strong>Commercial Office Real Estate Market in Los Angeles County</strong></span><span> </span>as of<span> </span><span><strong>March 10, 2024</strong></span>:</p>
<p>The<span> </span><strong>fourth quarter witnessed $1.5 billion worth of office sales</strong>, not far…</p>
</div>
</div>
<div class="featured-image"><img alt="OO1.png" src="https://activerain-store.s3.amazonaws.com/blog_entries/654/5833654/original/OO1.png?1710118740"/></div>
<div class="blog-content style-reset-for-user-content user-content"><div><p>Greetings,</p>
<p>This is Manuel Angeles with Exp Commercial.</p>
<p>Here is an update on the current <span><strong>Commercial Office Real Estate Market in Los Angeles County</strong></span><span> </span>as of<span> </span><span><strong>March 10, 2024</strong></span>:</p>
<p>The<span> </span><strong>fourth quarter witnessed $1.5 billion worth of office sales</strong>, not far off the $1.7 billion worth of transactions quarterly, on average, during the past decade. However, 2023 in total saw $3.8 billion in sales, around 40% of dollar activity in 2016-19.</p>
<p><strong>Market weakness and questions around the future trajectory for space use</strong><span> </span>have dented investor demand. For interested buyers, banks have shown hesitancy in providing loans, further hamstringing activity. Given these factors, several recent sales involving less-than-best office properties saw discounts of 35-60% relative to what likely would have been achieved before early 2020.</p>
<p>In December, a private family office purchased 400 and 450 Brand Blvd. from Kennedy Wilson for $58 million ($130/SF). The two buildings comprise 440,800 SF, with 364,000 SF of office space and 76,800 SF of retail space. The properties were 61% leased and marketed as a value-add opportunity. Tenants had a weighted average remaining lease term of 5.5 years. No loan was recorded with the sale, making it likely that the buyer paid cash.</p>
<p>The transaction represents a 60% loss for Kennedy Wilson, having acquired the buildings in May 2017 for $144 million ($325/SF). It also sold well below its previous sale price in January 2004 for $117 million ($265/SF).</p>
<p>The<span> </span><strong>most prominent news of distress centers on Downtown Los Angeles</strong>. In 2023, Brookfield Properties, downtown's largest landlord, defaulted on 777 Tower, Ernst & Young Plaza, and Gas Company Tower. Ernst & Young Plaza went into receivership in May, and Gas Company Tower went into receivership in April. 777 Tower is on the market.</p>
<p>In July 2023, Gas Company Tower was appraised at $270 million, around 40% of its last valuation of $632 million in 2021. The value is also well below Brookfield's $465 million in loans on the property. In December, Ernst & Young Plaza was appraised at $210.7 Million, less than half its valuation of $446 million three years ago.<span> </span><strong>As loans come due on other office properties, more landlords will likely default</strong>.</p>
<p><strong>Most future sales will likely see a discount in pricing</strong><span> </span>to what was possible before early 2020. However, a handful of recent sales show that some buyers are willing to pay elevated pricing for select properties.</p>
<p>FanDuel, a popular gambling platform, acquired 9000 Wilshire Blvd. from Skanska for $71 million ($1,410/SF) in December. Completed in 23Q2, the 50,300-SF building is the newest in Beverly Hills, driving the pricing achieved. Another likely factor that led to strong pricing was that FanDuel purchased to occupy.<span> </span><strong>Owner/user sales have been one segment of the local office market that has seen pricing hold up better</strong><span> </span>relative to transactions involving multi-tenant assets.</p>
<p><strong>Average market pricing is forecast to see a peak-to-trough decline of around 25% by 2025</strong>. The market faces numerous headwinds. Vacancy is expected to rise further during the next several years, which should soften asking rents. Uncertainty around the long-term trajectory for tenant demand due to the increased use of hybrid work strategies persists. Additionally, as interest rates are anticipated to stay elevated in the near term, debt, even when available, will remain more costly.</p>
<p> </p>
<p>Here are several graphs illustrating the current office market in Los Angeles County:</p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/OO2.png" width="700" height="502"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/OO3.png" width="700" height="261"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/OO4.png" width="700" height="356"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/OO5.png" width="700" height="355"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/OO6.png" width="700" height="408"/></p>
<p><br/>Full Los Angeles County Commercial Office Market Report Here:<span> </span><a href="https://d2saw6je89goi1.cloudfront.net/uploads/digital_asset/file/1189862/Los_Angeles_-_CA_-USA-Office-Capital_Market-2024-03-10_a.pdf" target="_blank" rel="noopener">https://d2saw6je89goi1.cloudfront.net/uploads/digital_asset/file/1189862/Los_Angeles_-_CA_-USA-Office-Capital_Market-2024-03-10_a.pdf</a> </p>
<p>Access Exclusive Commercial Real Estate Market Reports in The United States Here: <a href="https://www.manuelangeles.com/" target="_blank" rel="noopener">https://www.manuelangeles.com/</a> </p>
<p>Contact me for a complimentary market analysis and valuation report for your commercial property, along with up-to-date commercial real estate listings (on-market and off-market):<a href="https://api.leadconnectorhq.com/widget/bookings/maexp" target="_blank" rel="noopener"> https://api.leadconnectorhq.com/widget/bookings/maexp </a> </p>
<p>Thank you.</p>
<p>--</p>
<p>Best Regards,</p>
<p>Manuel Angeles<br/>Broker Associate<br/>CalDRE #01985856<br/>Mobile: (323) 900-5258<br/>Email: <a href="mailto:manuel.angeles@expcommercial.com" target="_blank" rel="noopener">manuel.angeles@expcommercial.com</a><br/>Website: <a href="https://www.manuelangeles.com/" target="_blank" rel="noopener">www.manuelangeles.com</a><br/>Address: 155 N. Lake Avenue, 8th Floor, Pasadena 91101</p>
<p><img src="https://ci3.googleusercontent.com/meips/ADKq_NahLjJufrQmiMhwHiqGQrCKku3kK7j-ZE1KDBNjskUE6pvfivAs8ESRapTCBHzJRPQ0R25tRPM1pknqGth6md1r5AzGeauBDKl9AXPVMb5jK8d2fiXBn_fWHRW3fxFChiF1Gf9xLvPAotDo5aIj_jorkxcjfgWljWzY3pkjdBGXCdeZg4iiE1WppzC6A-tMt1wY685E7OBBWCIgiAUMqQlPTDvQ9p5eSfG9whx6i_s2Ymo51cnmCChBg9wk0KThwpCn5jI8Gv8pUkp4h3DbYhBaJIi5ft4GCvgDP5bzZrhiL6ZFNFxg3Och4M6Z0A0IYZug_Zf36kXiDixxCK9Yv7A=s0-d-e1-ft#%3Ca%20href="/>https://firebasestorage.googleapis.com/v0/b/highlevel-backend.appspot.com/o/location%2FjsbVi8ljfyPfXWknAuzt%2Fcampaign%2FMiYTa1DE8DwdQk6SGufK%2F4689ba79-7c6c-45f9-b312-2e9ac50986a5?alt=media&token=ad5a1206-744d-4d4f-80b9-d9453a5bafbd" width="95" height="101" data-bit="iit" /></p>
<p><br/>Exp Commercial of California, Inc.<br/>CalDRE #02134436 <br/>Office: (855) 451-1236, ext 300<br/>Website: <a href="https://www.expcommercial.com/" target="_blank" rel="noopener">www.expcommercial.com</a><br/>Address: 2603 Camino Ramon, Ste 200, San Ramon, CA 94583<br/> <br/>| Commercial Real Estate Brokerage: Multifamily, Retail, Office, Mixed-Use, Industrial, Hospitality, Self-Storage, Land |<br/><br/><img src="https://ci3.googleusercontent.com/meips/ADKq_NY0_hsRh3zONMFuLDfdVD75jwktAnNfO7pWFgz66qzZFc1BFCZlJKiNIU5Xw0rbhcviFKjkpjQvzb3MNSo6sr3PBfElGc05_stxlG--OYZrcDmdeXwSCB9qIiM0vjMYWUmmagI2cIid3XKV9O9YkzXnz-FNpmqzwoD7vdW8BGy_TPGLMApi7y5SG7ketzhMcQ2Nb0X_XeXtZFyGnALiEXfaSdwx776Kj3onKz4WHX2iDMlgg9m5bumMzn9d-E99C4-jhZCYkBdayZ9CEpi_fJeauc7SwMQOyqrrZdrhpK3UhjeYiJCYOHaiPsvP9EOf6Bt973JGPQRY-9XWyvDF2v4=s0-d-e1-ft#%3Ca%20href="/>https://firebasestorage.googleapis.com/v0/b/highlevel-backend.appspot.com/o/location%2FjsbVi8ljfyPfXWknAuzt%2Fcampaign%2FMiYTa1DE8DwdQk6SGufK%2Ff219fb1e-f675-4c16-9e54-d10a0df39586?alt=media&token=4b5ba198-14d4-41ca-9d5b-d0eac5be0724" width="117" height="61" data-bit="iit" /> <img src="https://ci3.googleusercontent.com/meips/ADKq_NaPmRRoRxXcnNeQJCyt3azCjp0yH-m5Z_TmMxNgfoWjx5F4rnDWoidoonCN8EG6JtT1BsLZ1Y07qTT5YoSCeVkDT9xeWj_Y_2W0Z0DjLU_SozzJ0uPj-QEtSuBVLVvDOkBlCSt_OwkvVF2lRNZHOU8o8-PyTEyHZCbgjSqNIdqczgkHuXn-pJvgBjS4P5nFMRhIyfxHKK4KLM7gPvvECO_Il4gfTrGRW2WK4VH8HjcoVmmTKzajws252JbQumEcg1Zb7eT2c5Nl2vpEM4a0zubxPkQTy8C6Tra1NNqODHxCFP0lyquTjblPnUdaAxH6UKhqaKKZiR38mS--0kRiJ20=s0-d-e1-ft#%3Ca%20href="/>https://firebasestorage.googleapis.com/v0/b/highlevel-backend.appspot.com/o/location%2FjsbVi8ljfyPfXWknAuzt%2Fcampaign%2FMiYTa1DE8DwdQk6SGufK%2Fbc43c720-7734-4623-a126-34bda4d38455?alt=media&token=286e9bad-7619-45d9-86bb-a1b1b4eb4fb9" width="253" height="63" data-bit="iit" /></p>
</div>
</div>Los Angeles Commercial Industrial Market Report as of March 10, 2024tag:realestatefinance.ning.com,2024-03-11:6517464:BlogPost:4984412024-03-11T02:21:51.000ZManuel Angeleshttps://realestatefinance.ning.com/profile/ManuelAngeles661
<div><p>Greetings,</p>
<p>This is Manuel Angeles with Exp Commercial.</p>
<p>Here is an update on the current<span> </span><span><strong>Commercial Industrial Real Estate Market in Los Angeles County</strong></span><span> </span>as of<span> </span><span><strong>March 10, 2024</strong></span>:</p>
<p>Los Angeles<span> </span><strong>industrial is an attractive asset type for institutional investors and public REITs</strong><span> </span>because private owners, many of whom are entering…</p>
</div>
<div><p>Greetings,</p>
<p>This is Manuel Angeles with Exp Commercial.</p>
<p>Here is an update on the current<span> </span><span><strong>Commercial Industrial Real Estate Market in Los Angeles County</strong></span><span> </span>as of<span> </span><span><strong>March 10, 2024</strong></span>:</p>
<p>Los Angeles<span> </span><strong>industrial is an attractive asset type for institutional investors and public REITs</strong><span> </span>because private owners, many of whom are entering retirement years, have been divesting well-located assets for more than a decade. However, the impact from higher interest rates, weaker market fundamentals, and ULA transfer tax led to a 40% decline in sales volume in 2023, and investors remain cautious in 2024.</p>
<p>Some of the<span> </span><strong>few large sales that closed in recent months with assets valued over $50 million</strong><span> </span>have comprised properties with a combination of ample remaining lease-term at an attractive cap rate and future redevelopment opportunities. For example, Rexford Industrial REIT acquired a 1 million-SF brewery in Irwindale from Pabst Brewing Company for $120 million ($120/SF) in October 2023. The tenant is committed to the property for eight years with long-term extension options; however, Rexford was attracted to the potential of future redevelopment into modern logistics. As part of the deal, Rexford also loaned $125 million to the seller to develop an adjacent 150-acre land site into industrial properties. Rexford reported a 6.8% cap rate for both the sale of the property and the loan.</p>
<p>In a similar deal, Dart Warehouse acquired 99 Cents Only Stores' 900,000-SF distribution building and headquarters for $190 million ($210/SF) in August 2023. The facility is aged but has an attractive location in Commerce, adjacent to the intermodal railyard, and near downtown L.A. The sale included a leaseback agreement for an undisclosed short term.</p>
<p>Shifting market conditions has led to an extended period of price discovery. The market price averaged approximately 12% annual growth from 2012 to 2022, but recent trades show softer conditions.<span> </span><strong>The shift in pricing is mainly visible in the delta between asking prices and sale prices</strong>. For example, Greater Los Angeles County Vector Control District acquired a 38,000-SF warehouse in Pacoima in December 2023 for $13 million that had an asking price of $14.5 million. The AIDS Healthcare Foundation acquired a 54,000-SF warehouse in Gardena for $20 million in October 2023 that had an asking price of $22.1 million.</p>
<p>The<span> </span><strong>premium for new construction is high due to its scarcity in the market</strong>. As an example, BeBella, an owner/user, recently acquired a 92,800-SF warehouse in Santa Fe Springs from Panattoni Development for $53.6 million ($578/SF) in September 2023. The market price for logistics properties in the Santa Fe Springs/La Mirada Submarket at the time of sale was $314/SF.</p>
<p><strong>Cap rates have been rising in tandem to interest rates</strong>. However, some properties trade at lower-than-expected cap rates because of their mark-to-market opportunity. For example, Rexford Industrial REIT acquired a 608,000-SF distribution center in Santa Fe Springs for $210 million ($345/SF) in July 2023. Fully leased with GXO Logistics as the primary tenant, the property traded at a 5% cap rate. In early 2022, properties like these were trading at cap rates in the 3.5% to 4% range. While some of the cap rate expansion is captured in the deal, Rexford expects the annual return to yield 6.2% upon releasing at market rates.</p>
<p><strong>Transaction activity may remain stifled in 2024</strong>, as interest rates have remained elevated, and there is growing uncertainty around the implementation of the ULA transfer tax. Rent growth has also started to slow, and if that continues, there will be fewer potential mark-to-market opportunities.</p>
<p> </p>
<p>Here are several graphs illustrating the current industrial market in Los Angeles County:</p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/II2.png" width="700" height="502"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/II3.png" width="700" height="264"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/II4.png" width="700" height="355"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/II5.png" width="700" height="351"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/II6.png" width="700" height="365"/></p>
<p><br/>Full Los Angeles County Commercial Industrial Market Report Here:<span> </span><a href="https://d2saw6je89goi1.cloudfront.net/uploads/digital_asset/file/1189861/Los_Angeles_-_CA_-USA-Industrial-Capital_Market-2024-03-10_a.pdf" target="_blank" rel="noopener">https://d2saw6je89goi1.cloudfront.net/uploads/digital_asset/file/1189861/Los_Angeles_-_CA_-USA-Industrial-Capital_Market-2024-03-10_a.pdf</a> </p>
<p>Access Exclusive Commercial Real Estate Market Reports in The United States Here: <a href="https://www.manuelangeles.com/" target="_blank" rel="noopener">https://www.manuelangeles.com/</a> </p>
<p>Contact me for a complimentary market analysis and valuation report for your commercial property, along with up-to-date commercial real estate listings (on-market and off-market):<a href="https://api.leadconnectorhq.com/widget/bookings/maexp" target="_blank" rel="noopener"> https://api.leadconnectorhq.com/widget/bookings/maexp </a> </p>
<p>Thank you.</p>
<p>--</p>
<p>Best Regards,</p>
<p>Manuel Angeles<br/>Broker Associate<br/>CalDRE #01985856<br/>Mobile: (323) 900-5258<br/>Email: <a href="mailto:manuel.angeles@expcommercial.com" target="_blank" rel="noopener">manuel.angeles@expcommercial.com</a><br/>Website: <a href="https://www.manuelangeles.com/" target="_blank" rel="noopener">www.manuelangeles.com</a><br/>Address: 155 N. Lake Avenue, 8th Floor, Pasadena 91101</p>
<p><img src="https://ci3.googleusercontent.com/meips/ADKq_NahLjJufrQmiMhwHiqGQrCKku3kK7j-ZE1KDBNjskUE6pvfivAs8ESRapTCBHzJRPQ0R25tRPM1pknqGth6md1r5AzGeauBDKl9AXPVMb5jK8d2fiXBn_fWHRW3fxFChiF1Gf9xLvPAotDo5aIj_jorkxcjfgWljWzY3pkjdBGXCdeZg4iiE1WppzC6A-tMt1wY685E7OBBWCIgiAUMqQlPTDvQ9p5eSfG9whx6i_s2Ymo51cnmCChBg9wk0KThwpCn5jI8Gv8pUkp4h3DbYhBaJIi5ft4GCvgDP5bzZrhiL6ZFNFxg3Och4M6Z0A0IYZug_Zf36kXiDixxCK9Yv7A=s0-d-e1-ft#%3Ca%20href="/>https://firebasestorage.googleapis.com/v0/b/highlevel-backend.appspot.com/o/location%2FjsbVi8ljfyPfXWknAuzt%2Fcampaign%2FMiYTa1DE8DwdQk6SGufK%2F4689ba79-7c6c-45f9-b312-2e9ac50986a5?alt=media&token=ad5a1206-744d-4d4f-80b9-d9453a5bafbd" width="95" height="101" data-bit="iit" /></p>
<p>Exp Commercial of California, Inc.<br/>CalDRE #02134436 <br/>Office: (855) 451-1236, ext 300<br/>Website: <a href="https://www.expcommercial.com/" target="_blank" rel="noopener">www.expcommercial.com</a><br/>Address: 2603 Camino Ramon, Ste 200, San Ramon, CA 94583<br/> <br/>| Commercial Real Estate Brokerage: Multifamily, Retail, Office, Mixed-Use, Industrial, Hospitality, Self-Storage, Land |<br/><br/><img src="https://ci3.googleusercontent.com/meips/ADKq_NY0_hsRh3zONMFuLDfdVD75jwktAnNfO7pWFgz66qzZFc1BFCZlJKiNIU5Xw0rbhcviFKjkpjQvzb3MNSo6sr3PBfElGc05_stxlG--OYZrcDmdeXwSCB9qIiM0vjMYWUmmagI2cIid3XKV9O9YkzXnz-FNpmqzwoD7vdW8BGy_TPGLMApi7y5SG7ketzhMcQ2Nb0X_XeXtZFyGnALiEXfaSdwx776Kj3onKz4WHX2iDMlgg9m5bumMzn9d-E99C4-jhZCYkBdayZ9CEpi_fJeauc7SwMQOyqrrZdrhpK3UhjeYiJCYOHaiPsvP9EOf6Bt973JGPQRY-9XWyvDF2v4=s0-d-e1-ft#%3Ca%20href="/>https://firebasestorage.googleapis.com/v0/b/highlevel-backend.appspot.com/o/location%2FjsbVi8ljfyPfXWknAuzt%2Fcampaign%2FMiYTa1DE8DwdQk6SGufK%2Ff219fb1e-f675-4c16-9e54-d10a0df39586?alt=media&token=4b5ba198-14d4-41ca-9d5b-d0eac5be0724" width="117" height="61" data-bit="iit" /> <img src="https://ci3.googleusercontent.com/meips/ADKq_NaPmRRoRxXcnNeQJCyt3azCjp0yH-m5Z_TmMxNgfoWjx5F4rnDWoidoonCN8EG6JtT1BsLZ1Y07qTT5YoSCeVkDT9xeWj_Y_2W0Z0DjLU_SozzJ0uPj-QEtSuBVLVvDOkBlCSt_OwkvVF2lRNZHOU8o8-PyTEyHZCbgjSqNIdqczgkHuXn-pJvgBjS4P5nFMRhIyfxHKK4KLM7gPvvECO_Il4gfTrGRW2WK4VH8HjcoVmmTKzajws252JbQumEcg1Zb7eT2c5Nl2vpEM4a0zubxPkQTy8C6Tra1NNqODHxCFP0lyquTjblPnUdaAxH6UKhqaKKZiR38mS--0kRiJ20=s0-d-e1-ft#%3Ca%20href="/>https://firebasestorage.googleapis.com/v0/b/highlevel-backend.appspot.com/o/location%2FjsbVi8ljfyPfXWknAuzt%2Fcampaign%2FMiYTa1DE8DwdQk6SGufK%2Fbc43c720-7734-4623-a126-34bda4d38455?alt=media&token=286e9bad-7619-45d9-86bb-a1b1b4eb4fb9" width="253" height="63" data-bit="iit" /></p>
</div>Los Angeles Commercial Hospitality Market Report as of March 10, 2024tag:realestatefinance.ning.com,2024-03-11:6517464:BlogPost:4985302024-03-11T02:20:35.000ZManuel Angeleshttps://realestatefinance.ning.com/profile/ManuelAngeles661
<div class="featured-image"><img alt="HH1.png" src="https://activerain-store.s3.amazonaws.com/blog_entries/651/5833651/original/HH1.png?1710117569"></img></div>
<div class="blog-content style-reset-for-user-content user-content"><div><p>Greetings,</p>
<p>This is Manuel Angeles with Exp Commercial.</p>
<p>Here is an update on the current <span><strong>Commercial Hospitality Real Estate Market in Los Angeles County</strong></span><span> </span>as of<span> </span><span><strong>March 10, 2024</strong></span>:</p>
<p>In the past 12 months,<span> </span><strong>hotel sales volume significantly declined to…</strong></p>
</div>
</div>
<div class="featured-image"><img alt="HH1.png" src="https://activerain-store.s3.amazonaws.com/blog_entries/651/5833651/original/HH1.png?1710117569"/></div>
<div class="blog-content style-reset-for-user-content user-content"><div><p>Greetings,</p>
<p>This is Manuel Angeles with Exp Commercial.</p>
<p>Here is an update on the current <span><strong>Commercial Hospitality Real Estate Market in Los Angeles County</strong></span><span> </span>as of<span> </span><span><strong>March 10, 2024</strong></span>:</p>
<p>In the past 12 months,<span> </span><strong>hotel sales volume significantly declined to approximately $263 million in the Los Angeles market</strong>. Apart from 2020, the annual hotel investment volume has exceeded $1 billion each year since 2014. Only three transactions were above $20 million in the past 12 months.</p>
<p>In April 2023, a<span> </span><strong>new transfer tax on residential and commercial real property</strong><span> </span>went into effect, potentially impacting hotel values. Since the transfer tax took effect, only four hotels have traded in the city of Los Angeles. Three are slated for conversion and were exempt from the "Mansion Tax", and the other sold for less than $3 million. The "Mansion Tax," officially the "Homelessness and Housing Solutions Tax," means that if a sale amount exceeds $10 million, it will be subject to an additional tax rate of 5.5%.</p>
<p>The<span> </span><strong>new tax law, higher interest rates, increased housekeeping wages, and the largest union strike in history</strong><span> </span>in SoCal have impacted investment activity in the market. Additionally, investors and developers could have been hesitant to move forward on hotel investment in the city of Los Angeles due to the "Responsible Hotel Ordinance" being on the March 2024 ballot, which would have required hotels to allow the city's homeless agencies to send individuals or families to empty hotel rooms. The measure was withdrawn in December and will not be on the ballot. LA City Council approved a compromise ordinance impacting developers more than owners.</p>
<p>More hotels outside Los Angeles city limits have traded since April; however,<span> </span><strong>investment activity is still muted</strong>. Most hotels that sold in 2023 were lower-tier class hotels or part of larger national portfolio transactions. This is in line with the national commercial real estate investment slowdown.</p>
<p>The<span> </span><strong>high-priced tax-exempt transaction included hotels slated for conversion</strong>. In September, the Housing Authority of the City of Los Angeles sold the 133-room Extended Stay America LAX Airport to American Family Housing, Inc. for $50.7 million, or $381,120/key.</p>
<p>In August, ICO Investment Group sold the 294-room Mayfair Hotel to the City of Los Angeles for $60.3 million, or $204,923/key. The previous owner purchased the hotel in 2012 for an undisclosed price. The city of Los Angeles plans to convert the hotel as part of the Inside Safe initiative, which is a housing-focused solution to combating homelessness. The city plans to complete renovations for approximately $19 million and spend roughly $4 million toward project oversight, resulting in an estimated total spend of $83 million. The city hopes to reopen the Mayfair in February.</p>
<p>Still,<span> </span><strong>hotel investment activity could shift</strong>, and more discounted or distressed deals could transpire due to CMBS debt maturing in approximately 50 hotels in the next two years.</p>
<p> </p>
<p>Here are several graphs illustrating the current hospitality market in Los Angeles County:</p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/HH2.png" width="700" height="506"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/HH3.png" width="700" height="263"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/HH4.png" width="700" height="508"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/HH5.png" width="701" height="361"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/HH6.png" width="700" height="369"/></p>
<p><br/>Full Los Angeles County Commercial Hospitality Market Report Here:<span> </span><a href="https://d2saw6je89goi1.cloudfront.net/uploads/digital_asset/file/1189860/Los_Angeles_-_CA_-USA-Hospitality-Capital_Market-2024-03-10_a1.pdf" target="_blank" rel="noopener">https://d2saw6je89goi1.cloudfront.net/uploads/digital_asset/file/1189860/Los_Angeles_-_CA_-USA-Hospitality-Capital_Market-2024-03-10_a1.pdf</a> </p>
<p>Access Exclusive Commercial Real Estate Market Reports in The United States Here: <a href="https://www.manuelangeles.com/" target="_blank" rel="noopener">https://www.manuelangeles.com/</a> </p>
<p>Contact me for a complimentary market analysis and valuation report for your commercial property, along with up-to-date commercial real estate listings (on-market and off-market):<a href="https://api.leadconnectorhq.com/widget/bookings/maexp" target="_blank" rel="noopener"> https://api.leadconnectorhq.com/widget/bookings/maexp </a> </p>
<p>Thank you.</p>
<p>--</p>
<p>Best Regards,</p>
<p>Manuel Angeles<br/>Broker Associate<br/>CalDRE #01985856<br/>Mobile: (323) 900-5258<br/>Email: <a href="mailto:manuel.angeles@expcommercial.com" target="_blank" rel="noopener">manuel.angeles@expcommercial.com</a><br/>Website: <a href="https://www.manuelangeles.com/" target="_blank" rel="noopener">www.manuelangeles.com</a><br/>Address: 155 N. Lake Avenue, 8th Floor, Pasadena 91101</p>
<p><img src="https://ci3.googleusercontent.com/meips/ADKq_NahLjJufrQmiMhwHiqGQrCKku3kK7j-ZE1KDBNjskUE6pvfivAs8ESRapTCBHzJRPQ0R25tRPM1pknqGth6md1r5AzGeauBDKl9AXPVMb5jK8d2fiXBn_fWHRW3fxFChiF1Gf9xLvPAotDo5aIj_jorkxcjfgWljWzY3pkjdBGXCdeZg4iiE1WppzC6A-tMt1wY685E7OBBWCIgiAUMqQlPTDvQ9p5eSfG9whx6i_s2Ymo51cnmCChBg9wk0KThwpCn5jI8Gv8pUkp4h3DbYhBaJIi5ft4GCvgDP5bzZrhiL6ZFNFxg3Och4M6Z0A0IYZug_Zf36kXiDixxCK9Yv7A=s0-d-e1-ft#%3Ca%20href="/>https://firebasestorage.googleapis.com/v0/b/highlevel-backend.appspot.com/o/location%2FjsbVi8ljfyPfXWknAuzt%2Fcampaign%2FMiYTa1DE8DwdQk6SGufK%2F4689ba79-7c6c-45f9-b312-2e9ac50986a5?alt=media&token=ad5a1206-744d-4d4f-80b9-d9453a5bafbd" width="95" height="101" data-bit="iit" /></p>
<p><br/>Exp Commercial of California, Inc.<br/>CalDRE #02134436 <br/>Office: (855) 451-1236, ext 300<br/>Website: <a href="https://www.expcommercial.com/" target="_blank" rel="noopener">www.expcommercial.com</a><br/>Address: 2603 Camino Ramon, Ste 200, San Ramon, CA 94583<br/> <br/>| Commercial Real Estate Brokerage: Multifamily, Retail, Office, Mixed-Use, Industrial, Hospitality, Self-Storage, Land |<br/><br/><img src="https://ci3.googleusercontent.com/meips/ADKq_NY0_hsRh3zONMFuLDfdVD75jwktAnNfO7pWFgz66qzZFc1BFCZlJKiNIU5Xw0rbhcviFKjkpjQvzb3MNSo6sr3PBfElGc05_stxlG--OYZrcDmdeXwSCB9qIiM0vjMYWUmmagI2cIid3XKV9O9YkzXnz-FNpmqzwoD7vdW8BGy_TPGLMApi7y5SG7ketzhMcQ2Nb0X_XeXtZFyGnALiEXfaSdwx776Kj3onKz4WHX2iDMlgg9m5bumMzn9d-E99C4-jhZCYkBdayZ9CEpi_fJeauc7SwMQOyqrrZdrhpK3UhjeYiJCYOHaiPsvP9EOf6Bt973JGPQRY-9XWyvDF2v4=s0-d-e1-ft#%3Ca%20href="/>https://firebasestorage.googleapis.com/v0/b/highlevel-backend.appspot.com/o/location%2FjsbVi8ljfyPfXWknAuzt%2Fcampaign%2FMiYTa1DE8DwdQk6SGufK%2Ff219fb1e-f675-4c16-9e54-d10a0df39586?alt=media&token=4b5ba198-14d4-41ca-9d5b-d0eac5be0724" width="117" height="61" data-bit="iit" /> <img src="https://ci3.googleusercontent.com/meips/ADKq_NaPmRRoRxXcnNeQJCyt3azCjp0yH-m5Z_TmMxNgfoWjx5F4rnDWoidoonCN8EG6JtT1BsLZ1Y07qTT5YoSCeVkDT9xeWj_Y_2W0Z0DjLU_SozzJ0uPj-QEtSuBVLVvDOkBlCSt_OwkvVF2lRNZHOU8o8-PyTEyHZCbgjSqNIdqczgkHuXn-pJvgBjS4P5nFMRhIyfxHKK4KLM7gPvvECO_Il4gfTrGRW2WK4VH8HjcoVmmTKzajws252JbQumEcg1Zb7eT2c5Nl2vpEM4a0zubxPkQTy8C6Tra1NNqODHxCFP0lyquTjblPnUdaAxH6UKhqaKKZiR38mS--0kRiJ20=s0-d-e1-ft#%3Ca%20href="/>https://firebasestorage.googleapis.com/v0/b/highlevel-backend.appspot.com/o/location%2FjsbVi8ljfyPfXWknAuzt%2Fcampaign%2FMiYTa1DE8DwdQk6SGufK%2Fbc43c720-7734-4623-a126-34bda4d38455?alt=media&token=286e9bad-7619-45d9-86bb-a1b1b4eb4fb9" width="253" height="63" data-bit="iit" /></p>
</div>
</div>USA National Multifamily Market Report as of March 10, 2024tag:realestatefinance.ning.com,2024-03-11:6517464:BlogPost:4981622024-03-11T02:19:49.000ZManuel Angeleshttps://realestatefinance.ning.com/profile/ManuelAngeles661
<div class="featured-image"><img alt="M1.png" src="https://activerain-store.s3.amazonaws.com/blog_entries/650/5833650/original/M1.png?1710116324"></img></div>
<div class="blog-content style-reset-for-user-content user-content"><div><p>Greetings,</p>
<p>This is Manuel Angeles with Exp Commercial.</p>
<p>Here is an update on the current <span><strong>National Commercial Multifamily Real Estate Market in The United States of America</strong></span><span> </span>as of<span> </span><span><strong>March 10, 2024</strong></span>:</p>
<p><strong>Multifamily investment activity dipped below $100 billion in…</strong></p>
</div>
</div>
<div class="featured-image"><img alt="M1.png" src="https://activerain-store.s3.amazonaws.com/blog_entries/650/5833650/original/M1.png?1710116324"/></div>
<div class="blog-content style-reset-for-user-content user-content"><div><p>Greetings,</p>
<p>This is Manuel Angeles with Exp Commercial.</p>
<p>Here is an update on the current <span><strong>National Commercial Multifamily Real Estate Market in The United States of America</strong></span><span> </span>as of<span> </span><span><strong>March 10, 2024</strong></span>:</p>
<p><strong>Multifamily investment activity dipped below $100 billion in 2023</strong><span> </span>for the first time since 2014. After peaking in the second quarter of 2022 at $316 billion, trailing 12-month transaction volume finished the year close to 70% off the recent highs.</p>
<p>As<span> </span><strong>interest rate volatility whipsawed the capital markets last year</strong>, a noticeable shift in buying patterns saw investors move up the quality spectrum. The reason for the upward reach is at least twofold. The first is the opportunity to acquire high-quality assets that are marked down over 20% compared to peak pricing in the first quarter of 2022. The second is a growing desire to manage risk through owning better-quality assets where unexpected capital expenses are less likely. In the 3- Star property segment, price declines were less pronounced, falling about 15% from the peak where deals once traded for approximately $210,000 per door.</p>
<p>In addition to asset quality,<span> </span><strong>investors adapted their approaches to stay ahead of rent growth</strong>, leading to noticeable shifts in sales volume rankings. The buying frenzy of the second quarter of 2022 propelled national transaction activity, with cities like Atlanta, Phoenix, New York City, Los Angeles, and Washington, D.C., taking the lead. However, subsequent increases in interest rates caused a substantial reshuffling, reestablishing New York and Los Angeles as the dominant players. Meanwhile, previously thriving markets like Atlanta and Phoenix experienced decreased transaction volumes due to the steady influx of new supply and stagnant rent growth.</p>
<p>In the aftermath of the pandemic,<span> </span><strong>institutional capital was in the spotlight, surpassing private-buyer activity</strong><span> </span>as they outmatched lesser-known names while competing in the same arena. Yet, as interest rates rose, institutional capital took a breather, which allowed private buyers to gain market share in 2023.</p>
<p>Pricing trends have also experienced discernible changes.<span> </span><strong>Loan-to-value (LTV) ratios, once commonly found at 70%-80% with 3%-3.5% interest rates, have now slipped to around 55%-65% LTV with high-5% to mid-6% interest rates</strong>. Therefore, sellers increasingly offer debt assumptions to preserve disposition targets and supply greater financing certainty to their buyers.</p>
<p>As<span> </span><strong>property values decline, rising yield requirements are diffusing across assets of varying quality and vintages</strong>. These spreads were flattened during the buying spree in 2021 but are re-emerging with rising uncertainty. Currently, cap rates for many 4 & 5 Star assets fluctuate in the mid-5% range, while 3-Star assets have broadly climbed toward 6%. Older, less luxurious assets are now pushing north of the 6% threshold.</p>
<p>With a significant stake in the<span> </span><strong>$4.5 trillion commercial real estate mortgage debt</strong>, the multifamily sector anticipates a modest increase in loan maturities this year, with obligations of $255 billion and $243 billion in 2024 and 2025, respectively. Remarkably, despite these ongoing shifts, delinquency rates remain low on a relative basis when compared to the office, retail, and hospitality sectors.</p>
<p>Although factors such as declining household formations, rising supply deliveries, and weakening demand may present temporary obstacles,<span> </span><strong>the sector has successfully emerged from similar challenges in the past</strong>. The ability to adapt and evolve reinforces its continued importance in the commercial real estate landscape, emphasizing the significance of a mindful strategy to navigate these ongoing shifts.</p>
<p> </p>
<p>Here are several graphs illustrating the current national commercial multifamily market in The United States of America:</p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/M2.png" width="700" height="499"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/M3.png" width="700" height="261"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/M4.png" width="700" height="358"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/M5.png" width="700" height="358"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/M6.png" width="700" height="350"/></p>
<p> </p>
<p>Full Commercial Multifamily Market Report Here:<span> </span><a href="https://d2saw6je89goi1.cloudfront.net/uploads/digital_asset/file/1189859/United_States-MultiFamily-Capital_National-2024-03-10_a.pdf" target="_blank" rel="noopener">https://d2saw6je89goi1.cloudfront.net/uploads/digital_asset/file/1189859/United_States-MultiFamily-Capital_National-2024-03-10_a.pdf</a> </p>
<p>Access Exclusive Commercial Real Estate Market Reports in The United States Here: <a href="https://www.manuelangeles.com/" target="_blank" rel="noopener">https://www.manuelangeles.com/</a> </p>
<p>Contact me for a complimentary market analysis and valuation report for your commercial property, along with up-to-date commercial real estate listings (on-market and off-market):<a href="https://api.leadconnectorhq.com/widget/bookings/maexp" target="_blank" rel="noopener"> https://api.leadconnectorhq.com/widget/bookings/maexp </a> </p>
<p>Thank you.</p>
<p>--</p>
<p>Best Regards,</p>
<p>Manuel Angeles<br/>Broker Associate<br/>CalDRE #01985856<br/>Mobile: (323) 900-5258<br/>Email: <a href="mailto:manuel.angeles@expcommercial.com" target="_blank" rel="noopener">manuel.angeles@expcommercial.com</a><br/>Website: <a href="https://www.manuelangeles.com/" target="_blank" rel="noopener">www.manuelangeles.com</a><br/>Address: 155 N. Lake Avenue, 8th Floor, Pasadena 91101</p>
<p><img src="https://ci3.googleusercontent.com/meips/ADKq_NahLjJufrQmiMhwHiqGQrCKku3kK7j-ZE1KDBNjskUE6pvfivAs8ESRapTCBHzJRPQ0R25tRPM1pknqGth6md1r5AzGeauBDKl9AXPVMb5jK8d2fiXBn_fWHRW3fxFChiF1Gf9xLvPAotDo5aIj_jorkxcjfgWljWzY3pkjdBGXCdeZg4iiE1WppzC6A-tMt1wY685E7OBBWCIgiAUMqQlPTDvQ9p5eSfG9whx6i_s2Ymo51cnmCChBg9wk0KThwpCn5jI8Gv8pUkp4h3DbYhBaJIi5ft4GCvgDP5bzZrhiL6ZFNFxg3Och4M6Z0A0IYZug_Zf36kXiDixxCK9Yv7A=s0-d-e1-ft#%3Ca%20href="/>https://firebasestorage.googleapis.com/v0/b/highlevel-backend.appspot.com/o/location%2FjsbVi8ljfyPfXWknAuzt%2Fcampaign%2FMiYTa1DE8DwdQk6SGufK%2F4689ba79-7c6c-45f9-b312-2e9ac50986a5?alt=media&token=ad5a1206-744d-4d4f-80b9-d9453a5bafbd" width="95" height="101" data-bit="iit" /></p>
<p><br/>Exp Commercial of California, Inc.<br/>CalDRE #02134436 <br/>Office: (855) 451-1236, ext 300<br/>Website: <a href="https://www.expcommercial.com/" target="_blank" rel="noopener">www.expcommercial.com</a><br/>Address: 2603 Camino Ramon, Ste 200, San Ramon, CA 94583<br/> <br/>| Commercial Real Estate Brokerage: Multifamily, Retail, Office, Mixed-Use, Industrial, Hospitality, Self-Storage, Land |<br/><br/><img src="https://ci3.googleusercontent.com/meips/ADKq_NY0_hsRh3zONMFuLDfdVD75jwktAnNfO7pWFgz66qzZFc1BFCZlJKiNIU5Xw0rbhcviFKjkpjQvzb3MNSo6sr3PBfElGc05_stxlG--OYZrcDmdeXwSCB9qIiM0vjMYWUmmagI2cIid3XKV9O9YkzXnz-FNpmqzwoD7vdW8BGy_TPGLMApi7y5SG7ketzhMcQ2Nb0X_XeXtZFyGnALiEXfaSdwx776Kj3onKz4WHX2iDMlgg9m5bumMzn9d-E99C4-jhZCYkBdayZ9CEpi_fJeauc7SwMQOyqrrZdrhpK3UhjeYiJCYOHaiPsvP9EOf6Bt973JGPQRY-9XWyvDF2v4=s0-d-e1-ft#%3Ca%20href="/>https://firebasestorage.googleapis.com/v0/b/highlevel-backend.appspot.com/o/location%2FjsbVi8ljfyPfXWknAuzt%2Fcampaign%2FMiYTa1DE8DwdQk6SGufK%2Ff219fb1e-f675-4c16-9e54-d10a0df39586?alt=media&token=4b5ba198-14d4-41ca-9d5b-d0eac5be0724" width="117" height="61" data-bit="iit" /> <img src="https://ci3.googleusercontent.com/meips/ADKq_NaPmRRoRxXcnNeQJCyt3azCjp0yH-m5Z_TmMxNgfoWjx5F4rnDWoidoonCN8EG6JtT1BsLZ1Y07qTT5YoSCeVkDT9xeWj_Y_2W0Z0DjLU_SozzJ0uPj-QEtSuBVLVvDOkBlCSt_OwkvVF2lRNZHOU8o8-PyTEyHZCbgjSqNIdqczgkHuXn-pJvgBjS4P5nFMRhIyfxHKK4KLM7gPvvECO_Il4gfTrGRW2WK4VH8HjcoVmmTKzajws252JbQumEcg1Zb7eT2c5Nl2vpEM4a0zubxPkQTy8C6Tra1NNqODHxCFP0lyquTjblPnUdaAxH6UKhqaKKZiR38mS--0kRiJ20=s0-d-e1-ft#%3Ca%20href="/>https://firebasestorage.googleapis.com/v0/b/highlevel-backend.appspot.com/o/location%2FjsbVi8ljfyPfXWknAuzt%2Fcampaign%2FMiYTa1DE8DwdQk6SGufK%2Fbc43c720-7734-4623-a126-34bda4d38455?alt=media&token=286e9bad-7619-45d9-86bb-a1b1b4eb4fb9" width="253" height="63" data-bit="iit" /></p>
</div>
</div>USA National Retail Market Report as of March 10, 2024tag:realestatefinance.ning.com,2024-03-11:6517464:BlogPost:4985282024-03-11T02:19:12.000ZManuel Angeleshttps://realestatefinance.ning.com/profile/ManuelAngeles661
<div class="featured-image"><img alt="R1.png" src="https://activerain-store.s3.amazonaws.com/blog_entries/649/5833649/original/R1.png?1710115414"></img></div>
<div class="blog-content style-reset-for-user-content user-content"><div><p>Greetings,</p>
<p>This is Manuel Angeles with Exp Commercial.</p>
<p>Here is an update on the current <span><strong>National Commercial Retail Real Estate Market in The United States of America</strong></span><span> </span>as of<span> </span><span><strong>March 10, 2024</strong></span>:</p>
<p>In<span> </span><strong>2023, retail transaction volume dropped to $53…</strong></p>
</div>
</div>
<div class="featured-image"><img alt="R1.png" src="https://activerain-store.s3.amazonaws.com/blog_entries/649/5833649/original/R1.png?1710115414"/></div>
<div class="blog-content style-reset-for-user-content user-content"><div><p>Greetings,</p>
<p>This is Manuel Angeles with Exp Commercial.</p>
<p>Here is an update on the current <span><strong>National Commercial Retail Real Estate Market in The United States of America</strong></span><span> </span>as of<span> </span><span><strong>March 10, 2024</strong></span>:</p>
<p>In<span> </span><strong>2023, retail transaction volume dropped to $53 billion</strong>, marking a roughly 25% decrease from the average over the past decade. However, signs suggest that sales activity may be nearing its lowest point in the current cycle, as the first two months of the year were only 13% below the levels from the same period in 2023.</p>
<p>The<span> </span><strong>capital markets environment today revolves around two main strategies</strong>. At different price points in the retail investment market, smaller private investors often pay cash to leverage 1031 tax-deferred exchanges and focus on long-term investments for estate planning purposes. On the other hand, investors who rely heavily on debt markets tend to respond swiftly to macroeconomic factors like rising interest rates, concentrating on large, management-intensive projects, and adjusting their price targets based on their evolving cost of capital and future cash flow projections.</p>
<p>The<span> </span><strong>top end of the market sees a limited number of marketed investment deals</strong>, but the sluggish transaction activity is not due to a lack of supply at the lower end. In fact, the number of triple-net listings is increasing as the average time on the market goes up. One reason for the declining sales volume is the mismatch between pricing expectations as builders deliver new pre-leased offerings.</p>
<p><strong>Smaller exchange buyers might be willing to accept going-in yields below short-term treasuries</strong><span> </span><strong>and up to the 6% range</strong>, but larger investors need to adjust to a higher cost of capital. Investment sales over $10 million, which had cap rates in the mid-5% range in early 2022, are now more commonly found in the mid-6% to mid7% range in the early months of 2024.</p>
<p>Overall,<span> </span><strong>retail properties have experienced a drop in value</strong>, with struggling malls significantly contributing to the double-digit price declines at the top end of the market. Grocery-anchored neighborhood centers, on the other hand, are highly sought after and often command cap rates in the 6% to 7% range, with better quality assets pushing well into the 5% region.</p>
<p>For example, institutional investment manager Nuveen acquired Peachtree Crossing in Atlanta for $21.8 million, or $270/SF, in January 2024. The 80,750-SF grocery-anchored neighborhood center, which traded at a 6.5% cap rate and was 92% occupied, has had The Fresh Market as its anchor tenant for the past 12 years.</p>
<p>Higher up the pricing spectrum,<span> </span><strong>unanchored and open-air shopping centers may see cap rates above 7%<span> </span></strong>and occasionally push into the 8% to 9% range as specific market and quality factors influence each transaction.</p>
<p>In the open-air shopping center segment, Nuveen sold the 1 MSF Fayette Pavilion to 5Rivers CRE, a private buyer from Houston, for $134 million, or $128/SF. The 96%-occupied shopping center, one of the largest retail centers in Georgia, attracts over 8 million visitors a year. Due to the rising cost of financing, the deal fetched an 8% cap rate, typical for transactions in this size range.</p>
<p>As we move through the first quarter of 2024,<span> </span><strong>the $180 billion in retail loans maturing between 2024 and 2026<span> </span></strong>presents a significant consideration for the market. Lending standards are tight across all lender types, and regional banks are scaling back their pace of originations. This year will also test the U.S. consumer's ability to continue spending. However, the limited new retail construction and historically low availability rates should help limit any potential surge in vacancy rates in the event of a demand pullback</p>
<p> </p>
<p>Here are several graphs illustrating the current national commercial retail market in The United States of America:</p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/R2.png" width="700" height="501"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/R3.png" width="700" height="258"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/R4.png" width="700" height="360"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/R5.png" width="700" height="359"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/R6.png" width="700" height="360"/></p>
<p> </p>
<p>Full Commercial Retail Market Report Here:<span> </span><a href="https://d2saw6je89goi1.cloudfront.net/uploads/digital_asset/file/1189858/United_States-Retail-Capital_National-2024-03-10_a.pdf" target="_blank" rel="noopener">https://d2saw6je89goi1.cloudfront.net/uploads/digital_asset/file/1189858/United_States-Retail-Capital_National-2024-03-10_a.pdf</a> </p>
<p>Access Exclusive Commercial Real Estate Market Reports in The United States Here: <a href="https://www.manuelangeles.com/" target="_blank" rel="noopener">https://www.manuelangeles.com/</a> </p>
<p>Contact me for a complimentary market analysis and valuation report for your commercial property, along with up-to-date commercial real estate listings (on-market and off-market):<a href="https://api.leadconnectorhq.com/widget/bookings/maexp" target="_blank" rel="noopener"> https://api.leadconnectorhq.com/widget/bookings/maexp </a> </p>
<p>Thank you.</p>
<p>--</p>
<p>Best Regards,</p>
<p>Manuel Angeles<br/>Broker Associate<br/>CalDRE #01985856<br/>Mobile: (323) 900-5258<br/>Email: <a href="mailto:manuel.angeles@expcommercial.com" target="_blank" rel="noopener">manuel.angeles@expcommercial.com</a><br/>Website: <a href="https://www.manuelangeles.com/" target="_blank" rel="noopener">www.manuelangeles.com</a><br/>Address: 155 N. Lake Avenue, 8th Floor, Pasadena 91101</p>
<p><img src="https://ci3.googleusercontent.com/meips/ADKq_NahLjJufrQmiMhwHiqGQrCKku3kK7j-ZE1KDBNjskUE6pvfivAs8ESRapTCBHzJRPQ0R25tRPM1pknqGth6md1r5AzGeauBDKl9AXPVMb5jK8d2fiXBn_fWHRW3fxFChiF1Gf9xLvPAotDo5aIj_jorkxcjfgWljWzY3pkjdBGXCdeZg4iiE1WppzC6A-tMt1wY685E7OBBWCIgiAUMqQlPTDvQ9p5eSfG9whx6i_s2Ymo51cnmCChBg9wk0KThwpCn5jI8Gv8pUkp4h3DbYhBaJIi5ft4GCvgDP5bzZrhiL6ZFNFxg3Och4M6Z0A0IYZug_Zf36kXiDixxCK9Yv7A=s0-d-e1-ft#%3Ca%20href="/>https://firebasestorage.googleapis.com/v0/b/highlevel-backend.appspot.com/o/location%2FjsbVi8ljfyPfXWknAuzt%2Fcampaign%2FMiYTa1DE8DwdQk6SGufK%2F4689ba79-7c6c-45f9-b312-2e9ac50986a5?alt=media&token=ad5a1206-744d-4d4f-80b9-d9453a5bafbd" width="95" height="101" data-bit="iit" /></p>
<p><br/>Exp Commercial of California, Inc.<br/>CalDRE #02134436 <br/>Office: (855) 451-1236, ext 300<br/>Website: <a href="https://www.expcommercial.com/" target="_blank" rel="noopener">www.expcommercial.com</a><br/>Address: 2603 Camino Ramon, Ste 200, San Ramon, CA 94583<br/> <br/>| Commercial Real Estate Brokerage: Multifamily, Retail, Office, Mixed-Use, Industrial, Hospitality, Self-Storage, Land |<br/><br/><img src="https://ci3.googleusercontent.com/meips/ADKq_NY0_hsRh3zONMFuLDfdVD75jwktAnNfO7pWFgz66qzZFc1BFCZlJKiNIU5Xw0rbhcviFKjkpjQvzb3MNSo6sr3PBfElGc05_stxlG--OYZrcDmdeXwSCB9qIiM0vjMYWUmmagI2cIid3XKV9O9YkzXnz-FNpmqzwoD7vdW8BGy_TPGLMApi7y5SG7ketzhMcQ2Nb0X_XeXtZFyGnALiEXfaSdwx776Kj3onKz4WHX2iDMlgg9m5bumMzn9d-E99C4-jhZCYkBdayZ9CEpi_fJeauc7SwMQOyqrrZdrhpK3UhjeYiJCYOHaiPsvP9EOf6Bt973JGPQRY-9XWyvDF2v4=s0-d-e1-ft#%3Ca%20href="/>https://firebasestorage.googleapis.com/v0/b/highlevel-backend.appspot.com/o/location%2FjsbVi8ljfyPfXWknAuzt%2Fcampaign%2FMiYTa1DE8DwdQk6SGufK%2Ff219fb1e-f675-4c16-9e54-d10a0df39586?alt=media&token=4b5ba198-14d4-41ca-9d5b-d0eac5be0724" width="117" height="61" data-bit="iit" /> <img src="https://ci3.googleusercontent.com/meips/ADKq_NaPmRRoRxXcnNeQJCyt3azCjp0yH-m5Z_TmMxNgfoWjx5F4rnDWoidoonCN8EG6JtT1BsLZ1Y07qTT5YoSCeVkDT9xeWj_Y_2W0Z0DjLU_SozzJ0uPj-QEtSuBVLVvDOkBlCSt_OwkvVF2lRNZHOU8o8-PyTEyHZCbgjSqNIdqczgkHuXn-pJvgBjS4P5nFMRhIyfxHKK4KLM7gPvvECO_Il4gfTrGRW2WK4VH8HjcoVmmTKzajws252JbQumEcg1Zb7eT2c5Nl2vpEM4a0zubxPkQTy8C6Tra1NNqODHxCFP0lyquTjblPnUdaAxH6UKhqaKKZiR38mS--0kRiJ20=s0-d-e1-ft#%3Ca%20href="/>https://firebasestorage.googleapis.com/v0/b/highlevel-backend.appspot.com/o/location%2FjsbVi8ljfyPfXWknAuzt%2Fcampaign%2FMiYTa1DE8DwdQk6SGufK%2Fbc43c720-7734-4623-a126-34bda4d38455?alt=media&token=286e9bad-7619-45d9-86bb-a1b1b4eb4fb9" width="253" height="63" data-bit="iit" /></p>
</div>
</div>USA National Office Market Report as of March 10, 2024tag:realestatefinance.ning.com,2024-03-11:6517464:BlogPost:4987282024-03-11T02:18:21.000ZManuel Angeleshttps://realestatefinance.ning.com/profile/ManuelAngeles661
<div class="featured-image"><img alt="O1.png" src="https://activerain-store.s3.amazonaws.com/blog_entries/648/5833648/original/O1.png?1710115197"></img></div>
<div class="blog-content style-reset-for-user-content user-content"><div><p>Greetings,</p>
<p>This is Manuel Angeles with Exp Commercial.</p>
<p>Here is an update on the current <span><strong>National Commercial Office Real Estate Market in The United States of America</strong></span><span> </span>as of<span> </span><span><strong>March 10, 2024</strong></span>:</p>
<p>In the challenging landscape of U.S. office sales, a potential bright spot is…</p>
</div>
</div>
<div class="featured-image"><img alt="O1.png" src="https://activerain-store.s3.amazonaws.com/blog_entries/648/5833648/original/O1.png?1710115197"/></div>
<div class="blog-content style-reset-for-user-content user-content"><div><p>Greetings,</p>
<p>This is Manuel Angeles with Exp Commercial.</p>
<p>Here is an update on the current <span><strong>National Commercial Office Real Estate Market in The United States of America</strong></span><span> </span>as of<span> </span><span><strong>March 10, 2024</strong></span>:</p>
<p>In the challenging landscape of U.S. office sales, a potential bright spot is that<span> </span><strong>sales activity may have reached the cycle low</strong>. Despite a 56% year-over-year decrease in transaction volume to a 14-year low of $35 billion, quarterly sales activity remained stable throughout most of 2023, with 23Q4 volume slightly above the level set in 23Q1.</p>
<p>The<span> </span><strong>early months of 2024 saw a significant shift in the market dynamics</strong>, with owner-users overtaking private buyers as the primary buyers of large office developments. This change marks a departure from the trend since mid-2022, where private buyers led acquisitions as REITs and institutional investors reduced their exposure. The first quarter of 2018 was the last time owner-users dominated net buying activity. Although this trend may be temporary, substantial pricing discounts could attract more corporate investment into the sector.</p>
<p>A notable example is CoStar's acquisition of Central Place Tower in Arlington, Virginia. The 31-story, 552,000-SF trophy office development was purchased in February at a significant discount due to upcoming vacancies, allowing CoStar to relocate 500 employees from Washington, D.C., into 150,000 SF. The property, sold by a joint venture between JBG SMITH and PGIM for $325 million, or $588/SF, was approximately 26% below its 2019 valuation.</p>
<p>Other examples include Lennar's acquisition of its Miami, Florida headquarters for $68 million, or $319/SF, and First Energy's purchase of its Akron, Ohio headquarters for $49 million, or $136/SF, both at substantial discounts to replacement cost.</p>
<p><strong>Investors pricing deals at discounts to existing debt is a parallel trend</strong>. Two examples include R2 companies' acquisition of 150 N Michigan Avenue in Chicago for $90/SF and In-Rel Properties' purchase of 7500 Old Georgetown Road outside of Washington, D.C., for $92/SF.</p>
<p>Such steep<span> </span><strong>discounts can be necessary as negative absorption and declining rent growth<span> </span></strong>make it difficult to underwrite office today. With increasing vacancies, fewer deals are priced based on going-in yields. They are often based on a combination of unleveraged internal rates of return and discounts to replacement cost due to the scarcity of debt.</p>
<p><strong>Where cap rates are used, they have seen significant movement off the 2021 lows</strong>, with 5-star properties seeing yields expand by 175-200 basis points. More commonly, 4-star properties have seen as much as 200- 250 basis points of expansion.</p>
<p>This range of<span> </span><strong>cap rates is generally found in the upper 7% to 9% territory</strong>, indicating that office property values for transactions over $10 million are down by roughly 35% from the all-time high in 2021, excluding medical and owner-user sales.</p>
<p><strong>Debt maturities pose challenges for 2024</strong>, with around $206 billion in office loans maturing this year and another $180 billion in 2025 and 2026 combined. With delinquency rates at 7.4%, there is a possibility that they will surpass post-GFC levels of 10.5% in the next year. However, as asset valuations become clearer, the vast pool of capital remaining in the sector could offer strategic opportunities for informed investors.</p>
<p> </p>
<p>Here are several graphs illustrating the current national commercial office market in The United States of America:</p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/O2.png" width="701" height="501"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/O3.png" width="700" height="257"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/O4.png" width="700" height="353"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/O5.png" width="700" height="348"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/O6.png" width="700" height="361"/></p>
<p> </p>
<p>Full Commercial Office Market Report Here:<span> </span><a href="https://d2saw6je89goi1.cloudfront.net/uploads/digital_asset/file/1189856/United_States-Office-Capital_National-2024-03-10_a.pdf" target="_blank" rel="noopener">https://d2saw6je89goi1.cloudfront.net/uploads/digital_asset/file/1189856/United_States-Office-Capital_National-2024-03-10_a.pdf</a> </p>
<p>Access Exclusive Commercial Real Estate Market Reports in The United States Here: <a href="https://www.manuelangeles.com/" target="_blank" rel="noopener">https://www.manuelangeles.com/</a> </p>
<p>Contact me for a complimentary market analysis and valuation report for your commercial property, along with up-to-date commercial real estate listings (on-market and off-market):<a href="https://api.leadconnectorhq.com/widget/bookings/maexp" target="_blank" rel="noopener"> https://api.leadconnectorhq.com/widget/bookings/maexp </a> </p>
<p>Thank you.</p>
<p>--</p>
<p>Best Regards,</p>
<p>Manuel Angeles<br/>Broker Associate<br/>CalDRE #01985856<br/>Mobile: (323) 900-5258<br/>Email: <a href="mailto:manuel.angeles@expcommercial.com" target="_blank" rel="noopener">manuel.angeles@expcommercial.com</a><br/>Website: <a href="https://www.manuelangeles.com/" target="_blank" rel="noopener">www.manuelangeles.com</a><br/>Address: 155 N. Lake Avenue, 8th Floor, Pasadena 91101</p>
<p><img src="https://ci3.googleusercontent.com/meips/ADKq_NahLjJufrQmiMhwHiqGQrCKku3kK7j-ZE1KDBNjskUE6pvfivAs8ESRapTCBHzJRPQ0R25tRPM1pknqGth6md1r5AzGeauBDKl9AXPVMb5jK8d2fiXBn_fWHRW3fxFChiF1Gf9xLvPAotDo5aIj_jorkxcjfgWljWzY3pkjdBGXCdeZg4iiE1WppzC6A-tMt1wY685E7OBBWCIgiAUMqQlPTDvQ9p5eSfG9whx6i_s2Ymo51cnmCChBg9wk0KThwpCn5jI8Gv8pUkp4h3DbYhBaJIi5ft4GCvgDP5bzZrhiL6ZFNFxg3Och4M6Z0A0IYZug_Zf36kXiDixxCK9Yv7A=s0-d-e1-ft#%3Ca%20href="/>https://firebasestorage.googleapis.com/v0/b/highlevel-backend.appspot.com/o/location%2FjsbVi8ljfyPfXWknAuzt%2Fcampaign%2FMiYTa1DE8DwdQk6SGufK%2F4689ba79-7c6c-45f9-b312-2e9ac50986a5?alt=media&token=ad5a1206-744d-4d4f-80b9-d9453a5bafbd" width="95" height="101" data-bit="iit" /></p>
<p><br/>Exp Commercial of California, Inc.<br/>CalDRE #02134436 <br/>Office: (855) 451-1236, ext 300<br/>Website: <a href="https://www.expcommercial.com/" target="_blank" rel="noopener">www.expcommercial.com</a><br/>Address: 2603 Camino Ramon, Ste 200, San Ramon, CA 94583<br/> <br/>| Commercial Real Estate Brokerage: Multifamily, Retail, Office, Mixed-Use, Industrial, Hospitality, Self-Storage, Land |<br/><br/><img src="https://ci3.googleusercontent.com/meips/ADKq_NY0_hsRh3zONMFuLDfdVD75jwktAnNfO7pWFgz66qzZFc1BFCZlJKiNIU5Xw0rbhcviFKjkpjQvzb3MNSo6sr3PBfElGc05_stxlG--OYZrcDmdeXwSCB9qIiM0vjMYWUmmagI2cIid3XKV9O9YkzXnz-FNpmqzwoD7vdW8BGy_TPGLMApi7y5SG7ketzhMcQ2Nb0X_XeXtZFyGnALiEXfaSdwx776Kj3onKz4WHX2iDMlgg9m5bumMzn9d-E99C4-jhZCYkBdayZ9CEpi_fJeauc7SwMQOyqrrZdrhpK3UhjeYiJCYOHaiPsvP9EOf6Bt973JGPQRY-9XWyvDF2v4=s0-d-e1-ft#%3Ca%20href="/>https://firebasestorage.googleapis.com/v0/b/highlevel-backend.appspot.com/o/location%2FjsbVi8ljfyPfXWknAuzt%2Fcampaign%2FMiYTa1DE8DwdQk6SGufK%2Ff219fb1e-f675-4c16-9e54-d10a0df39586?alt=media&token=4b5ba198-14d4-41ca-9d5b-d0eac5be0724" width="117" height="61" data-bit="iit" /> <img src="https://ci3.googleusercontent.com/meips/ADKq_NaPmRRoRxXcnNeQJCyt3azCjp0yH-m5Z_TmMxNgfoWjx5F4rnDWoidoonCN8EG6JtT1BsLZ1Y07qTT5YoSCeVkDT9xeWj_Y_2W0Z0DjLU_SozzJ0uPj-QEtSuBVLVvDOkBlCSt_OwkvVF2lRNZHOU8o8-PyTEyHZCbgjSqNIdqczgkHuXn-pJvgBjS4P5nFMRhIyfxHKK4KLM7gPvvECO_Il4gfTrGRW2WK4VH8HjcoVmmTKzajws252JbQumEcg1Zb7eT2c5Nl2vpEM4a0zubxPkQTy8C6Tra1NNqODHxCFP0lyquTjblPnUdaAxH6UKhqaKKZiR38mS--0kRiJ20=s0-d-e1-ft#%3Ca%20href="/>https://firebasestorage.googleapis.com/v0/b/highlevel-backend.appspot.com/o/location%2FjsbVi8ljfyPfXWknAuzt%2Fcampaign%2FMiYTa1DE8DwdQk6SGufK%2Fbc43c720-7734-4623-a126-34bda4d38455?alt=media&token=286e9bad-7619-45d9-86bb-a1b1b4eb4fb9" width="253" height="63" data-bit="iit" /></p>
</div>
</div>USA National Industrial Market Report as of March 10, 2024tag:realestatefinance.ning.com,2024-03-11:6517464:BlogPost:4988022024-03-11T02:17:34.000ZManuel Angeleshttps://realestatefinance.ning.com/profile/ManuelAngeles661
<div class="featured-image"><img alt="I1.png" src="https://activerain-store.s3.amazonaws.com/blog_entries/647/5833647/original/I1.png?1710114596"></img></div>
<div class="blog-content style-reset-for-user-content user-content"><div><div><p><span>Greetings,</span></p>
<p><span>This is Manuel Angeles with Exp Commercial.</span></p>
<p><span>Here is an update on the current <strong>National Commercial Industrial Real Estate Market in The United States of America</strong> as of <strong>March 10, 2024</strong>:</span></p>
<p><span>Initial estimates of industrial investment activity suggest that a <strong>little…</strong></span></p>
</div>
</div>
</div>
<div class="featured-image"><img alt="I1.png" src="https://activerain-store.s3.amazonaws.com/blog_entries/647/5833647/original/I1.png?1710114596"/></div>
<div class="blog-content style-reset-for-user-content user-content"><div><div><p><span>Greetings,</span></p>
<p><span>This is Manuel Angeles with Exp Commercial.</span></p>
<p><span>Here is an update on the current <strong>National Commercial Industrial Real Estate Market in The United States of America</strong> as of <strong>March 10, 2024</strong>:</span></p>
<p><span>Initial estimates of industrial investment activity suggest that a <strong>little less than $60 billion exchanged hands in 2023</strong>, approximately 15% below the market's 10-year average. Comparatively, trailing 12-month sales volume peaked in the second quarter of 2022 at $140 billion, but has since fallen close to 60% from the recent highs.</span></p>
<p><span>This slowdown highlights the lingering <strong>impacts of rising interest rates</strong> and the commensurate uncertainty around asset pricing as rent growth has begun to decelerate.</span></p>
<p><span>However, <strong>private capital remains at the forefront of buying activity</strong>, fueled by a steady tide of fresh entrants to the sector and existing operators' efforts to beef up their portfolios. Not to be left behind, institutional and public REIT investors persist in their pace of acquisitions, homing in on first-class developments and prime locations.</span></p>
<p><span><strong>Yields on stabilized industrial investments continue to price in a tight range over treasuries</strong>, which began falling in the fourth quarter due to slowing economic growth and the market's expectations of rate cuts beginning in the first half of 2024.</span></p>
<p><span>Properties offering in-place rents substantially below market can still see <strong>cap rates in the upper 4% range, but a growing portion now trades in the low 5% spectrum</strong>. These yields were once seen in the low- to mid-3% range before the Federal Reserve's rate hiking campaign began in 2022. By contrast, secondary markets and deals with a restrained mark-to-market opportunity can see pricing in the 5% to 6% band, as investors in these markets are less willing to apply negative leverage beyond the first couple of years. At the top end of cap rates, deal profiles that lack a sizeable rent growth story and rely on bank or CMBS debt can find yields in the 6% and 7% range.</span></p>
<p><span>In October, Faropoint purchased two 1970s vintage business parks outside Newark, NJ, from a venture between Camber Real Estate and Advance Realty Partners. The 770,603-square-foot, 10-building portfolio traded for $144.5 million, or $188/SF, at a 6.25% cap rate. The transaction signifies a <strong>growing trend of industrial investors acquiring shallow-bay product in established locations</strong> to avoid competition with the growing supply of distribution centers hitting the market.</span></p>
<p><span>In the same month, Terreno Realty (NYSE: TRNO) acquired a two-tenant, 112,363-square-foot shipment facility in Redondo Beach, CA, from Link Logistics, a subsidiary of Blackstone. The 1968-vintage, 100%- leased project was priced at a 5.3% cap rate, which equated to $45.7 million, or $407/SF. The property is situated immediately west of the 405 freeway north of Manhattan Beach Boulevard, and it checks several boxes for institutional capital as this buyer profile continues to be drawn toward infill locations in coastal markets.</span></p>
<p><span>After eight quarters of declining transaction volume, <strong>2024 may see an uptick</strong> in sales velocity if the 2008-2009 commercial real estate downturn serves as a guide. During that period, the number of closings fell for seven consecutive quarters before rebounding 74% over the ensuing two years.</span></p>
<p><span>Additionally, the <strong>$24 billion in maturing CMBS loans this year could stimulate sales activity</strong> as the interest rate environment will likely be much different from their rates at origination. Fortunately, a substantial amount of equity has been built up in recent years, and a near-term maturity may serve as a catalyst for owners to take profits and recycle the capital into new ventures</span></p>
<p> </p>
<p><span>Here are several graphs illustrating the current national commercial industrial market in The United States of America:</span></p>
<p><span><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/I2.png" width="705" height="508"/></span></p>
<p><span><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/I3.png" width="704" height="265"/></span></p>
<p><span><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/I4.png" width="704" height="357"/></span></p>
<p><span><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/I5.png" width="703" height="356"/></span></p>
<p><span><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/I6.png" width="702" height="360"/></span></p>
<p> </p>
<p><span>Full Commercial Industrial Market Report Here: <a href="https://d2saw6je89goi1.cloudfront.net/uploads/digital_asset/file/1189855/United_States-Industrial-Capital_National-2024-03-10_a.pdf" target="_blank" rel="noopener">https://d2saw6je89goi1.cloudfront.net/uploads/digital_asset/file/1189855/United_States-Industrial-Capital_National-2024-03-10_a.pdf</a> </span></p>
<p><span>Access Exclusive Commercial Real Estate Market Reports in The United States Here: <a href="https://www.manuelangeles.com/" target="_blank" rel="noopener">https://www.manuelangeles.com/</a> </span></p>
<p><span>Contact me for a complimentary market analysis and valuation report for your commercial property, along with up-to-date commercial real estate listings (on-market and off-market):<a href="https://api.leadconnectorhq.com/widget/bookings/maexp" target="_blank" rel="noopener"> https://api.leadconnectorhq.com/widget/bookings/maexp </a> </span></p>
<p><span>Thank you.</span></p>
<p><span>--</span></p>
<p><span>Best Regards,</span></p>
<p><span>Manuel Angeles</span><br/><span>Broker Associate</span><br/><span>CalDRE #01985856</span><br/><span>Mobile: (323) 900-5258</span><br/><span>Email: <a href="mailto:manuel.angeles@expcommercial.com" target="_blank" rel="noopener">manuel.angeles@expcommercial.com</a></span><br/><span>Website: <a href="https://www.manuelangeles.com/" target="_blank" rel="noopener">www.manuelangeles.com</a></span><br/><span>Address: 155 N. Lake Avenue, 8th Floor, Pasadena 91101</span></p>
<p><span><img src="https://ci3.googleusercontent.com/meips/ADKq_NahLjJufrQmiMhwHiqGQrCKku3kK7j-ZE1KDBNjskUE6pvfivAs8ESRapTCBHzJRPQ0R25tRPM1pknqGth6md1r5AzGeauBDKl9AXPVMb5jK8d2fiXBn_fWHRW3fxFChiF1Gf9xLvPAotDo5aIj_jorkxcjfgWljWzY3pkjdBGXCdeZg4iiE1WppzC6A-tMt1wY685E7OBBWCIgiAUMqQlPTDvQ9p5eSfG9whx6i_s2Ymo51cnmCChBg9wk0KThwpCn5jI8Gv8pUkp4h3DbYhBaJIi5ft4GCvgDP5bzZrhiL6ZFNFxg3Och4M6Z0A0IYZug_Zf36kXiDixxCK9Yv7A=s0-d-e1-ft#%3Ca%20href="/>https://firebasestorage.googleapis.com/v0/b/highlevel-backend.appspot.com/o/location%2FjsbVi8ljfyPfXWknAuzt%2Fcampaign%2FMiYTa1DE8DwdQk6SGufK%2F4689ba79-7c6c-45f9-b312-2e9ac50986a5?alt=media&token=ad5a1206-744d-4d4f-80b9-d9453a5bafbd" width="95" height="101" data-bit="iit" /></span></p>
<p><br/><span>Exp Commercial of California, Inc.</span><br/><span>CalDRE #02134436 </span><br/><span>Office: (855) 451-1236, ext 300</span><br/><span>Website: <a href="https://www.expcommercial.com/" target="_blank" rel="noopener">www.expcommercial.com</a></span><br/><span>Address: 2603 Camino Ramon, Ste 200, San Ramon, CA 94583</span><br/><span> </span><br/><span>| Commercial Real Estate Brokerage: Multifamily, Retail, Office, Mixed-Use, Industrial, Hospitality, Self-Storage, Land |</span><br/><br/><span><img src="https://ci3.googleusercontent.com/meips/ADKq_NY0_hsRh3zONMFuLDfdVD75jwktAnNfO7pWFgz66qzZFc1BFCZlJKiNIU5Xw0rbhcviFKjkpjQvzb3MNSo6sr3PBfElGc05_stxlG--OYZrcDmdeXwSCB9qIiM0vjMYWUmmagI2cIid3XKV9O9YkzXnz-FNpmqzwoD7vdW8BGy_TPGLMApi7y5SG7ketzhMcQ2Nb0X_XeXtZFyGnALiEXfaSdwx776Kj3onKz4WHX2iDMlgg9m5bumMzn9d-E99C4-jhZCYkBdayZ9CEpi_fJeauc7SwMQOyqrrZdrhpK3UhjeYiJCYOHaiPsvP9EOf6Bt973JGPQRY-9XWyvDF2v4=s0-d-e1-ft#%3Ca%20href="/>https://firebasestorage.googleapis.com/v0/b/highlevel-backend.appspot.com/o/location%2FjsbVi8ljfyPfXWknAuzt%2Fcampaign%2FMiYTa1DE8DwdQk6SGufK%2Ff219fb1e-f675-4c16-9e54-d10a0df39586?alt=media&token=4b5ba198-14d4-41ca-9d5b-d0eac5be0724" width="117" height="61" data-bit="iit" /> <img src="https://ci3.googleusercontent.com/meips/ADKq_NaPmRRoRxXcnNeQJCyt3azCjp0yH-m5Z_TmMxNgfoWjx5F4rnDWoidoonCN8EG6JtT1BsLZ1Y07qTT5YoSCeVkDT9xeWj_Y_2W0Z0DjLU_SozzJ0uPj-QEtSuBVLVvDOkBlCSt_OwkvVF2lRNZHOU8o8-PyTEyHZCbgjSqNIdqczgkHuXn-pJvgBjS4P5nFMRhIyfxHKK4KLM7gPvvECO_Il4gfTrGRW2WK4VH8HjcoVmmTKzajws252JbQumEcg1Zb7eT2c5Nl2vpEM4a0zubxPkQTy8C6Tra1NNqODHxCFP0lyquTjblPnUdaAxH6UKhqaKKZiR38mS--0kRiJ20=s0-d-e1-ft#%3Ca%20href="/>https://firebasestorage.googleapis.com/v0/b/highlevel-backend.appspot.com/o/location%2FjsbVi8ljfyPfXWknAuzt%2Fcampaign%2FMiYTa1DE8DwdQk6SGufK%2Fbc43c720-7734-4623-a126-34bda4d38455?alt=media&token=286e9bad-7619-45d9-86bb-a1b1b4eb4fb9" width="253" height="63" data-bit="iit" /></span></p>
</div>
</div>
</div>USA National Hospitality Market Report as of March 10, 2024tag:realestatefinance.ning.com,2024-03-11:6517464:BlogPost:4981602024-03-11T02:13:14.000ZManuel Angeleshttps://realestatefinance.ning.com/profile/ManuelAngeles661
<div class="featured-image"><img alt="H1.png" src="https://activerain-store.s3.amazonaws.com/blog_entries/646/5833646/original/H1.png?1710112266"></img></div>
<div class="blog-content style-reset-for-user-content user-content"><p>Greetings,</p>
<p>Here is an update on the current <span><strong>National Commercial Hospitality Real Estate Market in The United States of America</strong></span><span> </span>as of<span> </span><span><strong>March 10, 2024</strong></span>:</p>
<p>To no one's surprise,<span> </span><strong>trading volume in 2023 decreased by over 50% year over year</strong>. As higher interest…</p>
</div>
<div class="featured-image"><img alt="H1.png" src="https://activerain-store.s3.amazonaws.com/blog_entries/646/5833646/original/H1.png?1710112266"/></div>
<div class="blog-content style-reset-for-user-content user-content"><p>Greetings,</p>
<p>Here is an update on the current <span><strong>National Commercial Hospitality Real Estate Market in The United States of America</strong></span><span> </span>as of<span> </span><span><strong>March 10, 2024</strong></span>:</p>
<p>To no one's surprise,<span> </span><strong>trading volume in 2023 decreased by over 50% year over year</strong>. As higher interest rates keep deal underwriting difficult, the bid-ask spread continues to be elevated. Owners with strong operating histories encountered buyers looking for distress, and neither side was willing to give. Now that the Fed has signaled rate cuts in 2024, the expectation is that deal flow will increase again in the second half of the year. The impact of the Fed's action will likely be not only on interest rates but also on spreads, which in turn will restart activity up and down the debt capital stack.</p>
<p><strong>Hotel cap rate forecasts have been inching higher</strong>. Part of the calculus was the contraction in cap rate premiums over cap rates observed in the office sector. Historically, hotel cap rates were 100 to 150 basis points higher than office cap rates. In the most recent past, this margin continued to contract, and the forecast is that office cap rates will rise, and that hotel cap rates, although higher as well, will have a smaller delta over office cap rates, down to sub-100 basis points.</p>
<p>Despite lower trading volume,<span> </span><strong>luxury class deals and deals in major markets are getting done</strong>. Ryman Hospitality Properties bought the 1,000-room J.W. Marriott resort in San Antonio to add to its stable of meeting-oriented hotels for $800 million. Blackstone was able to transact this property at a profit of over $120 million. Early in 2024, Blackstone was also able to sell the Arizona Biltmore to a UK-based fund for over $1 million/key.</p>
<p>These deals signify that,<span> </span><strong>for motivated buyers, financing costs are not as important a consideration as the location</strong><span> </span>or a strategic rationale to own a property in a preferred market.</p>
<p><strong>Borrowers of two high-profile portfolios decided to stop supporting their loans</strong>, so industry participants are assessing the likelihood of these properties trading. Park Hotels and Resorts decided to stop debt payments on their two-hotel, 3,000-room, portfolio in San Francisco, the Parc 55, and the Hilton San Francisco Union Square. Subsequently, Morningstar decreased the value of these properties in their calculations by roughly $1 billion, from $1.5 billion in 2019 to $475 million today. And Ashford Hospitality decided to hand back the keys to a 19-hotel portfolio to the lender.</p>
<p><strong>The transaction outlook for 2024 is constructive</strong>, with investors eager to get in on a commercial real estate sector that is poised for more growth.</p>
<p> </p>
<p>Here are several graphs illustrating the current national commercial hospitality market in The United States of America:</p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/H2.png" width="706" height="510"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/H3.png" width="704" height="265"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/H4.png" width="710" height="515"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/H5.png" width="710" height="372"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/H6.png" width="703" height="373"/></p>
<p> </p>
<p>Full Commercial Hospitality Market Report Here:<span> </span><a href="https://d2saw6je89goi1.cloudfront.net/uploads/digital_asset/file/1189854/United_States-Hospitality-Capital_National-2024-03-10_a.pdf" target="_blank" rel="noopener">https://d2saw6je89goi1.cloudfront.net/uploads/digital_asset/file/1189854/United_States-Hospitality-Capital_National-2024-03-10_a.pdf</a> </p>
<p><span>Access Exclusive Commercial Real Estate Market Reports in The United States Here: <a href="https://www.manuelangeles.com/" target="_blank" rel="noopener">https://www.manuelangeles.com/</a> </span></p>
<p>Contact me for a complimentary market analysis and valuation report for your commercial property, along with up-to-date commercial real estate listings (on-market and off-market):<span> </span><a href="https://api.leadconnectorhq.com/widget/bookings/maexp" target="_blank" rel="noopener">https://api.leadconnectorhq.com/widget/bookings/maexp</a> </p>
<p>Thank you.</p>
<p>--</p>
<p>Best Regards,</p>
<p>Manuel Angeles<br/>Broker Associate<br/>CalDRE #01985856<br/>Mobile: (323) 900-5258<br/>Email: <a href="mailto:manuel.angeles@expcommercial.com" target="_blank" rel="noopener">manuel.angeles@expcommercial.com</a><br/>Website: <a href="https://www.manuelangeles.com/" target="_blank" rel="noopener">www.manuelangeles.com</a><br/>Address: 155 N. Lake Avenue, 8th Floor, Pasadena 91101</p>
<p><img src="https://ci3.googleusercontent.com/meips/ADKq_NahLjJufrQmiMhwHiqGQrCKku3kK7j-ZE1KDBNjskUE6pvfivAs8ESRapTCBHzJRPQ0R25tRPM1pknqGth6md1r5AzGeauBDKl9AXPVMb5jK8d2fiXBn_fWHRW3fxFChiF1Gf9xLvPAotDo5aIj_jorkxcjfgWljWzY3pkjdBGXCdeZg4iiE1WppzC6A-tMt1wY685E7OBBWCIgiAUMqQlPTDvQ9p5eSfG9whx6i_s2Ymo51cnmCChBg9wk0KThwpCn5jI8Gv8pUkp4h3DbYhBaJIi5ft4GCvgDP5bzZrhiL6ZFNFxg3Och4M6Z0A0IYZug_Zf36kXiDixxCK9Yv7A=s0-d-e1-ft#%3Ca%20href="/>https://firebasestorage.googleapis.com/v0/b/highlevel-backend.appspot.com/o/location%2FjsbVi8ljfyPfXWknAuzt%2Fcampaign%2FMiYTa1DE8DwdQk6SGufK%2F4689ba79-7c6c-45f9-b312-2e9ac50986a5?alt=media&token=ad5a1206-744d-4d4f-80b9-d9453a5bafbd" width="95" height="101" data-bit="iit" /></p>
<p>Exp Commercial of California, Inc.<br/>CalDRE #02134436 <br/>Office: (855) 451-1236, ext 300<br/>Website: <a href="https://www.expcommercial.com/" target="_blank" rel="noopener">www.expcommercial.com</a><br/>Address: 2603 Camino Ramon, Ste 200, San Ramon, CA 94583<br/> <br/>| Commercial Real Estate Brokerage: Multifamily, Retail, Office, Mixed-Use, Industrial, Hospitality, Self-Storage, Land |<br/><img src="https://ci3.googleusercontent.com/meips/ADKq_NY0_hsRh3zONMFuLDfdVD75jwktAnNfO7pWFgz66qzZFc1BFCZlJKiNIU5Xw0rbhcviFKjkpjQvzb3MNSo6sr3PBfElGc05_stxlG--OYZrcDmdeXwSCB9qIiM0vjMYWUmmagI2cIid3XKV9O9YkzXnz-FNpmqzwoD7vdW8BGy_TPGLMApi7y5SG7ketzhMcQ2Nb0X_XeXtZFyGnALiEXfaSdwx776Kj3onKz4WHX2iDMlgg9m5bumMzn9d-E99C4-jhZCYkBdayZ9CEpi_fJeauc7SwMQOyqrrZdrhpK3UhjeYiJCYOHaiPsvP9EOf6Bt973JGPQRY-9XWyvDF2v4=s0-d-e1-ft#%3Ca%20href="/>https://firebasestorage.googleapis.com/v0/b/highlevel-backend.appspot.com/o/location%2FjsbVi8ljfyPfXWknAuzt%2Fcampaign%2FMiYTa1DE8DwdQk6SGufK%2Ff219fb1e-f675-4c16-9e54-d10a0df39586?alt=media&token=4b5ba198-14d4-41ca-9d5b-d0eac5be0724" width="117" height="61" data-bit="iit" /> <img src="https://ci3.googleusercontent.com/meips/ADKq_NaPmRRoRxXcnNeQJCyt3azCjp0yH-m5Z_TmMxNgfoWjx5F4rnDWoidoonCN8EG6JtT1BsLZ1Y07qTT5YoSCeVkDT9xeWj_Y_2W0Z0DjLU_SozzJ0uPj-QEtSuBVLVvDOkBlCSt_OwkvVF2lRNZHOU8o8-PyTEyHZCbgjSqNIdqczgkHuXn-pJvgBjS4P5nFMRhIyfxHKK4KLM7gPvvECO_Il4gfTrGRW2WK4VH8HjcoVmmTKzajws252JbQumEcg1Zb7eT2c5Nl2vpEM4a0zubxPkQTy8C6Tra1NNqODHxCFP0lyquTjblPnUdaAxH6UKhqaKKZiR38mS--0kRiJ20=s0-d-e1-ft#%3Ca%20href="/>https://firebasestorage.googleapis.com/v0/b/highlevel-backend.appspot.com/o/location%2FjsbVi8ljfyPfXWknAuzt%2Fcampaign%2FMiYTa1DE8DwdQk6SGufK%2Fbc43c720-7734-4623-a126-34bda4d38455?alt=media&token=286e9bad-7619-45d9-86bb-a1b1b4eb4fb9" width="253" height="63" data-bit="iit" /></p>
</div>Jumbo Multifamily? Big Commercial? Our Funding Sources are ready NOW!tag:realestatefinance.ning.com,2024-03-11:6517464:BlogPost:4983302024-03-11T01:53:12.000ZDr Ghttps://realestatefinance.ning.com/profile/DrG
<p><a href="https://storage.ning.com/topology/rest/1.0/file/get/12398112282?profile=original" target="_blank" rel="noopener"><img src="https://storage.ning.com/topology/rest/1.0/file/get/12398112282?profile=RESIZE_710x" class="align-center"/></a></p>
<p><a href="https://storage.ning.com/topology/rest/1.0/file/get/12398112282?profile=original" target="_blank" rel="noopener"><img src="https://storage.ning.com/topology/rest/1.0/file/get/12398112282?profile=RESIZE_710x" class="align-center"/></a></p>USA National Multifamily Market Report as of January 15, 2024tag:realestatefinance.ning.com,2024-03-10:6517464:BlogPost:4985222024-03-10T04:00:00.000ZManuel Angeleshttps://realestatefinance.ning.com/profile/ManuelAngeles661
<div class="card-content"><div class="blog-content style-reset-for-user-content user-content"><p>Greetings,</p>
<p>This is Manuel Angeles with Exp Commercial.</p>
<p>Here is an update on the current <span><strong>National Commercial Multifamily Real Estate Market in The United States of America</strong></span>:</p>
<p><strong>Multifamily investment activity dipped below $100 billion in 2023 for the first time since 2014</strong>. After peaking in the second quarter of 2022 at $316 billion,…</p>
</div>
</div>
<div class="card-content"><div class="blog-content style-reset-for-user-content user-content"><p>Greetings,</p>
<p>This is Manuel Angeles with Exp Commercial.</p>
<p>Here is an update on the current <span><strong>National Commercial Multifamily Real Estate Market in The United States of America</strong></span>:</p>
<p><strong>Multifamily investment activity dipped below $100 billion in 2023 for the first time since 2014</strong>. After peaking in the second quarter of 2022 at $316 billion, trailing 12-month transaction volume finished the year close to 70% off the recent highs.</p>
<p>As interest rate volatility whipsawed the capital markets last year, a noticeable shift in buying patterns saw investors move up the quality spectrum. The reason for the upward reach is at least twofold.<span> </span><strong>The first is the opportunity to acquire high-quality assets that are marked down over 20% compared to peak pricing in the first quarter of 2022</strong>. The second is a growing desire to manage risk through owning better-quality assets where unexpected capital expenses are less likely. In the 3- Star property segment, price declines were less pronounced, falling about 15% from the peak where deals once traded for approximately $210,000 per door.</p>
<p>In addition to asset quality,<span> </span><strong>investors adapted their approaches to stay ahead of rent growth, leading to noticeable shifts in sales volume rankings</strong>. The buying frenzy of the second quarter of 2022 propelled national transaction activity, with cities like Atlanta, Phoenix, New York City, Los Angeles, and Washington, D.C., taking the lead. However, subsequent increases in interest rates caused a substantial reshuffling, reestablishing New York and Los Angeles as the dominant players. Meanwhile, previously thriving markets like Atlanta and Phoenix experienced decreased transaction volumes due to the steady influx of new supply and stagnant rent growth.</p>
<p>In the aftermath of the pandemic,<span> </span><strong>institutional capital was in the spotlight</strong>, surpassing private-buyer activity as they outmatched lesser-known names while competing in the same arena. Yet, as interest rates rose, institutional capital took a breather, which allowed private buyers to gain market share in 2023.</p>
<p>Pricing trends have also experienced discernible changes.<span> </span><strong>Loan-to-value (LTV) ratios, once commonly found at 70%-80% with 3%-3.5% interest rates, have now slipped to around 55%-65% LTV with high-5% to mid-6% interest rates</strong>. Therefore, sellers increasingly offer debt assumptions to preserve disposition targets and supply greater financing certainty to their buyers.</p>
<p><strong>As property values decline, rising yield requirements are diffusing across assets of varying quality and vintages</strong>. These spreads were flattened during the buying spree in 2021 but are re-emerging with rising uncertainty. Currently, cap rates for many 4 & 5 Star assets fluctuate in the mid-5% range, while 3-Star assets have broadly climbed toward 6%. Older, less luxurious assets are now pushing north of the 6% threshold.</p>
<p>With a significant stake in the $4.5 trillion commercial real estate mortgage debt,<span> </span><strong>the multifamily sector anticipates a modest increase in loan maturities this year, with obligations of $255 billion and $243 billion in 2024 and 2025, respectively</strong>. Remarkably, despite these ongoing shifts, delinquency rates remain low on a relative basis when compared to the office, retail, and hospitality sectors.</p>
<p><strong>Although factors such as declining household formations, rising supply deliveries, and weakening demand may present temporary obstacles, the sector has successfully emerged from similar challenges in the past</strong>. The ability to adapt and evolve reinforces its continued importance in the commercial real estate landscape, emphasizing the significance of a mindful strategy to navigate these ongoing shifts.<br/></p>
<p>Here are several graphs illustrating the current national commercial multifamily market in The United States of America:</p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/Multifamily+1+1.15.2024.png" width="926" height="348"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/Multifamily+1.15.2024.png" width="929" height="662"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/Multifamily+3+1.15.2024.png" width="928" height="472"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/Multifamily+4+1.15.2024.png" width="929" height="473"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/Multifamily+5+1.15.2024.png" width="924" height="509"/></p>
<p><strong>Full Commercial Multifamily Market Report Here:</strong><span> </span><a href="https://d2saw6je89goi1.cloudfront.net/uploads/digital_asset/file/1183589/United_States-MultiFamily-Capital_National-2024-01-15_compressed.pdf" target="_blank" rel="noopener">https://d2saw6je89goi1.cloudfront.net/uploads/digital_asset/file/1183589/United_States-MultiFamily-Capital_National-2024-01-15_compressed.pdf</a> </p>
<p> </p>
<p><strong>Access Exclusive Commercial Real Estate Market Reports in The United States Here:<span> </span></strong><a href="http://usacre.manuelangeles.com/" target="_blank" rel="noopener">http://usacre.manuelangeles.com/</a></p>
<p><br/> Please contact me for:</p>
<ul>
<li>Any questions, comments, or concerns regarding the commercial real estate market in The United States</li>
<li>Markets reports in specific county for multifamily, retail, office, industrial, or hospitality properties</li>
<li>Complimentary market analysis and valuation reports for your commercial property</li>
<li>Up-to-date current commercial real estate listings (on-market and off-market)</li>
</ul>
<p><br/> Schedule a time for a call or meeting with me <a href="https://api.leadconnectorhq.com/widget/bookings/maexp" target="_blank" rel="noopener">here</a>. <br/> We are here to assist you in achieving your commercial real estate investment goals and maximizing your return on investment and equity.<br/> I wish for you and your family a Peaceful & Prosperous 2024.<br/> Please let me know how I can be of service.<br/> Thank you.<br/></p>
<p>--</p>
<p>Best Regards,</p>
<p>Manuel Angeles<br/> Broker Associate<br/> CalDRE #01985856<br/> Mobile: (323) 900-5258<br/> Email: <a href="mailto:manuel.angeles@expcommercial.com" target="_blank" rel="noopener">manuel.angeles@expcommercial.com</a><br/> Website: <a href="https://www.manuelangeles.com/" target="_blank" rel="noopener">www.manuelangeles.com</a><br/> Address: 155 N. Lake Avenue, 8th Floor, Pasadena 91101</p>
<p><img src="https://ci3.googleusercontent.com/meips/ADKq_NahLjJufrQmiMhwHiqGQrCKku3kK7j-ZE1KDBNjskUE6pvfivAs8ESRapTCBHzJRPQ0R25tRPM1pknqGth6md1r5AzGeauBDKl9AXPVMb5jK8d2fiXBn_fWHRW3fxFChiF1Gf9xLvPAotDo5aIj_jorkxcjfgWljWzY3pkjdBGXCdeZg4iiE1WppzC6A-tMt1wY685E7OBBWCIgiAUMqQlPTDvQ9p5eSfG9whx6i_s2Ymo51cnmCChBg9wk0KThwpCn5jI8Gv8pUkp4h3DbYhBaJIi5ft4GCvgDP5bzZrhiL6ZFNFxg3Och4M6Z0A0IYZug_Zf36kXiDixxCK9Yv7A=s0-d-e1-ft#%3Ca%20href="/></p>
<p><br/> Exp Commercial of California, Inc.<br/> CalDRE #02134436 <br/> Office: (855) 451-1236, ext 300<br/> Website: <a href="https://www.expcommercial.com/" target="_blank" rel="noopener">www.expcommercial.com</a><br/> Address: 2603 Camino Ramon, Ste 200, San Ramon, CA 94583<br/> <br/> | Commercial Real Estate Brokerage: Multifamily, Retail, Office, Mixed-Use, Industrial, Hospitality, Self-Storage, Land |<br/> <br/> <img src="https://ci3.googleusercontent.com/meips/ADKq_NY0_hsRh3zONMFuLDfdVD75jwktAnNfO7pWFgz66qzZFc1BFCZlJKiNIU5Xw0rbhcviFKjkpjQvzb3MNSo6sr3PBfElGc05_stxlG--OYZrcDmdeXwSCB9qIiM0vjMYWUmmagI2cIid3XKV9O9YkzXnz-FNpmqzwoD7vdW8BGy_TPGLMApi7y5SG7ketzhMcQ2Nb0X_XeXtZFyGnALiEXfaSdwx776Kj3onKz4WHX2iDMlgg9m5bumMzn9d-E99C4-jhZCYkBdayZ9CEpi_fJeauc7SwMQOyqrrZdrhpK3UhjeYiJCYOHaiPsvP9EOf6Bt973JGPQRY-9XWyvDF2v4=s0-d-e1-ft#%3Ca%20href=" width="194" height="101"/> <img src="https://ci3.googleusercontent.com/meips/ADKq_NaPmRRoRxXcnNeQJCyt3azCjp0yH-m5Z_TmMxNgfoWjx5F4rnDWoidoonCN8EG6JtT1BsLZ1Y07qTT5YoSCeVkDT9xeWj_Y_2W0Z0DjLU_SozzJ0uPj-QEtSuBVLVvDOkBlCSt_OwkvVF2lRNZHOU8o8-PyTEyHZCbgjSqNIdqczgkHuXn-pJvgBjS4P5nFMRhIyfxHKK4KLM7gPvvECO_Il4gfTrGRW2WK4VH8HjcoVmmTKzajws252JbQumEcg1Zb7eT2c5Nl2vpEM4a0zubxPkQTy8C6Tra1NNqODHxCFP0lyquTjblPnUdaAxH6UKhqaKKZiR38mS--0kRiJ20=s0-d-e1-ft#%3Ca%20href=" width="425" height="106"/></p>
</div>
</div>
<div class="card-content article-details-section"><div class="article-user-actions"><div class="left-actions"><div class="likes-holder regular"></div>
</div>
</div>
</div>USA National Office Market Report as of January 15, 2024tag:realestatefinance.ning.com,2024-03-10:6517464:BlogPost:4984382024-03-10T04:00:00.000ZManuel Angeleshttps://realestatefinance.ning.com/profile/ManuelAngeles661
<div class="card-content"><div class="blog-content style-reset-for-user-content user-content"><div><div><p>Greetings,</p>
<p>This is Manuel Angeles with Exp Commercial.</p>
<p>Here is an update on the current <span><strong>National Commercial Office Real Estate Market in The United States of America</strong></span>:</p>
<p><strong>The office sector's challenges continue to be pronounced, with increasing vacancies, heightened tenant improvement costs and waning rent growth tempering investor…</strong></p>
</div>
</div>
</div>
</div>
<div class="card-content"><div class="blog-content style-reset-for-user-content user-content"><div><div><p>Greetings,</p>
<p>This is Manuel Angeles with Exp Commercial.</p>
<p>Here is an update on the current <span><strong>National Commercial Office Real Estate Market in The United States of America</strong></span>:</p>
<p><strong>The office sector's challenges continue to be pronounced, with increasing vacancies, heightened tenant improvement costs and waning rent growth tempering investor interest</strong>. Initial estimates of transaction volume in 2023 suggest that a little less than $35 billion traded hands last year, a level reminiscent of the post-Global Financial Crisis recovery.</p>
<p><strong>As quarterly sales volumes have dipped below the pandemic's lowest points</strong>, 2023 sales volumes fell nearly 60% below 2022 levels, mirroring figures from 2010. Typically, the fourth quarter concludes each year with a surge in transaction activity. Yet, the final quarter of 2023 drug in an unremarkable print with the lowest total since 2009.</p>
<p><strong>The decline in larger deals has reshaped the most active buyer profile</strong>. Traditionally, institutional and REIT investors have been responsible for around 40% of acquisitions, while private buyers have accounted for a similar share. However, private buyers have now stepped to the fore, representing about half of all purchases today.</p>
<p><strong>Transparency in price discovery is improving, and there is an emergent shift in investor sentiment</strong>. A select minority now appears more willing to embrace lease-up risks when the associated seller discounts are notably significant. Illustrating this trend, Reliance Management bought Gainey Center II in Scottsdale, Arizona, for $175/SF ($26.5 million) from a joint venture between Goldman Sachs and Lincoln Property Company. To provide context, this property traded at $334/SF ($50.6 million) shortly before the Global Financial Crisis commenced in 2007.</p>
<p>In another instance, Hempel purchased a distressed note for the 30-story LaSalle Plaza in Minneapolis from Northwestern Mutual Life at $74/SF ($46 million), which reflects a 50% plunge from its 2006 valuation.</p>
<p>For investors unwilling to step in at today's multi-tenant prices, there's a trend among conservative buyers towards single-tenant properties to offset near-term rollover risks. Highlighting this, The Herrick Company acquired the Huntington Tower in Midtown Detroit at $356/SF ($150 million) with a 5.5% going-in yield. A stable and appreciating revenue stream backs this investment in new construction with a 22-year NNN lease with Huntington Bank.</p>
<p><strong>Regarding cap rates, single-tenant properties with credit and long-term lease durations can still register cap rates between the upper 5% and 6% range</strong>. However, as investors pivot from high-risk assets, which typically involve properties of lower quality and older construction, multi-tenant properties are experiencing the exponential effects of rising uncertainty.</p>
<p>Specifically, since the cap rate lows of 2021,<span> </span><strong>new Class A properties with strong credit and term have seen yields rise by approximately 150-200 basis points</strong>, Class B properties by 200-250 basis points, and Class C properties or those facing occupancy and geographic challenges by as much as 300 basis points.</p>
<p>Going-in yields for the reduced volume of multi-tenant office transactions, excluding medical offices, have risen by over 200 basis points in the aggregate and are generally in the upper single-digits with pricing typically landing in the low $200s/SF territory.</p>
<p><strong>On a look-forward basis, debt maturities present potential challenges for 2024</strong>. Around $117 billion in office loans will mature this year and another $100 billion in 2025. With delinquency rates climbing by 5.8 percentage points since December 2022, now at 7.2%, there's a possibility these could return to post-GFC levels in the next several quarters. Given rising debt costs, decreasing loan proceeds, and unpredictable demand, upcoming loan maturities will indeed test the market's resilience. However, as asset valuations come further into focus, the vast pool of capital remaining in the sector should present strategic opportunities for informed investors.</p>
<p> </p>
<p>Here are several graphs illustrating the current national commercial office market in The United States of America:</p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/Office+1+1.15.2024.png" width="924" height="660"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/Office+2+1.15.2024.png" width="925" height="349"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/Office+3+1.15.2024.png" width="926" height="471"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/Office+4+1.15.2024.png" width="928" height="473"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/Office+5+1.15.2024.png" width="924" height="481"/></p>
<p><span><strong>Full Commercial Office Market Report Here:</strong></span><span> </span><a href="https://d2saw6je89goi1.cloudfront.net/uploads/digital_asset/file/1183588/United_States-Office-Capital_National-2024-01-15_compressed.pdf" target="_blank" rel="noopener">https://d2saw6je89goi1.cloudfront.net/uploads/digital_asset/file/1183588/United_States-Office-Capital_National-2024-01-15_compressed.pdf</a> </p>
<p> </p>
<p><strong>Access Exclusive Commercial Real Estate Market Reports in The United States Here:<span> </span></strong><a href="http://usacre.manuelangeles.com/" target="_blank" rel="noopener">http://usacre.manuelangeles.com/</a></p>
<p><br/> Please contact me for:</p>
<ul>
<li>Any questions, comments, or concerns regarding the commercial real estate market in The United States</li>
<li>Markets reports in specific county for multifamily, retail, office, industrial, or hospitality properties</li>
<li>Complimentary market analysis and valuation reports for your commercial property</li>
<li>Up-to-date current commercial real estate listings (on-market and off-market)</li>
</ul>
<p><br/> Schedule a time for a call or meeting with me <a href="https://api.leadconnectorhq.com/widget/bookings/maexp" target="_blank" rel="noopener">here</a>. <br/> We are here to assist you in achieving your commercial real estate investment goals and maximizing your return on investment and equity.<br/> I wish for you and your family a Peaceful & Prosperous 2024.<br/> Please let me know how I can be of service.<br/> Thank you.</p>
<p>--</p>
<p>Best Regards,</p>
<p>Manuel Angeles<br/> Broker Associate<br/> CalDRE #01985856<br/> Mobile: (323) 900-5258<br/> Email: <a href="mailto:manuel.angeles@expcommercial.com" target="_blank" rel="noopener">manuel.angeles@expcommercial.com</a><br/> Website: <a href="https://www.manuelangeles.com/" target="_blank" rel="noopener">www.manuelangeles.com</a><br/> Address: 155 N. Lake Avenue, 8th Floor, Pasadena 91101</p>
<p><img src="https://ci3.googleusercontent.com/meips/ADKq_NahLjJufrQmiMhwHiqGQrCKku3kK7j-ZE1KDBNjskUE6pvfivAs8ESRapTCBHzJRPQ0R25tRPM1pknqGth6md1r5AzGeauBDKl9AXPVMb5jK8d2fiXBn_fWHRW3fxFChiF1Gf9xLvPAotDo5aIj_jorkxcjfgWljWzY3pkjdBGXCdeZg4iiE1WppzC6A-tMt1wY685E7OBBWCIgiAUMqQlPTDvQ9p5eSfG9whx6i_s2Ymo51cnmCChBg9wk0KThwpCn5jI8Gv8pUkp4h3DbYhBaJIi5ft4GCvgDP5bzZrhiL6ZFNFxg3Och4M6Z0A0IYZug_Zf36kXiDixxCK9Yv7A=s0-d-e1-ft#%3Ca%20href="/></p>
<p><br/> Exp Commercial of California, Inc.<br/> CalDRE #02134436 <br/> Office: (855) 451-1236, ext 300<br/> Website: <a href="https://www.expcommercial.com/" target="_blank" rel="noopener">www.expcommercial.com</a><br/> Address: 2603 Camino Ramon, Ste 200, San Ramon, CA 94583<br/> <br/> | Commercial Real Estate Brokerage: Multifamily, Retail, Office, Mixed-Use, Industrial, Hospitality, Self-Storage, Land |<br/> <br/> <img src="https://ci3.googleusercontent.com/meips/ADKq_NY0_hsRh3zONMFuLDfdVD75jwktAnNfO7pWFgz66qzZFc1BFCZlJKiNIU5Xw0rbhcviFKjkpjQvzb3MNSo6sr3PBfElGc05_stxlG--OYZrcDmdeXwSCB9qIiM0vjMYWUmmagI2cIid3XKV9O9YkzXnz-FNpmqzwoD7vdW8BGy_TPGLMApi7y5SG7ketzhMcQ2Nb0X_XeXtZFyGnALiEXfaSdwx776Kj3onKz4WHX2iDMlgg9m5bumMzn9d-E99C4-jhZCYkBdayZ9CEpi_fJeauc7SwMQOyqrrZdrhpK3UhjeYiJCYOHaiPsvP9EOf6Bt973JGPQRY-9XWyvDF2v4=s0-d-e1-ft#%3Ca%20href=" width="194" height="101"/> <img src="https://ci3.googleusercontent.com/meips/ADKq_NaPmRRoRxXcnNeQJCyt3azCjp0yH-m5Z_TmMxNgfoWjx5F4rnDWoidoonCN8EG6JtT1BsLZ1Y07qTT5YoSCeVkDT9xeWj_Y_2W0Z0DjLU_SozzJ0uPj-QEtSuBVLVvDOkBlCSt_OwkvVF2lRNZHOU8o8-PyTEyHZCbgjSqNIdqczgkHuXn-pJvgBjS4P5nFMRhIyfxHKK4KLM7gPvvECO_Il4gfTrGRW2WK4VH8HjcoVmmTKzajws252JbQumEcg1Zb7eT2c5Nl2vpEM4a0zubxPkQTy8C6Tra1NNqODHxCFP0lyquTjblPnUdaAxH6UKhqaKKZiR38mS--0kRiJ20=s0-d-e1-ft#%3Ca%20href=" width="417" height="104"/></p>
</div>
</div>
</div>
</div>
<div class="card-content article-details-section"><div class="article-user-actions"><div class="left-actions"></div>
</div>
</div>Los Angeles Commercial Hospitality Market Report as of January 15, 2024tag:realestatefinance.ning.com,2024-03-10:6517464:BlogPost:4984362024-03-10T04:00:00.000ZManuel Angeleshttps://realestatefinance.ning.com/profile/ManuelAngeles661
<div><p>Greetings,</p>
<p>This is Manuel Angeles with Exp Commercial.</p>
<p>Here is an update on the current<span> </span><span><strong>Commercial Hospitality Real Estate Market in Los Angeles County</strong></span>:</p>
<p><strong>In 2023, only four of approximately 30 hotel transactions in the Los Angeles market were above $20 million</strong>, three of which occurred in the third quarter. In April, a new transfer tax on residential and commercial real property went into effect, potentially…</p>
</div>
<div><p>Greetings,</p>
<p>This is Manuel Angeles with Exp Commercial.</p>
<p>Here is an update on the current<span> </span><span><strong>Commercial Hospitality Real Estate Market in Los Angeles County</strong></span>:</p>
<p><strong>In 2023, only four of approximately 30 hotel transactions in the Los Angeles market were above $20 million</strong>, three of which occurred in the third quarter. In April, a new transfer tax on residential and commercial real property went into effect, potentially impacting hotel values. Since the transfer tax took effect, only four hotels have traded in the city of Los Angeles. Three are slated for conversion and were exempt from the "Mansion Tax", and the other sold for less than $3 million. The "Mansion Tax," officially the "Homelessness and Housing Solutions Tax," means that if a sale amount exceeds $10 million, it will be subject to an additional tax rate of 5.5%.</p>
<p><strong>The new tax law, higher interest rates, increased housekeeping wages, and the largest union strike in history in SoCal have impacted investment activity in the market</strong>. Additionally, investors and developers could have been hesitant to move forward on hotel investment in the city of Los Angeles due to the "Responsible Hotel Ordinance" being on the March 2024 ballot, which would have required hotels to allow the city's homeless agencies to send individuals or families to empty hotel rooms. The measure was withdrawn in December and will not be on the ballot. LA City Council approved a compromise ordinance impacting developers more than owners.</p>
<p>Other hotels outside the city limits of Los Angeles have traded since April; however, investment activity is still muted, and most of the hotels that sold in 2023 were Economy class hotels or part of larger national portfolio transactions. This is in line with the national commercial real estate investment slowdown. In the past 12 months, hotel sales volume was approximately $383 million. Apart from 2020, the annual hotel investment volume has exceeded $1 billion each year since 2014.</p>
<p><strong>The high-priced tax-exempt transaction included hotels slated for conversion</strong>. In September, the Housing Authority of the City of Los Angeles sold the 133-room Extended Stay America LAX Airport to American Family Housing, Inc. for $50.7 million, or $381,120/key.</p>
<p>In August, ICO Investment Group sold the 294-room Mayfair Hotel to the City of Los Angeles for $60.3 million, or $204,923/key. The previous owner purchased the hotel in 2012 for an undisclosed price. The city of Los Angeles plans to convert the hotel as part of the Inside Safe initiative, which is a housing-focused solution to combating homelessness. The city plans to complete renovations for approximately $19 million and spend roughly $4 million toward project oversight, resulting in an estimated total spend of $83 million. The city hopes to reopen the Mayfair in February.</p>
<p>Still,<span> </span><strong>hotel investment activity could shift, and more discounted or distressed deals could transpire due to CMBS debt maturing in approximately 50 hotels in the next two years</strong>.</p>
<p> </p>
<p>Here are several graphs illustrating the current hospitality market in Los Angeles County:</p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/LA+Hospitality+1+1.15.2024.png" width="928" height="665"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/LA+Hospitality+2+1.15.2024.png" width="926" height="357"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/LA+Hospitality+3+1.15.2024.png" width="926" height="672"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/LA+Hospitality+4+1.15.2024.png" width="927" height="480"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/LA+Hospitality+5+1.15.2024.png" width="928" height="494"/></p>
<p><strong><br/> Full Los Angeles County Commercial Hospitality Market Report Here</strong>:<span> </span><a href="https://d2saw6je89goi1.cloudfront.net/uploads/digital_asset/file/1183591/Los_Angeles_-_CA_-USA-Hospitality-Capital_Market-2024-01-15_compressed.pdf" target="_blank" rel="noopener">https://d2saw6je89goi1.cloudfront.net/uploads/digital_asset/file/1183591/Los_Angeles_-_CA_-USA-Hospitality-Capital_Market-2024-01-15_compressed.pdf</a> </p>
<p> </p>
<p><strong>Access Exclusive Commercial Real Estate Market Reports in Los Angeles County Here:</strong><span> </span><a href="http://lacre.manuelangeles.com/" target="_blank" rel="noopener">http://lacre.manuelangeles.com/</a></p>
<p><br/> Please contact me for:</p>
<ul>
<li>Any questions, comments, or concerns regarding the commercial real estate market in The United States</li>
<li>Markets reports in specific county for multifamily, retail, office, industrial, or hospitality properties</li>
<li>Complimentary market analysis and valuation reports for your commercial property</li>
<li>Up-to-date current commercial real estate listings (on-market and off-market)</li>
</ul>
<p><br/> Schedule a time for a call or meeting with me <a href="https://api.leadconnectorhq.com/widget/bookings/maexp" target="_blank" rel="noopener">here</a>. <br/> We are here to assist you in achieving your commercial real estate investment goals and maximizing your return on investment and equity.<br/> I wish for you and your family a Peaceful & Prosperous 2024.<br/> Please let me know how I can be of service.<br/> Thank you.<br/></p>
<p>--</p>
<p>Best Regards,</p>
<p>Manuel Angeles<br/> Broker Associate<br/> CalDRE #01985856<br/> Mobile: (323) 900-5258<br/> Email: <a href="mailto:manuel.angeles@expcommercial.com" target="_blank" rel="noopener">manuel.angeles@expcommercial.com</a><br/> Website: <a href="https://www.manuelangeles.com/" target="_blank" rel="noopener">www.manuelangeles.com</a><br/> Address: 155 N. Lake Avenue, 8th Floor, Pasadena 91101</p>
<p><img src="https://ci3.googleusercontent.com/meips/ADKq_NahLjJufrQmiMhwHiqGQrCKku3kK7j-ZE1KDBNjskUE6pvfivAs8ESRapTCBHzJRPQ0R25tRPM1pknqGth6md1r5AzGeauBDKl9AXPVMb5jK8d2fiXBn_fWHRW3fxFChiF1Gf9xLvPAotDo5aIj_jorkxcjfgWljWzY3pkjdBGXCdeZg4iiE1WppzC6A-tMt1wY685E7OBBWCIgiAUMqQlPTDvQ9p5eSfG9whx6i_s2Ymo51cnmCChBg9wk0KThwpCn5jI8Gv8pUkp4h3DbYhBaJIi5ft4GCvgDP5bzZrhiL6ZFNFxg3Och4M6Z0A0IYZug_Zf36kXiDixxCK9Yv7A=s0-d-e1-ft#%3Ca%20href="/></p>
<p><br/> Exp Commercial of California, Inc.<br/> CalDRE #02134436 <br/> Office: (855) 451-1236, ext 300<br/> Website: <a href="https://www.expcommercial.com/" target="_blank" rel="noopener">www.expcommercial.com</a><br/> Address: 2603 Camino Ramon, Ste 200, San Ramon, CA 94583<br/> <br/> | Commercial Real Estate Brokerage: Multifamily, Retail, Office, Mixed-Use, Industrial, Hospitality, Self-Storage, Land |<br/> <br/> <img src="https://ci3.googleusercontent.com/meips/ADKq_NY0_hsRh3zONMFuLDfdVD75jwktAnNfO7pWFgz66qzZFc1BFCZlJKiNIU5Xw0rbhcviFKjkpjQvzb3MNSo6sr3PBfElGc05_stxlG--OYZrcDmdeXwSCB9qIiM0vjMYWUmmagI2cIid3XKV9O9YkzXnz-FNpmqzwoD7vdW8BGy_TPGLMApi7y5SG7ketzhMcQ2Nb0X_XeXtZFyGnALiEXfaSdwx776Kj3onKz4WHX2iDMlgg9m5bumMzn9d-E99C4-jhZCYkBdayZ9CEpi_fJeauc7SwMQOyqrrZdrhpK3UhjeYiJCYOHaiPsvP9EOf6Bt973JGPQRY-9XWyvDF2v4=s0-d-e1-ft#%3Ca%20href=" width="208" height="108"/> <img src="https://ci3.googleusercontent.com/meips/ADKq_NaPmRRoRxXcnNeQJCyt3azCjp0yH-m5Z_TmMxNgfoWjx5F4rnDWoidoonCN8EG6JtT1BsLZ1Y07qTT5YoSCeVkDT9xeWj_Y_2W0Z0DjLU_SozzJ0uPj-QEtSuBVLVvDOkBlCSt_OwkvVF2lRNZHOU8o8-PyTEyHZCbgjSqNIdqczgkHuXn-pJvgBjS4P5nFMRhIyfxHKK4KLM7gPvvECO_Il4gfTrGRW2WK4VH8HjcoVmmTKzajws252JbQumEcg1Zb7eT2c5Nl2vpEM4a0zubxPkQTy8C6Tra1NNqODHxCFP0lyquTjblPnUdaAxH6UKhqaKKZiR38mS--0kRiJ20=s0-d-e1-ft#%3Ca%20href=" width="409" height="102"/></p>
</div>USA National Industrial Market Report as of January 15, 2024tag:realestatefinance.ning.com,2024-03-10:6517464:BlogPost:4983272024-03-10T04:00:00.000ZManuel Angeleshttps://realestatefinance.ning.com/profile/ManuelAngeles661
<div><div><p>Greetings,</p>
<p>This is Manuel Angeles with Exp Commercial.</p>
<p>Here is an update on the current <span><strong>National Commercial Industrial Real Estate Market in The United States of America</strong></span>:</p>
<p><strong>Initial estimates of industrial investment activity suggest that a little less than $60 billion exchanged hands in 2023</strong>, approximately 15% below the market's 10-year average. Comparatively, trailing 12-month sales volume peaked in the second…</p>
</div>
</div>
<div><div><p>Greetings,</p>
<p>This is Manuel Angeles with Exp Commercial.</p>
<p>Here is an update on the current <span><strong>National Commercial Industrial Real Estate Market in The United States of America</strong></span>:</p>
<p><strong>Initial estimates of industrial investment activity suggest that a little less than $60 billion exchanged hands in 2023</strong>, approximately 15% below the market's 10-year average. Comparatively, trailing 12-month sales volume peaked in the second quarter of 2022 at $140 billion, but has since fallen close to 60% from the recent highs.</p>
<p><strong>This slowdown highlights the lingering impacts of rising interest rates</strong><span> </span>and the commensurate uncertainty around asset pricing as rent growth has begun to decelerate.</p>
<p>However,<span> </span><strong>private capital remains at the forefront of buying activity</strong>, fueled by a steady tide of fresh entrants to the sector and existing operators' efforts to beef up their portfolios. Not to be left behind, institutional and public REIT investors persist in their pace of acquisitions, homing in on first-class developments and prime locations.</p>
<p><strong>Yields on stabilized industrial investments continue to price in a tight range over treasuries</strong>, which began falling in the fourth quarter due to slowing economic growth and the market's expectations of rate cuts beginning in the first half of 2024.</p>
<p><strong>Properties offering in-place rents substantially below market can still see cap rates in the upper 4% range</strong>, but a growing portion now trades in the low 5% spectrum. These yields were once seen in the low- to mid-3% range before the Federal Reserve's rate hiking campaign began in 2022. By contrast, secondary markets and deals with a restrained mark-to-market opportunity can see pricing in the 5% to 6% band, as investors in these markets are less willing to apply negative leverage beyond the first couple of years. At the top end of cap rates, deal profiles that lack a sizeable rent growth story and rely on bank or CMBS debt can find yields in the 6% and 7% range.</p>
<p>In October, Faropoint purchased two 1970s vintage business parks outside Newark, NJ, from a venture between Camber Real Estate and Advance Realty Partners. The 770,603-square-foot, 10-building portfolio traded for $144.5 million, or $188/SF, at a 6.25% cap rate. The transaction signifies a growing trend of industrial investors acquiring shallow-bay product in established locations to avoid competition with the growing supply of distribution centers hitting the market.</p>
<p>In the same month, Terreno Realty (NYSE: TRNO) acquired a two-tenant, 112,363-square-foot shipment facility in Redondo Beach, CA, from Link Logistics, a subsidiary of Blackstone. The 1968-vintage, 100%- leased project was priced at a 5.3% cap rate, which equated to $45.7 million, or $407/SF. The property is situated immediately west of the 405 freeway north of Manhattan Beach Boulevard, and it checks several boxes for institutional capital as this buyer profile continues to be drawn toward infill locations in coastal markets.</p>
<p>After eight quarters of declining transaction volume,<span> </span><strong>2024 may see an uptick in sales velocity if the 2008-2009 commercial real estate downturn serves as a guide</strong>. During that period, the number of closings fell for seven consecutive quarters before rebounding 74% over the ensuing two years.</p>
<p>Additionally,<span> </span><strong>the $24 billion in maturing CMBS loans this year could stimulate sales activity as the interest rate environment will likely be much different from their rates at origination</strong>. Fortunately, a substantial amount of equity has been built up in recent years, and a near-term maturity may serve as a catalyst for owners to take profits and recycle the capital into new ventures.</p>
<p> </p>
<p>Here are several graphs illustrating the current national commercial industrial market in The United States of America:</p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/1+Industrial+1.15.2024.png" width="925" height="662"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/2+Industrial+1.15.2024.png" width="928" height="348"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/3+Industrial+1.15.2024.png" width="927" height="474"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/4+Industrial+1.15.2024.png" width="922" height="463"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/5+Industrial+1.15.2024.png" width="925" height="493"/></p>
<p><span><strong>Full Commercial Industrial Market Report Here:</strong> <a href="https://d2saw6je89goi1.cloudfront.net/uploads/digital_asset/file/1183587/United_States-Industrial-Capital_National-2024-01-15_compressed.pdf" target="_blank" rel="noopener">https://d2saw6je89goi1.cloudfront.net/uploads/digital_asset/file/1183587/United_States-Industrial-Capital_National-2024-01-15_compressed.pdf</a> </span></p>
<p> </p>
<p><strong>Access Exclusive Commercial Real Estate Market Reports in The United States Here:</strong><span> </span><a href="http://usacre.manuelangeles.com/" target="_blank" rel="noopener">http://usacre.manuelangeles.com/</a></p>
<p><br/> Please contact me for:</p>
<ul>
<li>Any questions, comments, or concerns regarding the commercial real estate market in The United States</li>
<li>Markets reports in specific county for multifamily, retail, office, industrial, or hospitality properties</li>
<li>Complimentary market analysis and valuation reports for your commercial property</li>
<li>Up-to-date current commercial real estate listings (on-market and off-market)</li>
</ul>
<p><br/> Schedule a time for a call or meeting with me <a href="https://api.leadconnectorhq.com/widget/bookings/maexp" target="_blank" rel="noopener">here</a>. <br/> We are here to assist you in achieving your commercial real estate investment goals and maximizing your return on investment and equity.<br/> I wish for you and your family a Peaceful & Prosperous 2024.<br/> Please let me know how I can be of service.<br/> Thank you.</p>
<p>--</p>
<p>Best Regards,</p>
<p>Manuel Angeles<br/> Broker Associate<br/> CalDRE #01985856<br/> Mobile: (323) 900-5258<br/> Email: <a href="mailto:manuel.angeles@expcommercial.com" target="_blank" rel="noopener">manuel.angeles@expcommercial.com</a><br/> Website: <a href="https://www.manuelangeles.com/" target="_blank" rel="noopener">www.manuelangeles.com</a><br/> Address: 155 N. Lake Avenue, 8th Floor, Pasadena 91101</p>
<p><img src="https://ci3.googleusercontent.com/meips/ADKq_NahLjJufrQmiMhwHiqGQrCKku3kK7j-ZE1KDBNjskUE6pvfivAs8ESRapTCBHzJRPQ0R25tRPM1pknqGth6md1r5AzGeauBDKl9AXPVMb5jK8d2fiXBn_fWHRW3fxFChiF1Gf9xLvPAotDo5aIj_jorkxcjfgWljWzY3pkjdBGXCdeZg4iiE1WppzC6A-tMt1wY685E7OBBWCIgiAUMqQlPTDvQ9p5eSfG9whx6i_s2Ymo51cnmCChBg9wk0KThwpCn5jI8Gv8pUkp4h3DbYhBaJIi5ft4GCvgDP5bzZrhiL6ZFNFxg3Och4M6Z0A0IYZug_Zf36kXiDixxCK9Yv7A=s0-d-e1-ft#%3Ca%20href="/></p>
<p><br/> Exp Commercial of California, Inc.<br/> CalDRE #02134436 <br/> Office: (855) 451-1236, ext 300<br/> Website: <a href="https://www.expcommercial.com/" target="_blank" rel="noopener">www.expcommercial.com</a><br/> Address: 2603 Camino Ramon, Ste 200, San Ramon, CA 94583<br/> <br/> | Commercial Real Estate Brokerage: Multifamily, Retail, Office, Mixed-Use, Industrial, Hospitality, Self-Storage, Land |<br/> <br/> <img src="https://ci3.googleusercontent.com/meips/ADKq_NY0_hsRh3zONMFuLDfdVD75jwktAnNfO7pWFgz66qzZFc1BFCZlJKiNIU5Xw0rbhcviFKjkpjQvzb3MNSo6sr3PBfElGc05_stxlG--OYZrcDmdeXwSCB9qIiM0vjMYWUmmagI2cIid3XKV9O9YkzXnz-FNpmqzwoD7vdW8BGy_TPGLMApi7y5SG7ketzhMcQ2Nb0X_XeXtZFyGnALiEXfaSdwx776Kj3onKz4WHX2iDMlgg9m5bumMzn9d-E99C4-jhZCYkBdayZ9CEpi_fJeauc7SwMQOyqrrZdrhpK3UhjeYiJCYOHaiPsvP9EOf6Bt973JGPQRY-9XWyvDF2v4=s0-d-e1-ft#%3Ca%20href=" width="192" height="100"/> <img src="https://ci3.googleusercontent.com/meips/ADKq_NaPmRRoRxXcnNeQJCyt3azCjp0yH-m5Z_TmMxNgfoWjx5F4rnDWoidoonCN8EG6JtT1BsLZ1Y07qTT5YoSCeVkDT9xeWj_Y_2W0Z0DjLU_SozzJ0uPj-QEtSuBVLVvDOkBlCSt_OwkvVF2lRNZHOU8o8-PyTEyHZCbgjSqNIdqczgkHuXn-pJvgBjS4P5nFMRhIyfxHKK4KLM7gPvvECO_Il4gfTrGRW2WK4VH8HjcoVmmTKzajws252JbQumEcg1Zb7eT2c5Nl2vpEM4a0zubxPkQTy8C6Tra1NNqODHxCFP0lyquTjblPnUdaAxH6UKhqaKKZiR38mS--0kRiJ20=s0-d-e1-ft#%3Ca%20href=" width="401" height="100"/></p>
</div>
</div>USA National Hospitality Market Report as of January 15, 2024tag:realestatefinance.ning.com,2024-03-10:6517464:BlogPost:4979972024-03-10T04:00:00.000ZManuel Angeleshttps://realestatefinance.ning.com/profile/ManuelAngeles661
<div class="card-content"><div class="blog-content style-reset-for-user-content user-content"><p>Greetings,</p>
<p>This is Manuel Angeles with Exp Commercial.</p>
<p>Here is an update on the current<span> </span><span><strong>National Commercial Hospitality Real Estate Market in The United States of America</strong></span>:</p>
<p><strong>To no one's surprise, trading volume in the third quarter decreased by around 40% from the same quarter last year. As higher interest rates keep deal…</strong></p>
</div>
</div>
<div class="card-content"><div class="blog-content style-reset-for-user-content user-content"><p>Greetings,</p>
<p>This is Manuel Angeles with Exp Commercial.</p>
<p>Here is an update on the current<span> </span><span><strong>National Commercial Hospitality Real Estate Market in The United States of America</strong></span>:</p>
<p><strong>To no one's surprise, trading volume in the third quarter decreased by around 40% from the same quarter last year. As higher interest rates keep deal underwriting difficult, the bid-ask spread continues to be elevated</strong>. Owners with strong operating histories encounter buyers with an economic slowdown on their minds and, so far, neither side is willing to give. The highly anticipated 'wall of distress' has not materialized and from listening to industry participants, it is not clear that it will. At industry conferences borrowers bemoan the fact that not only are rates higher, but spreads have increased as well, putting continued pressure on interest rates up and down the debt capital stack.</p>
<p><strong>Cap rate forecasts have been inching higher</strong>. Part of the calculus here was the contraction in cap rate premiums over cap rates observed in the office sector. Historically, hotel cap rates were 100 to 150 basis points higher than office cap rates. In the most recent past, this margin continued to contract, and the forecast is that office cap rates will rise, and that hotel cap rates, although higher as well, will have a smaller delta over office cap rates, down to sub-100 basis points.</p>
<p><strong>Despite lower trading volume, some select deals are getting done</strong>. Ryman Hospitality Properties bought the 1,000-room J.W. Marriott resort in San Antonio to add to its stable of meeting-oriented hotels for $800 million. Blackstone was able to transact this property at a profit of over $120 million. In New York City, the Park Lane Hotel on Central Park South traded for just over $1 million/key for its 610 rooms to the Quatar Investment Authority. Just down Broadway, a triple-branded Hilton hotel, featuring a Hampton Inn, Home2Suites, and Motto, with just over 1,000 rooms, was sold for $470 million dollars from the developer to two separate entities. These deals signify that, for motivated buyers, financing costs are not as important a consideration as the location or a strategic rationale to own a property in a preferred market.</p>
<p><strong>On the other side of the spectrum, hotels that relied on downtown transient demand and were hit hard over the past two years are seeing some interest, as well</strong>. Cases in point are two closed hotels: the Standard Hollywood, and the New York City Marriott Eastside, both selling for over $100 million in 23Q1.</p>
<p><strong>Borrowers of two high-profile portfolios decided to stop supporting their loans, so industry participants are assessing the likelihood of these properties trading</strong>. Park Hotels and Resorts decided to stop debt payments on their two-hotel, 3,000-room, portfolio in San Francisco, the Parc 55, and the Hilton San Francisco Union Square. Subsequently, Morningstar decreased the value of these properties in their calculations by roughly $1 billion, from $1.5 billion in 2019 to $475 million today. And Ashford Hospitality decided to hand back the keys to a 19-hotel portfolio to the lender.</p>
<p>The Hersha take-private transaction by KSL for around $1.4 billion, at a 60% stock price premium, has so far not been a catalyst for future M&A activity. Hersha had signaled that they were looking for a buyer, and the deal gave KSL an easy way to expand its growing footprint by purchasing 3,800 hotels in 25 properties.</p>
<p><strong>The transaction outlook continues to be muted as lack of clarity in the interest rate environment keeps buyers on the sideline</strong>. Rather than consummate deals, funds may be more likely to offer debt or preferred equity positions to allow owners to right-size their capital stack without giving up full ownership.</p>
<p> </p>
<p>Here are several graphs illustrating the current national commercial hospitality market in The United States of America:</p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/1+Hospitality+1.15.2024.png" width="750" height="546"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/2+Hospitality+1.15.2024.png" width="752" height="287"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/3+Hospitality+1.15.2024.png" width="751" height="549"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/4+Hospitality+1.15.2024.png" width="754" height="390"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/5+Hospitality+1.15.2024.png" width="751" height="420"/></p>
<p><strong>Full Commercial Hospitality Market Report Here:</strong><span> </span><a href="https://d2saw6je89goi1.cloudfront.net/uploads/digital_asset/file/1183586/United_States-Hospitality-Capital_National-2024-01-15_compressed__1_.pdf" target="_blank" rel="noopener">https://d2saw6je89goi1.cloudfront.net/uploads/digital_asset/file/1183586/United_States-Hospitality-Capital_National-2024-01-15_compressed__1_.pdf</a> </p>
<p> </p>
<p><strong>Access Exclusive Commercial Real Estate Market Reports in The United States Here:<span> </span></strong><a href="http://usacre.manuelangeles.com/" target="_blank" rel="noopener">http://usacre.manuelangeles.com/</a></p>
<p><br/> Please contact me for:</p>
<ul>
<li>Any questions, comments, or concerns regarding the commercial real estate market in The United States</li>
<li>Markets reports in specific county for multifamily, retail, office, industrial, or hospitality properties</li>
<li>Complimentary market analysis and valuation reports for your commercial property</li>
<li>Up-to-date current commercial real estate listings (on-market and off-market)</li>
</ul>
<p><br/> Schedule a time for a call or meeting with me <a href="https://api.leadconnectorhq.com/widget/bookings/maexp" target="_blank" rel="noopener">here</a>. <br/> We are here to assist you in achieving your commercial real estate investment goals and maximizing your return on investment and equity.<br/> I wish for you and your family a Peaceful & Prosperous 2024.<br/> Please let me know how I can be of service.<br/> Thank you.<br/></p>
<p>--</p>
<p>Best Regards,</p>
<p>Manuel Angeles<br/> Broker Associate<br/> CalDRE #01985856<br/> Mobile: (323) 900-5258<br/> Email: <a href="mailto:manuel.angeles@expcommercial.com" target="_blank" rel="noopener">manuel.angeles@expcommercial.com</a><br/> Website: <a href="https://www.manuelangeles.com/" target="_blank" rel="noopener">www.manuelangeles.com</a><br/> Address: 155 N. Lake Avenue, 8th Floor, Pasadena 91101</p>
<p><img src="https://ci3.googleusercontent.com/meips/ADKq_NahLjJufrQmiMhwHiqGQrCKku3kK7j-ZE1KDBNjskUE6pvfivAs8ESRapTCBHzJRPQ0R25tRPM1pknqGth6md1r5AzGeauBDKl9AXPVMb5jK8d2fiXBn_fWHRW3fxFChiF1Gf9xLvPAotDo5aIj_jorkxcjfgWljWzY3pkjdBGXCdeZg4iiE1WppzC6A-tMt1wY685E7OBBWCIgiAUMqQlPTDvQ9p5eSfG9whx6i_s2Ymo51cnmCChBg9wk0KThwpCn5jI8Gv8pUkp4h3DbYhBaJIi5ft4GCvgDP5bzZrhiL6ZFNFxg3Och4M6Z0A0IYZug_Zf36kXiDixxCK9Yv7A=s0-d-e1-ft#%3Ca%20href="/></p>
<p><br/> Exp Commercial of California, Inc.<br/> CalDRE #02134436 <br/> Office: (855) 451-1236, ext 300<br/> Website: <a href="https://www.expcommercial.com/" target="_blank" rel="noopener">www.expcommercial.com</a><br/> Address: 2603 Camino Ramon, Ste 200, San Ramon, CA 94583<br/> <br/> | Commercial Real Estate Brokerage: Multifamily, Retail, Office, Mixed-Use, Industrial, Hospitality, Self-Storage, Land |<br/> <br/> <img src="https://ci3.googleusercontent.com/meips/ADKq_NY0_hsRh3zONMFuLDfdVD75jwktAnNfO7pWFgz66qzZFc1BFCZlJKiNIU5Xw0rbhcviFKjkpjQvzb3MNSo6sr3PBfElGc05_stxlG--OYZrcDmdeXwSCB9qIiM0vjMYWUmmagI2cIid3XKV9O9YkzXnz-FNpmqzwoD7vdW8BGy_TPGLMApi7y5SG7ketzhMcQ2Nb0X_XeXtZFyGnALiEXfaSdwx776Kj3onKz4WHX2iDMlgg9m5bumMzn9d-E99C4-jhZCYkBdayZ9CEpi_fJeauc7SwMQOyqrrZdrhpK3UhjeYiJCYOHaiPsvP9EOf6Bt973JGPQRY-9XWyvDF2v4=s0-d-e1-ft#%3Ca%20href=" width="194" height="101"/> <img src="https://ci3.googleusercontent.com/meips/ADKq_NaPmRRoRxXcnNeQJCyt3azCjp0yH-m5Z_TmMxNgfoWjx5F4rnDWoidoonCN8EG6JtT1BsLZ1Y07qTT5YoSCeVkDT9xeWj_Y_2W0Z0DjLU_SozzJ0uPj-QEtSuBVLVvDOkBlCSt_OwkvVF2lRNZHOU8o8-PyTEyHZCbgjSqNIdqczgkHuXn-pJvgBjS4P5nFMRhIyfxHKK4KLM7gPvvECO_Il4gfTrGRW2WK4VH8HjcoVmmTKzajws252JbQumEcg1Zb7eT2c5Nl2vpEM4a0zubxPkQTy8C6Tra1NNqODHxCFP0lyquTjblPnUdaAxH6UKhqaKKZiR38mS--0kRiJ20=s0-d-e1-ft#%3Ca%20href=" width="401" height="100"/> </p>
</div>
</div>USA National Retail Market Report as of January 15, 2024tag:realestatefinance.ning.com,2024-03-10:6517464:BlogPost:4979952024-03-10T04:00:00.000ZManuel Angeleshttps://realestatefinance.ning.com/profile/ManuelAngeles661
<div><div><div><div><p>Greetings,</p>
<p>This is Manuel Angeles with Exp Commercial.</p>
<p>Here is an update on the current <span><strong>National Commercial Retail Real Estate Market in The United States of America</strong></span>:</p>
<p><strong>Retail transaction volume fell to about $50 billion in 2023</strong>. When pitted against the decade-long trend, last year's initial sales estimates signify a decline of approximately 25%. Notably, in contrast to historical accelerations in…</p>
</div>
</div>
</div>
</div>
<div><div><div><div><p>Greetings,</p>
<p>This is Manuel Angeles with Exp Commercial.</p>
<p>Here is an update on the current <span><strong>National Commercial Retail Real Estate Market in The United States of America</strong></span>:</p>
<p><strong>Retail transaction volume fell to about $50 billion in 2023</strong>. When pitted against the decade-long trend, last year's initial sales estimates signify a decline of approximately 25%. Notably, in contrast to historical accelerations in transaction activity each year, 2023 investment activity shuffled sideways, with each quarter contributing roughly $13 billion to the annual total.</p>
<p>Among the varying price points in the retail investment market,<span> </span><strong>two major strategies characterize today's capital markets environment</strong>. On the one hand, smaller private investors pay all cash to take advantage of 1031 taxdeferred exchanges and tend to focus on long-term investments with estate planning goals in mind. They prefer assets with little hands-on management, and the ebb and flow of the debt markets have a muffled but delayed impact. This cohort often buys single-tenant net-leased properties valued at just a few million dollars.</p>
<p><strong>Conversely, those more heavily reliant on the debt markets are more prone to react quickly to macroeconomic variables like rising interest rates</strong>. These investors focus on large, management-intensive projects and adjust price targets to reflect their changing cost of capital and future cash flow projections. Notably, a broader market view causes these capital allocators to react to relative perceptions of risk across property types. The combination of no new supply, all-time low vacancies, and the mark-to-market story around inplace rents continue to pull capital into the retail sector.</p>
<p><strong>The number of marketed investment deals at the top end is still limited</strong>, but sluggish transaction activity is not due to a lack of supply at the low end of the market. In fact, the number of triple-net listings is growing as the average time on the market rises. One of the contributing factors to falling sales volume is mismatched pricing expectations as builders deliver new pre-leased offerings. The typical bid-ask spread for investment sales under $3 million stood at around 9% in through the third quarter of 2023.</p>
<p>While smaller exchange buyers might accept going-in yields that are below short-term treasuries, larger investors must adapt to a higher cost of capital. Investment sales over $10 million, which saw<span> </span><strong>cap rates in the mid-5% range in early 2022, have risen into the 6% to 7% bracket as of the fourth quarter of 2023</strong>.</p>
<p>Broadly speaking,<span> </span><strong>retail properties have seen a dip in value, but struggling malls heavily influence the double digit price declines across the top end of the market</strong>. Grocery-anchored neighborhood centers are highly sought after and often fetch cap rates in the low 6% range, with better quality assets pushing well into the 5% region. At the other end of the pricing spectrum, unanchored retail strip centers and large power centers may see pricing above 7%, which can occasionally push into the 8% to 9% range as specific market and quality factors influence each transaction.</p>
<p>As an illustration of the disparate range of cap rates in the retail space, a local buyer, SJ Amoroso Properties, traded into Strawflower Village in Half Moon Bay, CA, south of San Francisco, at a 5.4% cap rate in November. Total consideration for the asset came in at $34 million, or $430/SF. The 78,940-square-foot, grocery-anchored center was 96% leased and featured a 33,000-squarefoot lease with Safeway.</p>
<p>In the unanchored retail space, another private buyer traded into Oracle Wetmore in Tucson, AZ, for $25.5 million, or $264/SF. Acacia Real Estate Group priced the 96,634-square-foot power center at a 7.5% cap rate. The 2005-built project was 100% leased and included PetSmart, World Market, Jo-Ann Fabric and Craft Stores, and ULTA Beauty.</p>
<p>As we make our way through the first quarter of 2024, the $164 billion in retail loans maturing between 2024 and 2026 offer the market a lot to consider. Banks hold approximately 50%, and CMBS investors carry an added 27%.<span> </span><strong>Lending standards are tight across all lender types, and regional banks are pulling back from their once rapid pace of originations</strong>. The new year will also test the U.S. consumer's ability to keep spending, and fortunately, a lack of new retail construction and historically low availability rates should put a ceiling on how high vacancy rates climb in the event of a demand pullback.</p>
<p> </p>
<p>Here are several graphs illustrating the current national commercial retail market in The United States of America:</p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/Retail+1+1.15.2024.png" width="926" height="662"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/Retail+2+1.15.2024.png" width="929" height="350"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/Retail+3+1.15.2024.png" width="925" height="467"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/Retail+4+1.15.2024.png" width="922" height="489"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/Retail+5+1.15.2024.png" width="926" height="493"/></p>
<p><strong>Full Commercial Retail Market Report Here:</strong><span> </span><a href="https://d2saw6je89goi1.cloudfront.net/uploads/digital_asset/file/1183590/United_States-Retail-Capital_National-2024-01-15_compressed.pdf" target="_blank" rel="noopener">https://d2saw6je89goi1.cloudfront.net/uploads/digital_asset/file/1183590/United_States-Retail-Capital_National-2024-01-15_compressed.pdf</a> </p>
<p> </p>
<p><strong>Access Exclusive Commercial Real Estate Market Reports in The United States Here:</strong> <a href="http://usacre.manuelangeles.com/" target="_blank" rel="noopener">http://usacre.manuelangeles.com/</a></p>
<p><br/> Please contact me for:</p>
<ul>
<li>Any questions, comments, or concerns regarding the commercial real estate market in The United States</li>
<li>Markets reports in specific county for multifamily, retail, office, industrial, or hospitality properties</li>
<li>Complimentary market analysis and valuation reports for your commercial property</li>
<li>Up-to-date current commercial real estate listings (on-market and off-market)</li>
</ul>
<p><br/> Schedule a time for a call or meeting with me<span> </span><a href="https://api.leadconnectorhq.com/widget/bookings/maexp" target="_blank" rel="noopener">here</a>. <br/> We are here to assist you in achieving your commercial real estate investment goals and maximizing your return on investment and equity.<br/> I wish for you and your family a Peaceful & Prosperous 2024.<br/> Please let me know how I can be of service.<br/> Thank you.</p>
<p>--</p>
<p>Best Regards,</p>
<p>Manuel Angeles<br/> Broker Associate<br/> CalDRE #01985856<br/> Mobile: (323) 900-5258<br/> Email: <a href="mailto:manuel.angeles@expcommercial.com" target="_blank" rel="noopener">manuel.angeles@expcommercial.com</a><br/> Website: <a href="https://www.manuelangeles.com/" target="_blank" rel="noopener">www.manuelangeles.com</a><br/> Address: 155 N. Lake Avenue, 8th Floor, Pasadena 91101</p>
<p><img src="https://ci3.googleusercontent.com/meips/ADKq_NahLjJufrQmiMhwHiqGQrCKku3kK7j-ZE1KDBNjskUE6pvfivAs8ESRapTCBHzJRPQ0R25tRPM1pknqGth6md1r5AzGeauBDKl9AXPVMb5jK8d2fiXBn_fWHRW3fxFChiF1Gf9xLvPAotDo5aIj_jorkxcjfgWljWzY3pkjdBGXCdeZg4iiE1WppzC6A-tMt1wY685E7OBBWCIgiAUMqQlPTDvQ9p5eSfG9whx6i_s2Ymo51cnmCChBg9wk0KThwpCn5jI8Gv8pUkp4h3DbYhBaJIi5ft4GCvgDP5bzZrhiL6ZFNFxg3Och4M6Z0A0IYZug_Zf36kXiDixxCK9Yv7A=s0-d-e1-ft#%3Ca%20href=" width="103" height="109"/></p>
<p><br/> Exp Commercial of California, Inc.<br/> CalDRE #02134436 <br/> Office: (855) 451-1236, ext 300<br/> Website: <a href="https://www.expcommercial.com/" target="_blank" rel="noopener">www.expcommercial.com</a><br/> Address: 2603 Camino Ramon, Ste 200, San Ramon, CA 94583<br/> <br/> | Commercial Real Estate Brokerage: Multifamily, Retail, Office, Mixed-Use, Industrial, Hospitality, Self-Storage, Land |<br/> <br/> <img src="https://ci3.googleusercontent.com/meips/ADKq_NY0_hsRh3zONMFuLDfdVD75jwktAnNfO7pWFgz66qzZFc1BFCZlJKiNIU5Xw0rbhcviFKjkpjQvzb3MNSo6sr3PBfElGc05_stxlG--OYZrcDmdeXwSCB9qIiM0vjMYWUmmagI2cIid3XKV9O9YkzXnz-FNpmqzwoD7vdW8BGy_TPGLMApi7y5SG7ketzhMcQ2Nb0X_XeXtZFyGnALiEXfaSdwx776Kj3onKz4WHX2iDMlgg9m5bumMzn9d-E99C4-jhZCYkBdayZ9CEpi_fJeauc7SwMQOyqrrZdrhpK3UhjeYiJCYOHaiPsvP9EOf6Bt973JGPQRY-9XWyvDF2v4=s0-d-e1-ft#%3Ca%20href=" width="192" height="100"/> <img src="https://ci3.googleusercontent.com/meips/ADKq_NaPmRRoRxXcnNeQJCyt3azCjp0yH-m5Z_TmMxNgfoWjx5F4rnDWoidoonCN8EG6JtT1BsLZ1Y07qTT5YoSCeVkDT9xeWj_Y_2W0Z0DjLU_SozzJ0uPj-QEtSuBVLVvDOkBlCSt_OwkvVF2lRNZHOU8o8-PyTEyHZCbgjSqNIdqczgkHuXn-pJvgBjS4P5nFMRhIyfxHKK4KLM7gPvvECO_Il4gfTrGRW2WK4VH8HjcoVmmTKzajws252JbQumEcg1Zb7eT2c5Nl2vpEM4a0zubxPkQTy8C6Tra1NNqODHxCFP0lyquTjblPnUdaAxH6UKhqaKKZiR38mS--0kRiJ20=s0-d-e1-ft#%3Ca%20href=" width="401" height="100"/></p>
</div>
</div>
</div>
</div>Los Angeles Commercial Retail Market Report as of January 15, 2024tag:realestatefinance.ning.com,2024-03-10:6517464:BlogPost:4986362024-03-10T03:30:00.000ZManuel Angeleshttps://realestatefinance.ning.com/profile/ManuelAngeles661
<p>Greetings,</p>
<p>This is Manuel Angeles with Exp Commercial.</p>
<p>Here is an update on the current <span><strong>Commercial Retail Real Estate Market in Los Angeles County</strong></span>:</p>
<p><strong>Transaction activity continues to moderate as investors adjust to the effects of higher interest rates</strong>. Sales volume totaled $3.3 billion in 2023, although much of the activity from the first quarter came from buyers and sellers who were looking to avoid the ULA transfer tax…</p>
<p>Greetings,</p>
<p>This is Manuel Angeles with Exp Commercial.</p>
<p>Here is an update on the current <span><strong>Commercial Retail Real Estate Market in Los Angeles County</strong></span>:</p>
<p><strong>Transaction activity continues to moderate as investors adjust to the effects of higher interest rates</strong>. Sales volume totaled $3.3 billion in 2023, although much of the activity from the first quarter came from buyers and sellers who were looking to avoid the ULA transfer tax increase in the City of Los Angeles. Auto dealerships and owner/user sales account for a large proportion of trades in recent months, such as Brandon Steven Motors' acquisition of the Win Chevrolet dealership in Carson for $47 million in October.</p>
<p>While price discovery is underway,<span> </span><strong>only a few properties have traded for less than their acquisition price due to their long-term appreciation</strong>. The exceptions have generally been in opportunistic or value-add investments below $5 million, where plans changed and investors mitigated losses.</p>
<p><strong>Malls, which were highly sought after by investors in 2022, also had valuations decline in 2023</strong>. In September, Centennial Real Estate acquired the 1.2 million-SF Valencia Town Center from Unibail-Rodamco-Westfield for $199 million, or $172/SF, including the debt assumption of $195 million. The seller had stopped making loan payments earlier in the year. Another mall trade with a valuation loss involves the 248,900-SF HHLA shopping center, which traded in March, just before the implementation of the ULA transfer tax. Cannon Commercial acquired the asset for $80 million ($321/SF) from Torchlight Investors at an 8% cap rate. The seller originally acquired the asset as a main equity partner of the Laurus Corporation in June 2015 for $111 million. Despite renovations in 2017, the asset was 90% leased at the time of sale in March 2023, whereas it was 96.8% leased during the previous sale.</p>
<p><strong>Pricing on the top end of the market can be astronomical and can often diverge from aggregate economic and capital market trends due to their scarcity</strong>. It became common in recent years for some properties to double in price over short periods. But at least one recent trade shows that there are limitations to growth. In March 2023, LVMH acquired a 14,100-SF store located in Beverly Hills for $43 million ($3,040/SF). The seller acquired the property in July 2015 for $40 million, whereas a previous sale from December 2013 valued the property at $22 million.</p>
<p><strong>The market price, which represents the average estimated price of all retail space in the market, has been flat over the past 12 months</strong><span> </span>but has grown by an average annual rate of 3.2% over the past five years, reaching $430/SF. Over the same period, price appreciation has been strongest in submarkets across the San Fernando Valley, Antelope Valley, and Inglewood/South LA. In contrast, some of the most expensive submarkets, such as Beverly Hills, Century City, and Hollywood, have experienced lower price appreciation. However, the effects of higher interest rates are expected to place upward pressure on cap rates in the Base Case scenario, causing the market price to decline over the next six quarters.</p>
<p> </p>
<p>Here are several graphs illustrating the current retail market in Los Angeles County:</p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/LA+Retail+1+1.15.2024.png" width="928" height="667"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/LA+Retail+2+1.15.2024.png" width="930" height="359"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/LA+Retail+3+1.15.2024.png" width="927" height="475"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/LA+Retail+4+1.15.2024.png" width="924" height="479"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/LA+Retail+5+1.15.2024.png" width="924" height="466"/></p>
<p><br/> <strong>Full Los Angeles County Commercial Retail Market Report Here:</strong><span> </span><a href="https://d2saw6je89goi1.cloudfront.net/uploads/digital_asset/file/1183594/Los_Angeles_-_CA_-USA-Retail-Capital_Market-2024-01-15_compressed.pdf" target="_blank" rel="noopener">https://d2saw6je89goi1.cloudfront.net/uploads/digital_asset/file/1183594/Los_Angeles_-_CA_-USA-Retail-Capital_Market-2024-01-15_compressed.pdf</a> </p>
<p> </p>
<p><strong>Access Exclusive Commercial Real Estate Market Reports in Los Angeles County Here:</strong> <a href="http://lacre.manuelangeles.com/" target="_blank" rel="noopener">http://lacre.manuelangeles.com/</a></p>
<p><br/> Please contact me for:</p>
<ul>
<li>Any questions, comments, or concerns regarding the commercial real estate market in The United States</li>
<li>Markets reports in specific county for multifamily, retail, office, industrial, or hospitality properties</li>
<li>Complimentary market analysis and valuation reports for your commercial property</li>
<li>Up-to-date current commercial real estate listings (on-market and off-market)</li>
</ul>
<p><br/> Schedule a time for a call or meeting with me <a href="https://api.leadconnectorhq.com/widget/bookings/maexp" target="_blank" rel="noopener">here</a>. <br/> We are here to assist you in achieving your commercial real estate investment goals and maximizing your return on investment and equity.<br/> I wish for you and your family a Peaceful & Prosperous 2024.<br/> Please let me know how I can be of service.<br/> Thank you.<br/></p>
<p>--</p>
<p>Best Regards,</p>
<p>Manuel Angeles<br/> Broker Associate<br/> CalDRE #01985856<br/> Mobile: (323) 900-5258<br/> Email: <a href="mailto:manuel.angeles@expcommercial.com" target="_blank" rel="noopener">manuel.angeles@expcommercial.com</a><br/> Website: <a href="https://www.manuelangeles.com/" target="_blank" rel="noopener">www.manuelangeles.com</a><br/> Address: 155 N. Lake Avenue, 8th Floor, Pasadena 91101</p>
<p><img src="https://ci3.googleusercontent.com/meips/ADKq_NahLjJufrQmiMhwHiqGQrCKku3kK7j-ZE1KDBNjskUE6pvfivAs8ESRapTCBHzJRPQ0R25tRPM1pknqGth6md1r5AzGeauBDKl9AXPVMb5jK8d2fiXBn_fWHRW3fxFChiF1Gf9xLvPAotDo5aIj_jorkxcjfgWljWzY3pkjdBGXCdeZg4iiE1WppzC6A-tMt1wY685E7OBBWCIgiAUMqQlPTDvQ9p5eSfG9whx6i_s2Ymo51cnmCChBg9wk0KThwpCn5jI8Gv8pUkp4h3DbYhBaJIi5ft4GCvgDP5bzZrhiL6ZFNFxg3Och4M6Z0A0IYZug_Zf36kXiDixxCK9Yv7A=s0-d-e1-ft#%3Ca%20href="/></p>
<p><br/> Exp Commercial of California, Inc.<br/> CalDRE #02134436 <br/> Office: (855) 451-1236, ext 300<br/> Website: <a href="https://www.expcommercial.com/" target="_blank" rel="noopener">www.expcommercial.com</a><br/> Address: 2603 Camino Ramon, Ste 200, San Ramon, CA 94583<br/> <br/> | Commercial Real Estate Brokerage: Multifamily, Retail, Office, Mixed-Use, Industrial, Hospitality, Self-Storage, Land |<br/> <br/> <img src="https://ci3.googleusercontent.com/meips/ADKq_NY0_hsRh3zONMFuLDfdVD75jwktAnNfO7pWFgz66qzZFc1BFCZlJKiNIU5Xw0rbhcviFKjkpjQvzb3MNSo6sr3PBfElGc05_stxlG--OYZrcDmdeXwSCB9qIiM0vjMYWUmmagI2cIid3XKV9O9YkzXnz-FNpmqzwoD7vdW8BGy_TPGLMApi7y5SG7ketzhMcQ2Nb0X_XeXtZFyGnALiEXfaSdwx776Kj3onKz4WHX2iDMlgg9m5bumMzn9d-E99C4-jhZCYkBdayZ9CEpi_fJeauc7SwMQOyqrrZdrhpK3UhjeYiJCYOHaiPsvP9EOf6Bt973JGPQRY-9XWyvDF2v4=s0-d-e1-ft#%3Ca%20href=" width="194" height="101"/> <img src="https://ci3.googleusercontent.com/meips/ADKq_NaPmRRoRxXcnNeQJCyt3azCjp0yH-m5Z_TmMxNgfoWjx5F4rnDWoidoonCN8EG6JtT1BsLZ1Y07qTT5YoSCeVkDT9xeWj_Y_2W0Z0DjLU_SozzJ0uPj-QEtSuBVLVvDOkBlCSt_OwkvVF2lRNZHOU8o8-PyTEyHZCbgjSqNIdqczgkHuXn-pJvgBjS4P5nFMRhIyfxHKK4KLM7gPvvECO_Il4gfTrGRW2WK4VH8HjcoVmmTKzajws252JbQumEcg1Zb7eT2c5Nl2vpEM4a0zubxPkQTy8C6Tra1NNqODHxCFP0lyquTjblPnUdaAxH6UKhqaKKZiR38mS--0kRiJ20=s0-d-e1-ft#%3Ca%20href=" width="365" height="91"/></p>Los Angeles Multifamily Market Report as of January 15, 2024tag:realestatefinance.ning.com,2024-03-10:6517464:BlogPost:4984342024-03-10T03:30:00.000ZManuel Angeleshttps://realestatefinance.ning.com/profile/ManuelAngeles661
<div class="card-content"><div class="blog-content style-reset-for-user-content user-content"><div><p>Greetings,</p>
<p>This is Manuel Angeles with Exp Commercial.</p>
<p>Here is an update on the current <span><strong>Commercial Multifamily Real Estate Market in Los Angeles County</strong></span>:</p>
<p><strong>Recent multifamily sales activity in Greater Los Angeles has been muted</strong>. The fourth quarter witnessed $1.3 billion worth of multifamily assets transact. This follows the $877…</p>
</div>
</div>
</div>
<div class="card-content"><div class="blog-content style-reset-for-user-content user-content"><div><p>Greetings,</p>
<p>This is Manuel Angeles with Exp Commercial.</p>
<p>Here is an update on the current <span><strong>Commercial Multifamily Real Estate Market in Los Angeles County</strong></span>:</p>
<p><strong>Recent multifamily sales activity in Greater Los Angeles has been muted</strong>. The fourth quarter witnessed $1.3 billion worth of multifamily assets transact. This follows the $877 million of properties that traded in the third quarter. Recent activity is well below the $2.2 billion worth of multifamily sales that traded quarterly, on average, during the past decade in the L.A. metro.</p>
<p><strong>The increase in debt costs since early 2022 has led to declining sales volumes during the past year</strong>. Several local brokers have said many buyers in many deals now expect a 10-20% discount relative to early 2022 pricing. Average market pricing, $370,000/unit, is down 15% from a recent high of around $430,000/unit in 22Q1.</p>
<p>Starting April 1, the market has had to face an additional headwind to transaction activity.<span> </span><strong>Sellers in the City of Los Angeles now face an extra 4% transfer tax for any sale above $5 million and 5.5% for any sale above $10 million</strong>. The new transfer taxes are on top of the 0.45% transfer tax the city had in place before April. The impact of the tax was clear on sales activity within the city.</p>
<p><strong>Around 130 properties worth just over $600 million, transacted in the City of Los Angeles during the fourth quarter</strong>. Activity represents around a third of the dollar volumes witnessed quarterly, on average, during 2022. Of the properties that traded in the city in 23Q4, only 15 closed with a sale price above $5 million, around a quarter of the 58 properties that traded above that threshold quarterly, on average, in 2022. Activity in the fourth quarter follows a more tepid third quarter, which saw around $380 million of properties transacted. Only nine properties traded in 23Q3 for more than $5 million.</p>
<p>Going forward,<span> </span><strong>the transfer tax could continue to suppress transaction activity, as buyers, especially developers and value-add buyers, who typically hold properties for shorter periods, need to incorporate this cost into their underwriting</strong>. The measures also have the potential to shift investment to other cities in L.A. County and other markets across the nation, where transfer taxes are much lower or not imposed.</p>
<p><strong>Properties that have recently traded often see pricing below what would have been achieved before the rise in debt costs</strong>. In October, R.W. Selby & Company acquired Tower at Hollywood Hills, an 80-unit building at 1800 N Normandie Ave. in Los Feliz, from institutional investor Clarion for $27.47 million ($343,000/unit). The buyer financed the purchase with a $15.64 loan (57% loan to value). Clarion is selling the asset for a loss, having purchased the property for $30.1 million ($376,000/unit) in September 2018. Given the property was located in the City of Los Angeles, Clarion paid a transfer tax of 5.95%, or just over $1.6 million.</p>
<p>In September, Winstar Properties purchased William on Sunset, a 79-unit building in Hollywood at 5837 W Sunset Blvd., for $27.3 million ($346,000/unit) at a 5.5% in-place cap rate. Given the building was built in 2016, it is not subject to the Los Angeles Rent Stabilization Ordinance. Winstar financed the acquisition with a $17.5 million loan (64% loan to value). The seller, Cypress Real Estate Advisors, is selling the property for a loss. It acquired the property in 2019 for $38 million ($481,000/unit) at a 3.5% cap rate. With the building located in the City of Los Angeles, the seller paid a transfer tax of 5.95%, or just over $1.6 million.</p>
<p>In November, a private family trust purchased 945 Locust Ave., a 16-unit building in Long Beach, from H.G. Fenton Company for $3.9 million ($244,000/unit) at a 5.8% cap rate. The property sold for 6% less than the initial asking price of $4.15 million. The buyer financed the acquisition with a $2.6 million loan (67% loan to value) from J.P. Morgan. The property last sold for $3.525 million ($220,000). The cap rate at the time of the 2017 sale, 4.5%, was 130 basis points below the 2023 cap rate, demonstrating the impact of rising debt costs on area transactions.</p>
<p><strong>The outlook calls for continued price erosion through 2024</strong>. As interest rates are anticipated to remain elevated through 2024, debt will remain more costly. Additionally, market conditions are expected to remain softer, with limited rent growth and modest renter demand in the near term.</p>
<p> </p>
<p>Here are several graphs illustrating the current multifamily market in Los Angeles County:</p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/LA+Multifamily+1+1.15.2024.png" width="927" height="664"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/LA+Multifamily+2+1.15.2024.png" width="927" height="349"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/LA+Multifamily+3+1.15.2024.png" width="927" height="492"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/LA+Multifamily+4+1.15.2024.png" width="924" height="475"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/LA+Multifamily+5+1.15.2024.png" width="924" height="485"/></p>
<p><br/> <strong>Full Los Angeles County Commercial Multifamily Market Report Here:</strong><span> </span><a href="https://d2saw6je89goi1.cloudfront.net/uploads/digital_asset/file/1183595/Los_Angeles_County_MultiFamily_Market_Report_as_of_January_15__2024_compressed.pdf" target="_blank" rel="noopener">https://d2saw6je89goi1.cloudfront.net/uploads/digital_asset/file/1183595/Los_Angeles_County_MultiFamily_Market_Report_as_of_January_15__2024_compressed.pdf</a> </p>
<p><strong>Access Exclusive Commercial Real Estate Market Reports in Los Angeles County Here: </strong><a href="http://lacre.manuelangeles.com/" target="_blank" rel="noopener">http://lacre.manuelangeles.com/</a></p>
<p><br/> Please contact me for:</p>
<ul>
<li>Any questions, comments, or concerns regarding the commercial real estate market in The United States</li>
<li>Markets reports in specific county for multifamily, retail, office, industrial, or hospitality properties</li>
<li>Complimentary market analysis and valuation reports for your commercial property</li>
<li>Up-to-date current commercial real estate listings (on-market and off-market)</li>
</ul>
<p><br/> Schedule a time for a call or meeting with me <a href="https://api.leadconnectorhq.com/widget/bookings/maexp" target="_blank" rel="noopener">here</a>. <br/> We are here to assist you in achieving your commercial real estate investment goals and maximizing your return on investment and equity.<br/> I wish for you and your family a Peaceful & Prosperous 2024.<br/> Please let me know how I can be of service.<br/> Thank you.<br/></p>
<p>--</p>
<p>Best Regards,</p>
<p>Manuel Angeles<br/> Broker Associate<br/> CalDRE #01985856<br/> Mobile: (323) 900-5258<br/> Email: <a href="mailto:manuel.angeles@expcommercial.com" target="_blank" rel="noopener">manuel.angeles@expcommercial.com</a><br/> Website: <a href="https://www.manuelangeles.com/" target="_blank" rel="noopener">www.manuelangeles.com</a><br/> Address: 155 N. Lake Avenue, 8th Floor, Pasadena 91101</p>
<p><img src="https://ci3.googleusercontent.com/meips/ADKq_NahLjJufrQmiMhwHiqGQrCKku3kK7j-ZE1KDBNjskUE6pvfivAs8ESRapTCBHzJRPQ0R25tRPM1pknqGth6md1r5AzGeauBDKl9AXPVMb5jK8d2fiXBn_fWHRW3fxFChiF1Gf9xLvPAotDo5aIj_jorkxcjfgWljWzY3pkjdBGXCdeZg4iiE1WppzC6A-tMt1wY685E7OBBWCIgiAUMqQlPTDvQ9p5eSfG9whx6i_s2Ymo51cnmCChBg9wk0KThwpCn5jI8Gv8pUkp4h3DbYhBaJIi5ft4GCvgDP5bzZrhiL6ZFNFxg3Och4M6Z0A0IYZug_Zf36kXiDixxCK9Yv7A=s0-d-e1-ft#%3Ca%20href="/></p>
<p><br/> Exp Commercial of California, Inc.<br/> CalDRE #02134436 <br/> Office: (855) 451-1236, ext 300<br/> Website: <a href="https://www.expcommercial.com/" target="_blank" rel="noopener">www.expcommercial.com</a><br/> Address: 2603 Camino Ramon, Ste 200, San Ramon, CA 94583<br/> <br/> | Commercial Real Estate Brokerage: Multifamily, Retail, Office, Mixed-Use, Industrial, Hospitality, Self-Storage, Land |<br/> <br/> <img src="https://ci3.googleusercontent.com/meips/ADKq_NY0_hsRh3zONMFuLDfdVD75jwktAnNfO7pWFgz66qzZFc1BFCZlJKiNIU5Xw0rbhcviFKjkpjQvzb3MNSo6sr3PBfElGc05_stxlG--OYZrcDmdeXwSCB9qIiM0vjMYWUmmagI2cIid3XKV9O9YkzXnz-FNpmqzwoD7vdW8BGy_TPGLMApi7y5SG7ketzhMcQ2Nb0X_XeXtZFyGnALiEXfaSdwx776Kj3onKz4WHX2iDMlgg9m5bumMzn9d-E99C4-jhZCYkBdayZ9CEpi_fJeauc7SwMQOyqrrZdrhpK3UhjeYiJCYOHaiPsvP9EOf6Bt973JGPQRY-9XWyvDF2v4=s0-d-e1-ft#%3Ca%20href=" width="177" height="92"/><img src="https://ci3.googleusercontent.com/meips/ADKq_NaPmRRoRxXcnNeQJCyt3azCjp0yH-m5Z_TmMxNgfoWjx5F4rnDWoidoonCN8EG6JtT1BsLZ1Y07qTT5YoSCeVkDT9xeWj_Y_2W0Z0DjLU_SozzJ0uPj-QEtSuBVLVvDOkBlCSt_OwkvVF2lRNZHOU8o8-PyTEyHZCbgjSqNIdqczgkHuXn-pJvgBjS4P5nFMRhIyfxHKK4KLM7gPvvECO_Il4gfTrGRW2WK4VH8HjcoVmmTKzajws252JbQumEcg1Zb7eT2c5Nl2vpEM4a0zubxPkQTy8C6Tra1NNqODHxCFP0lyquTjblPnUdaAxH6UKhqaKKZiR38mS--0kRiJ20=s0-d-e1-ft#%3Ca%20href=" width="345" height="86"/></p>
</div>
</div>
</div>
<div class="card-content article-details-section"><div class="article-user-actions"><div class="left-actions"><div class="likes-holder regular"></div>
</div>
</div>
</div>Los Angeles Commercial Industrial Market Report as of January 15, 2024tag:realestatefinance.ning.com,2024-03-10:6517464:BlogPost:4982442024-03-10T03:30:00.000ZManuel Angeleshttps://realestatefinance.ning.com/profile/ManuelAngeles661
<div><p>Greetings,</p>
<p>This is Manuel Angeles with Exp Commercial.</p>
<p>Here is an update on the current <span><strong>Commercial Industrial Real Estate Market in Los Angeles County</strong></span>:</p>
<p><strong>Los Angeles Industrial has been an attractive asset type for institutional investors and public REITs for over a decade, as private owners, many of whom are entering retirement years, have been divesting</strong>. Sales volume has remained strong relative to the nation despite…</p>
</div>
<div><p>Greetings,</p>
<p>This is Manuel Angeles with Exp Commercial.</p>
<p>Here is an update on the current <span><strong>Commercial Industrial Real Estate Market in Los Angeles County</strong></span>:</p>
<p><strong>Los Angeles Industrial has been an attractive asset type for institutional investors and public REITs for over a decade, as private owners, many of whom are entering retirement years, have been divesting</strong>. Sales volume has remained strong relative to the nation despite the rise in interest rates, both due to local policy changes and distress. The ULA transfer tax implemented in the city of L.A. raised transaction costs at the start of April, leading many investors to streamline sales that might have otherwise closed in 23Q2. For example, one of many trades that closed on the final days of 22Q1 is GI Partners' acquisition of DirectTV's two-property, 210,000-SF facility in Los Angeles for $210 million ($1,000/SF), which contained data center facilities. The deed was filed with the county on the last day of March.</p>
<p><strong>Sales volume totaled $5.2 billion in 2023, with another jolt in activity in 23Q3</strong>, this time driven by owner-user sales of companies that are facing financial challenges and could use the capital to increase liquidity. For example, in August, locally based 99 Cents Only Stores sold their 800,000-SF distribution building to Dart Warehouse Corporation for $190 million ($237/SF) in a sale-leaseback deal. The previous month, Yellow sold a 9.8-acre truck terminal, which included a 38,000-SF industrial building, for $80 million.</p>
<p><strong>Price discovery is underway after years of outsized rent growth paired with low interest rates drove robust appreciation</strong>. The market price has averaged 11.5% annual growth over the past five years and long-term holds continue to reflect these gains. For example, Rexford Industrial REIT acquired a 608,000-SF distribution center in Santa Fe Springs for $210 million ($345/SF) in July 2023. Fully leased with GXO Logistics as the primary tenant, the property traded at a 5% cap rate. The seller, DWS Group, purchased the property in July 2015 for $62.25 million, representing an annual appreciation return of 16.4%. Rexford was attracted to the property for its mark-to-market opportunity.</p>
<p>At the same time,<span> </span><strong>nearly all sales of properties valued over $5 million have sold for prices above their respective purchase price, including short-term holds</strong>. But some sellers are making concessions. For example, owner-user Sunset Olive Oil was asking for $21.5 million for a 31,200-SF warehouse in Pico Rivera that they originally acquired in August 2020 for $8.7 million. CapRock Partners, with plans to renovate and reposition the asset, was able to negotiate the price down to $19.2 million ($615/SF) when it sold in June 2023.</p>
<p><strong>The premium for new construction is high due to its scarcity in the market</strong>. As an example, BeBella, an owner-user, recently acquired a 92,800-SF warehouse in Santa Fe Springs from Panattoni Development for $53.6 million ($578/SF) in September 2023. The market price for logistics properties in the Santa Fe Springs/La Mirada submarket at the time of sale was $314/SF.</p>
<p><strong>Cap rates have been rising from a trough in 22Q1</strong>. At that time, trades that resemble Rexford Industrial REIT 608,000-SF distribution center in Santa Fe Springs that traded for a 5% cap rate were trading in the 3.5% to 4% range. The impact of the steep increase in interest rates is expected to continue to affect pricing in the short term. In the Base Case scenario, cap rates continue to march higher over the next four to eight quarters, placing downward pressure on prices.</p>
<p> </p>
<p>Here are several graphs illustrating the current industrial market in Los Angeles County:</p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/LA+Industrial+1+1.15.2024.png" width="932" height="664"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/LA+Industrial+2+1.15.2024.png" width="929" height="351"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/LA+Industrial+3+1.15.2024.png" width="927" height="476"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/LA+Industrial+4+1.15.2024.png" width="923" height="455"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/LA+Industrial+5+1.15.2024.png" width="922" height="485"/></p>
<p><strong><br/> Full Los Angeles County Commercial Industrial Market Report Here</strong>:<span> </span><a href="https://d2saw6je89goi1.cloudfront.net/uploads/digital_asset/file/1183592/Los_Angeles_-_CA_-USA-Industrial-Capital_Market-2024-01-15_compressed.pdf" target="_blank" rel="noopener">https://d2saw6je89goi1.cloudfront.net/uploads/digital_asset/file/1183592/Los_Angeles_-_CA_-USA-Industrial-Capital_Market-2024-01-15_compressed.pdf</a> </p>
<p> </p>
<p><strong>Access Exclusive Commercial Real Estate Market Reports in Los Angeles County Here:</strong> <a href="http://lacre.manuelangeles.com/" target="_blank" rel="noopener">http://lacre.manuelangeles.com/</a></p>
<p><br/> Please contact me for:</p>
<ul>
<li>Any questions, comments, or concerns regarding the commercial real estate market in The United States</li>
<li>Markets reports in specific county for multifamily, retail, office, industrial, or hospitality properties</li>
<li>Complimentary market analysis and valuation reports for your commercial property</li>
<li>Up-to-date current commercial real estate listings (on-market and off-market)</li>
</ul>
<p><br/> Schedule a time for a call or meeting with me <a href="https://api.leadconnectorhq.com/widget/bookings/maexp" target="_blank" rel="noopener">here</a>. <br/> We are here to assist you in achieving your commercial real estate investment goals and maximizing your return on investment and equity.<br/> I wish for you and your family a Peaceful & Prosperous 2024.<br/> Please let me know how I can be of service.<br/> Thank you.<br/></p>
<p>--</p>
<p>Best Regards,</p>
<p>Manuel Angeles<br/> Broker Associate<br/> CalDRE #01985856<br/> Mobile: (323) 900-5258<br/> Email: <a href="mailto:manuel.angeles@expcommercial.com" target="_blank" rel="noopener">manuel.angeles@expcommercial.com</a><br/> Website: <a href="https://www.manuelangeles.com/" target="_blank" rel="noopener">www.manuelangeles.com</a><br/> Address: 155 N. Lake Avenue, 8th Floor, Pasadena 91101</p>
<p><img src="https://ci3.googleusercontent.com/meips/ADKq_NahLjJufrQmiMhwHiqGQrCKku3kK7j-ZE1KDBNjskUE6pvfivAs8ESRapTCBHzJRPQ0R25tRPM1pknqGth6md1r5AzGeauBDKl9AXPVMb5jK8d2fiXBn_fWHRW3fxFChiF1Gf9xLvPAotDo5aIj_jorkxcjfgWljWzY3pkjdBGXCdeZg4iiE1WppzC6A-tMt1wY685E7OBBWCIgiAUMqQlPTDvQ9p5eSfG9whx6i_s2Ymo51cnmCChBg9wk0KThwpCn5jI8Gv8pUkp4h3DbYhBaJIi5ft4GCvgDP5bzZrhiL6ZFNFxg3Och4M6Z0A0IYZug_Zf36kXiDixxCK9Yv7A=s0-d-e1-ft#%3Ca%20href="/></p>
<p><br/> Exp Commercial of California, Inc.<br/> CalDRE #02134436 <br/> Office: (855) 451-1236, ext 300<br/> Website: <a href="https://www.expcommercial.com/" target="_blank" rel="noopener">www.expcommercial.com</a><br/> Address: 2603 Camino Ramon, Ste 200, San Ramon, CA 94583<br/> <br/> | Commercial Real Estate Brokerage: Multifamily, Retail, Office, Mixed-Use, Industrial, Hospitality, Self-Storage, Land |<br/> <br/> <img src="https://ci3.googleusercontent.com/meips/ADKq_NY0_hsRh3zONMFuLDfdVD75jwktAnNfO7pWFgz66qzZFc1BFCZlJKiNIU5Xw0rbhcviFKjkpjQvzb3MNSo6sr3PBfElGc05_stxlG--OYZrcDmdeXwSCB9qIiM0vjMYWUmmagI2cIid3XKV9O9YkzXnz-FNpmqzwoD7vdW8BGy_TPGLMApi7y5SG7ketzhMcQ2Nb0X_XeXtZFyGnALiEXfaSdwx776Kj3onKz4WHX2iDMlgg9m5bumMzn9d-E99C4-jhZCYkBdayZ9CEpi_fJeauc7SwMQOyqrrZdrhpK3UhjeYiJCYOHaiPsvP9EOf6Bt973JGPQRY-9XWyvDF2v4=s0-d-e1-ft#%3Ca%20href=" width="194" height="101"/> <img src="https://ci3.googleusercontent.com/meips/ADKq_NaPmRRoRxXcnNeQJCyt3azCjp0yH-m5Z_TmMxNgfoWjx5F4rnDWoidoonCN8EG6JtT1BsLZ1Y07qTT5YoSCeVkDT9xeWj_Y_2W0Z0DjLU_SozzJ0uPj-QEtSuBVLVvDOkBlCSt_OwkvVF2lRNZHOU8o8-PyTEyHZCbgjSqNIdqczgkHuXn-pJvgBjS4P5nFMRhIyfxHKK4KLM7gPvvECO_Il4gfTrGRW2WK4VH8HjcoVmmTKzajws252JbQumEcg1Zb7eT2c5Nl2vpEM4a0zubxPkQTy8C6Tra1NNqODHxCFP0lyquTjblPnUdaAxH6UKhqaKKZiR38mS--0kRiJ20=s0-d-e1-ft#%3Ca%20href=" width="380" height="95"/></p>
</div>Los Angeles Commercial Office Market Report as of January 15, 2024tag:realestatefinance.ning.com,2024-03-10:6517464:BlogPost:4982412024-03-10T03:30:00.000ZManuel Angeleshttps://realestatefinance.ning.com/profile/ManuelAngeles661
<div><p>Greetings,</p>
<p>This is Manuel Angeles with Exp Commercial.</p>
<p>Here is an update on the current <span><strong>Commercial Office Real Estate Market in Los Angeles County</strong></span>:</p>
<p><strong>Recent office sales activity in Greater Los Angeles remains restrained</strong>. The fourth quarter witnessed $802 million worth of office properties transact, well under the $1.7 billion worth of office sales that traded quarterly, on average, during the past decade in the…</p>
</div>
<div><p>Greetings,</p>
<p>This is Manuel Angeles with Exp Commercial.</p>
<p>Here is an update on the current <span><strong>Commercial Office Real Estate Market in Los Angeles County</strong></span>:</p>
<p><strong>Recent office sales activity in Greater Los Angeles remains restrained</strong>. The fourth quarter witnessed $802 million worth of office properties transact, well under the $1.7 billion worth of office sales that traded quarterly, on average, during the past decade in the metro.</p>
<p>Acute market weakness in most segments of the local office market, combined with long-term questions around the future trajectory for space use, have dented investor interest in office properties in the metro.<span> </span><strong>Several recent sales have garnered lower pricing than previous transaction prices</strong>.</p>
<p>In November, Montana Avenue Capital Partners purchased 1700 E Walnut from CBRE Investment Management for $31.17 million ($260/SF). The sale included a six-story, 400-parking-space garage. The property was around 60% leased at the time of purchase. CBRE Investment management is selling the asset for a 35% loss, having purchased the property in June 2017 for $48.5 million ($405/SF). It bought the property from JV partners Montana Avenue Capital Partners and The Roxborough Group. Montana is purchasing the asset for less than it acquired the property for in October 2015, having paid $33.5 million ($280/SF).</p>
<p>In December, a private family office purchased 400 and 450 Brand Blvd. from Kennedy Wilson for $58 million ($130/SF). The two buildings comprised 440,700 SF, with 364,700 SF of office space and 76,700 SF of retail space. The buildings were 61% leased, and the property was marketed as a value-add opportunity. Existing tenants had a weighted average remaining lease term of 5.5 years. Significant tenants include 24-Hour Fitness, Cigna, and Regus. No loan was recorded at the time of sale, making it likely the buyer paid all cash.</p>
<p>The transaction represents a 60% loss for Kennedy Wilson, having acquired the buildings in May 2017 for $144 million ($325/SF). It also sold well below its previous sale price in January 2004 for $117 million ($265/SF). The sale indicates a trend in L.A. and nationally of private, opportunistic buyers becoming increasingly active in acquiring office properties, while larger, more institutional investors are divesting of office assets.</p>
<p><strong>Substantiating the trend, during 2023, private buyers were behind 60% of all transaction activity on a dollar basis</strong>. From 2015 to 2019, the five years preceding the pandemic, private buyers represented, on average, around 45% of buyer activity. In contrast, institutional buyers were behind 10% of dollar volumes in 2023. From 2015 to 2019, they were behind around a quarter of activity.</p>
<p><strong>The most prominent news around market distress centers on Downtown Los Angeles</strong>. In 2023, Brookfield Properties, the largest landlord in Downtown Los Angeles, defaulted on 777 Tower, Ernst & Young Plaza, and Gas Company Tower. Ernst & Young Plaza went into receivership in May, and Gas Company Tower went into receivership in April. 777 Tower is currently on the market.</p>
<p>In July, Gas Company Tower was appraised at $270 million, around 40% of its last valuation of $632 million in 2021. The value is also well below the $465 million in loans Brookfield has on the property. In December, Ernst & Young Plaza was appraised at $210.7 Million, less than half its valuation of $446 million three years ago. As loans come due on other office properties in the L.A. metro, additional landlords will likely default.</p>
<p><strong>Most future office sales will likely garner a discount in pricing to what was likely possible before early 2020</strong>. However, a handful of recent sales demonstrate some investors are willing to pay top-dollar for select properties.</p>
<p>The largest 2023 office sale in Santa Monica, as well as the L.A. metro, closed in August, when J.P. Morgan Asset Management purchased from CalSTRS the Pen Factory, a 220,000-SF building at 2701 Olympic Blvd., for $178 million ($810/SF). The property is fully leased to video game publisher Activision Blizzard and healthcare company GoodRx Holdings, which have headquarters in the office building. J.P. Morgan financed the acquisition with a $97.9 million loan (55% loan to value) from PCCP.</p>
<p><strong>The strong price achieved was driven by the asset being a creative office conversion that finished in 2017</strong><span> </span>(latest generation space), was 100% leased, and was in a favorable location in Santa Monica, historically one of L.A.'s most sought-after office locations. Properties with all three attributes represent a small portion of L.A.'s office market.</p>
<p><strong>Looking forward, average market pricing is expected to continue to decline at least through 2024</strong>. Market pricing is forecast to experience a peak-to-trough decline of around 30% by 2025. The market faces numerous headwinds. Vacancy is expected to continue to reach new heights during the next several years, and asking rents are expected to witness declines. Uncertainty around the long-term trajectory for office space use due to the increased use of hybrid work strategies persists. Additionally, as interest rates are anticipated to remain elevated for at least the near term, debt will likely remain more costly.</p>
<p> </p>
<p>Here are several graphs illustrating the current office market in Los Angeles County:</p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/LA+Office+1+1.15.2024.png" width="928" height="665"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/LA+Office+2+1.15.2024.png" width="928" height="349"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/LA+Office+3+1.15.2024.png" width="925" height="476"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/LA+Office+4+1.15.2024.png" width="923" height="471"/></p>
<p><img src="https://activerain.com/image_store/uploads/agents/manuelangeles/files/LA+Office+5+1.15.2024.png" width="922" height="483"/></p>
<p><br/> <strong>Full Los Angeles County Commercial Office Market Report Here:</strong><span> </span><a href="https://d2saw6je89goi1.cloudfront.net/uploads/digital_asset/file/1183593/Los_Angeles_-_CA_-USA-Office-Capital_Market-2024-01-15_compressed.pdf" target="_blank" rel="noopener">https://d2saw6je89goi1.cloudfront.net/uploads/digital_asset/file/1183593/Los_Angeles_-_CA_-USA-Office-Capital_Market-2024-01-15_compressed.pdf</a> </p>
<p> </p>
<p><strong>Access Exclusive Commercial Real Estate Market Reports in Los Angeles County Here: </strong><a href="http://lacre.manuelangeles.com/" target="_blank" rel="noopener">http://lacre.manuelangeles.com/</a></p>
<p><br/> Please contact me for:</p>
<ul>
<li>Any questions, comments, or concerns regarding the commercial real estate market in The United States</li>
<li>Markets reports in specific county for multifamily, retail, office, industrial, or hospitality properties</li>
<li>Complimentary market analysis and valuation reports for your commercial property</li>
<li>Up-to-date current commercial real estate listings (on-market and off-market)</li>
</ul>
<p><br/> Schedule a time for a call or meeting with me <a href="https://api.leadconnectorhq.com/widget/bookings/maexp" target="_blank" rel="noopener">here</a>. <br/> We are here to assist you in achieving your commercial real estate investment goals and maximizing your return on investment and equity.<br/> I wish for you and your family a Peaceful & Prosperous 2024.<br/> Please let me know how I can be of service.<br/> Thank you.<br/></p>
<p>--</p>
<p>Best Regards,</p>
<p>Manuel Angeles<br/> Broker Associate<br/> CalDRE #01985856<br/> Mobile: (323) 900-5258<br/> Email: <a href="mailto:manuel.angeles@expcommercial.com" target="_blank" rel="noopener">manuel.angeles@expcommercial.com</a><br/> Website: <a href="https://www.manuelangeles.com/" target="_blank" rel="noopener">www.manuelangeles.com</a><br/> Address: 155 N. Lake Avenue, 8th Floor, Pasadena 91101</p>
<p><img src="https://ci3.googleusercontent.com/meips/ADKq_NahLjJufrQmiMhwHiqGQrCKku3kK7j-ZE1KDBNjskUE6pvfivAs8ESRapTCBHzJRPQ0R25tRPM1pknqGth6md1r5AzGeauBDKl9AXPVMb5jK8d2fiXBn_fWHRW3fxFChiF1Gf9xLvPAotDo5aIj_jorkxcjfgWljWzY3pkjdBGXCdeZg4iiE1WppzC6A-tMt1wY685E7OBBWCIgiAUMqQlPTDvQ9p5eSfG9whx6i_s2Ymo51cnmCChBg9wk0KThwpCn5jI8Gv8pUkp4h3DbYhBaJIi5ft4GCvgDP5bzZrhiL6ZFNFxg3Och4M6Z0A0IYZug_Zf36kXiDixxCK9Yv7A=s0-d-e1-ft#%3Ca%20href="/></p>
<p><br/> Exp Commercial of California, Inc.<br/> CalDRE #02134436 <br/> Office: (855) 451-1236, ext 300<br/> Website: <a href="https://www.expcommercial.com/" target="_blank" rel="noopener">www.expcommercial.com</a><br/> Address: 2603 Camino Ramon, Ste 200, San Ramon, CA 94583<br/> <br/> | Commercial Real Estate Brokerage: Multifamily, Retail, Office, Mixed-Use, Industrial, Hospitality, Self-Storage, Land |<br/> <br/> <img src="https://ci3.googleusercontent.com/meips/ADKq_NY0_hsRh3zONMFuLDfdVD75jwktAnNfO7pWFgz66qzZFc1BFCZlJKiNIU5Xw0rbhcviFKjkpjQvzb3MNSo6sr3PBfElGc05_stxlG--OYZrcDmdeXwSCB9qIiM0vjMYWUmmagI2cIid3XKV9O9YkzXnz-FNpmqzwoD7vdW8BGy_TPGLMApi7y5SG7ketzhMcQ2Nb0X_XeXtZFyGnALiEXfaSdwx776Kj3onKz4WHX2iDMlgg9m5bumMzn9d-E99C4-jhZCYkBdayZ9CEpi_fJeauc7SwMQOyqrrZdrhpK3UhjeYiJCYOHaiPsvP9EOf6Bt973JGPQRY-9XWyvDF2v4=s0-d-e1-ft#%3Ca%20href=" width="191" height="99"/> <img src="https://ci3.googleusercontent.com/meips/ADKq_NaPmRRoRxXcnNeQJCyt3azCjp0yH-m5Z_TmMxNgfoWjx5F4rnDWoidoonCN8EG6JtT1BsLZ1Y07qTT5YoSCeVkDT9xeWj_Y_2W0Z0DjLU_SozzJ0uPj-QEtSuBVLVvDOkBlCSt_OwkvVF2lRNZHOU8o8-PyTEyHZCbgjSqNIdqczgkHuXn-pJvgBjS4P5nFMRhIyfxHKK4KLM7gPvvECO_Il4gfTrGRW2WK4VH8HjcoVmmTKzajws252JbQumEcg1Zb7eT2c5Nl2vpEM4a0zubxPkQTy8C6Tra1NNqODHxCFP0lyquTjblPnUdaAxH6UKhqaKKZiR38mS--0kRiJ20=s0-d-e1-ft#%3Ca%20href=" width="385" height="96"/></p>
</div>Shovel-ready Commercial? Large Multifamily? Our Fully Licensed Funding Sources are ready NOW!tag:realestatefinance.ning.com,2024-03-08:6517464:BlogPost:4981462024-03-08T21:01:44.000ZDr Ghttps://realestatefinance.ning.com/profile/DrG
<p><a href="https://storage.ning.com/topology/rest/1.0/file/get/12398112282?profile=original" target="_blank" rel="noopener"><img src="https://storage.ning.com/topology/rest/1.0/file/get/12398112282?profile=RESIZE_710x" class="align-center"/></a></p>
<p><a href="https://storage.ning.com/topology/rest/1.0/file/get/12398112282?profile=original" target="_blank" rel="noopener"><img src="https://storage.ning.com/topology/rest/1.0/file/get/12398112282?profile=RESIZE_710x" class="align-center"/></a></p>SHORT AND LONG TERM BUSINESS AND REAL ESTATE LOANS 50,000 TO 25,000,000 NATIONWIDEtag:realestatefinance.ning.com,2024-03-08:6517464:BlogPost:4986292024-03-08T20:54:09.000ZRichard Milfordhttps://realestatefinance.ning.com/profile/RichardMilford465
<p></p>
<p><span><em><strong>Commercial Real Estate Bridge Loans - No Credit Requirements - Foreign Nationals Accepted Vacant and Partially occupied properties OK Financing for Cannabis real estate projects and for land and hotel properties land loans 200,000 and above </strong></em></span></p>
<p><span><em><strong> …</strong></em></span></p>
<p></p>
<p></p>
<p><span><em><strong>Commercial Real Estate Bridge Loans - No Credit Requirements - Foreign Nationals Accepted Vacant and Partially occupied properties OK Financing for Cannabis real estate projects and for land and hotel properties land loans 200,000 and above </strong></em></span></p>
<p><span><em><strong> </strong></em></span></p>
<p><span><em><strong><a href="https://na01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.cognitoforms.com%2FUnitedStatesFinance1%2FCOMMERCIALREALESTATEQUALIFICATIONFORM&data=05%7C01%7C%7C057b8606728b4124df0a08db569338d1%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C638198962528004183%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=C%2BTu2BWZSo%2FJNQ3hR%2FTr9AJ5%2F%2Bch2B8LyU47mWed8PA%3D&reserved=0">Commercial Real Estate Qualification Form</a></strong></em></span></p>
<p><span><em><strong> </strong></em></span></p>
<p><span><em><strong>Property Types</strong></em></span></p>
<p><span><em><strong>Multifamily, Mixed Use, Mobile Home Parks, Office, Retail, Self-Storage, Light Industrial, Warehouse Vacant and partially occupied properties OK with exit strategy </strong></em></span></p>
<p><span><em><strong>fix and flip financing for residential and commercial properties nationwide </strong></em></span></p>
<p><span><em><strong> </strong></em></span></p>
<p><span><em><strong>Loan Amounts</strong></em></span></p>
<p><span><em><strong>$200,000 to $15,000,000</strong></em></span></p>
<p><span><em><strong> </strong></em></span></p>
<p><span><em><strong>Loan Purpose</strong></em></span></p>
<p><span><em><strong>Purchase / Refinance / Cash Out / Value Add Opportunities</strong></em></span></p>
<p><span><em><strong> </strong></em></span></p>
<p><span><em><strong>Loan To Value</strong></em></span></p>
<p><span><em><strong>Up to 75% Of Stabilized Underwritten Value</strong></em></span></p>
<p><span><em><strong> </strong></em></span></p>
<p><span><em><strong>Loan Term</strong></em></span></p>
<p><span><em><strong>12, 18, or 24 Months</strong></em></span></p>
<p><span><em><strong> </strong></em></span></p>
<p><span><em><strong>Foreign National Owners </strong></em></span></p>
<p><span><em><strong>Owner Occupied Properties</strong></em></span></p>
<p><span><em><strong> </strong></em></span></p>
<table width="98%">
<tbody><tr><td></td>
</tr>
</tbody>
</table>
<p><span><em><strong>• No Tax Returns</strong></em></span></p>
<p><span><em><strong>• No Credit Score Needed</strong></em></span></p>
<p><span><em><strong>• Low Expense Deposit</strong></em></span></p>
<p><span><em><strong>• Non-Recourse</strong></em></span></p>
<p><span><em><strong>• Interest Only Payments </strong></em></span></p>
<p><span><em><strong> </strong></em></span></p>
<p><span><em><strong> </strong></em></span></p>
<p><span><em><strong>JUST CALL/TEXT OR EMAIL TO GET PRE-APPROVED!</strong></em></span></p>
<p><span><em><strong>Telephone and Text Number:</strong></em></span></p>
<p><span><em><strong>(541) 515-0666 </strong></em></span></p>
<p><span><em><strong>Websites:</strong></em></span></p>
<p><span><em><strong><a href="https://na01.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.financingmyproperty.com%2F&data=05%7C01%7C%7C057b8606728b4124df0a08db569338d1%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C638198962528004183%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=wIsjqqlCjpujI3DRTfZdPLmDDXUjswZRnqdDhniNuhw%3D&reserved=0">www.financingmyproperty.com</a> and <a href="http://www.commercialmortgagecap.com" target="_blank" rel="noopener">www.commercialmortgagecap.com</a></strong></em></span></p>
<p><span><em><strong><a href="http://www.commercialmortgagecaploans.com/" target="_blank" rel="noopener"></a></strong></em></span></p>
<p><span><em><strong>Email:</strong></em></span></p>
<p><span><em><strong><a href="mailto:milford@commercialmortgagecap.com">milford@commercialmortgagecap.com</a></strong></em></span></p>
<p><span><em><strong><a href="https://na01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.cognitoforms.com%2FUnitedStatesFinance1%2Fmilfordrealestatequalificationform&data=05%7C01%7C%7C057b8606728b4124df0a08db569338d1%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C638198962528004183%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=ySEHMa0%2FF01HHZvNFJS3SezWwkAhvfL%2FnzQEmkTCPT0%3D&reserved=0">Real Estate Qualification Form - Click Here</a></strong></em></span></p>