Author: Randybacon

See how Pinterest is boosting sales for craft retailer Michaels

by Randybaconin Real Estate, TechnologyLeave a Comment on See how Pinterest is boosting sales for craft retailer Michaels

Michaels Companies Inc. reported that it earned $35.7 million in the second quarter.

Irving’s arts and crafts retailer The Michaels Companies (Nasdaq: MIK) is cashing in on the do-it-yourself trend by partnering with a big name in social media.

The company reported Thursday morning net income of $35.7 million for second quarter 2015 after a loss of $48.64 million in Q2 2014. Sales were also up 3.8 percent to $983.27 million.

In an interview with the Dallas Business Journal, CEO Chuck Rubin outlined a few reasons why Michaels’ sales are on the rise, including the company’s partnership with Pinterest. Michaels is one of the first retailers to offer buyable pins, which allows users to click on links and buy supplies directly from the Pinterest website or app.

Read entire article here in Dallas Business Journal.

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Apartment Volume Slides 17% in July

by Randybaconin Real EstateLeave a Comment on Apartment Volume Slides 17% in July

The frantic apartment transaction market of the past few years may finally be slowing.

With $9 billion in transaction activity in July, apartment sales fell 17%, according to New York–based commercial research firm Real Capital Analytics (RCA).

RCA attributed the decline in apartment sales activity to a drop-off in portfolio and entity-level transactions, which fell 65% to $1.2 billion. But RCA noted other problems as well in its report.

Read entire article here in MultiFamily Executive.

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Medical Office Properties Command Investor Attention

by Randybaconin Real EstateLeave a Comment on Medical Office Properties Command Investor Attention

The Affordable Care Act (ACA) has had an impact throughout the health care industry. The new rules and millions of additional patients have pushed many doctors into larger practices, which are now moving into more off-campus properties.

The ACA has added more than 16 million new patients to the health care system, according to the Obama administration. The Act, which brought out more stringent rules for providers, has encouraged many independent physicians to partner with larger organizations, according to a mid-year 2015 Medical Office Report from brokerage firm Marcus & Millichap.

Read entire article here in National Real Estate Investor.

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Construction Lenders All-In for Apartments

by Randybaconin Commercial Mortgage Lending, Real EstateLeave a Comment on Construction Lenders All-In for Apartments

Banks are eager to lend money to apartment developers to build new apartments. “We still get a number of bids for every deal—four to six or more,” says Michael Riccio, co-head of national production for CBRE Capital Markets.

Construction lenders seemed on the brink of tightening their lending standards earlier this year. Experts worried too many apartments were already under construction and vacancy rates were about to rise. But this spring, demand for apartment properties continued to grow, powering yet another strong season of rising rents—and construction lenders are eagerly making loans to new development projects.

Read entire article here in National Real Estate Investor.

Surge in Commercial Real-Estate Prices Stirs Bubble Worries

by Randybaconin Commercial Mortgage Lending, Real EstateLeave a Comment on Surge in Commercial Real-Estate Prices Stirs Bubble Worries

Investors are pushing commercial real-estate prices to record levels in cities around the world, fueling concerns that the global property market is overheating.

The valuations of office buildings sold in London, Hong Kong, Osaka and Chicago hit record highs in the second quarter of this year, on a price per square foot basis, and reached post-2009 highs in New York, Los Angeles, Berlin and Sydney, according to industry tracker Real Capital Analytics.

Read entire article in Wall Street Journal here.

High Leverage for Apartment Loans Troubles Moody’s

by Randybaconin Commercial Mortgage Lending, Real EstateLeave a Comment on High Leverage for Apartment Loans Troubles Moody’s

With prices so high for apartment properties, any loan based on today’s appraised values is going to look very large compared to historic prices. But  multifamily CMBS loans are especially troublesome, according to Moody’s Investors Service.

“The credit quality of U.S. conduit/fusion commercial mortgage-backed securities (CMBS) continues to deteriorate, with conduit loan leverage in the second quarter pushing past its 2007 peak,” reads a July report from Moody’s.

Read entire article in National Real Estate Investor here.