Author: Randybacon
Commercial Real Estate Lender That’s Reaching Way Past Arkansas
The focus in commercial real estate finance is often on big national banks like JP Morgan or big foreign ones like Deutsche Bank, but it would be a mistake to overlook the Southern lender that’s been making waves in the commercial real estate industry, bringing a little bit of the Ozarks to the world of high finance.
Bank of the Ozarks, based in Little Rock, Ark., broke into CrediFi’s ranking of the top 10 New York City lenders in the fourth quarter of 2016 with over $500 million in loan originations and a 3.0 percent market share.
The bank had previously made the list in the first quarter of 2016, ranking as No. 7, with over $400 million in financing and a 2.4 percent share of New York City’s commercial real estate market, but dropped from the top 10 list in the second and third quarters.
View entire article here in National Real Estate Investor.
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Commercial Real Estate Use Is Changing
The practice of taking an existing structure and repurposing it for some other use is not necessarily a new idea. This practice of adaptive reuse has, however, become increasingly common in the apartment industry.
No single reason explains this boom; it is a combination of factors. But one factor that is easy to point to is the fact that people enjoy living downtown. Renters have proven this over time by their willingness to pay more for urban core units.
Without deeply discussing principles of urban geography, one can see many structures that handily lend themselves to adaptive reuse in or near downtown areas. As cities evolved, centrally located buildings that once served a non-residential purpose (e.g. mills, factories, warehouses, etc.) are now placed in areas that present attractive residential opportunities.
View entire article here in Forbes.com.
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Study: Restaurants deliver halo effect for retail centers
For the first time ever in 2016, U.S. restaurant sales eclipsed grocery store sales — and that’s good news for retail centers
The amount of space dedicated to food in retail centers has grown from 5% in 2007 to 15% today. And the trend is expected to increase to 20% by 2025, according to a study, “The Successful Integration of Food & Beverage within Retail Real Estate,” from the International Council of Shopping Centers (ICSC).
“The increasing popularity of dining out is revitalizing retail real estate around the globe by creating a true sense of community where people can go out to dinner, take in a movie and shop, all in one place,” said Tom McGee, president and CEO of ICSC. “Centers that are strategic and innovative when incorporating foodservices are sure to reap benefits such as increases in foot traffic, dwell time and number of visitors.”
Restaurants deliver for retail centers
The two main factors driving the growth are technology advancements and the rise of an experience economy, which was fueled by millennials and adopted by all generations.
View entire article here in Chain Store Age or download report from ICSC.
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Sears Plummets After Citing ‘Substantial Doubt’ About Future
(Bloomberg)—Sears Holdings Corp. suffered its worst stock decline in six weeks after acknowledging “substantial doubt” about its future, raising fresh concerns about whether a company that was once the world’s largest retailer can survive.
Sears added so-called going-concern language to its latest annual report filing, suggesting that weak earnings have cast a pall on its ability to keep operating. The 131-year-old department-store chain, which has lost more than $10 billion in recent years, was cited last year by Fitch Ratings as a company at high risk of defaulting.
The disclosure comes after more optimistic signs from the company, which has been working on a turnaround under Chief Executive Officer Eddie Lampert. Sears posted a narrower loss than predicted in the fourth quarter, and it has pledged to lower its debt burden and cut annual expenses by at least $1 billion. That upbeat assessment had helped propel the stock in recent weeks. The shares had gained more than 60 percent since Feb. 9.
Article republished from Bloomberg can be viewed on National Real Estate Investor
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