Digested From “Housing Starts and Permits Hit Nine-Month Highs” MarketWatch (09/17/09) In its latest report on residential construction, the Commerce Department reported that building activity jumped in August to the highest level seen in nine months. The pickup was led by a 25.3 percent surge in groundbreakings on new apartments, which more than offset a [...]
Browsing Posts tagged commercial real estate
Our group recently received a loan commitment from Evanston Financial for just over $10M to cover the construction and long term financing for our 132-unit apartment development. Evanston, an affiliate of Oppenheimer, will package the loan as MAP lender for HUD under the 221(d)4 New Construction Program. The interest rate is currently at 6.0%, plus [...]
Last month I had the opportunity to go out to Surf City with Brian and Lowell to see the area and do some research. We flew into Wilmington, home of the second largest port on the east coast, and drove the rental car about a half hour to Lowell’s townhome overlooking a beautiful sound and [...]
Since commercial real estate often requires a larger down payment than most individuals can come up with, investors usually pool their funds in order to raise sufficient cash to cover the down payment and other acquisition costs. Doing this incorrectly can lead to huge fines from the SEC, not to mention potential liability from lawsuits. [...]
