This month, Sam Chandan, PhD, Global Chief Economist of Real Capital Analytics, provides a 2011 forecast for the industry. He cites sales that are double those of 2009 with stronger equity and debt markets, but acknowledges the unevenness of the recovery. Here’s his perspective on the credit markets.
Trillions in Commercial Loans Come Due
Access to credit remains the number one challenge for commercial real estate. You’ve no doubt heard that approximately $1.4 trillion in commercial real estate loans will come due by 2014, and roughly 65 percent these borrowers will encounter significant trouble refinancing. Troubling as this is, credit availability for the fragile industry would be further reduced, if the Financial Accounting Standards Board (FASB) finalizes its proposal to expand mark-to-market accounting for all loans on banks’ balance sheets.
What’s New at CommercialSource.com?
Changes and enhancements to CommercialSource.com caused a stir in commercial REALTOR® circles recently. The phone’s been ringing and we know members have questions. To be top dog at the water cooler, here are three things you need to know:
CCIM Institute Launches Hybrid Courses
Adding convenience and flexibility to a student’s progress through its core curriculum, the CCIM Institute is offering a new hybrid course structure beginning in February 2011 for its four core courses: CI 101 Financial Analysis for Commercial Investment Real Estate, CI 102 Market Analysis, CI 103 User Decision Analysis, and CI 104 Investment Analysis.
Welcome Bill Armstrong, GRI – NAR’s 2011 Treasurer
How fortunate we are to have Bill Armstrong as NAR’s new treasurer. For the second consecutive term, a national officer is a commercial broker. A REALTOR® for more than 27 years, Bill is vice president of Mackintosh REALTORS® in Frederick, Maryland. “It’s quite satisfying to know Mr.Armstrong will continue the strong advocacy for commercial practitioners NAR has worked so hard on in recent years,” said Jan Hope, vice president, NAR Commercial Division.
Society of Industrial and Office REALTORS®
David J. Zimmer, SIOR, FRICS and Richard Hollander, EVP – SIOR traveled to the MIPIM conference in Cannes, France last month. Attended by influential real estate professionals, the meeting facilitates exploration of major international property development, connection with potential partners, and transacting deals.