Posts tagged NAI Global
Open the Wednesday real estate section of The Wall Street Journal or an email communication from one of the major real estate business journals and you can’t miss seeing that dozens of commercial real estate auctions occurring weekly throughout the United States. More >
Loan sales represent a large volume of the distressed asset transactions that have been closing so far in 2010. Lenders and special servicers’ decisions to hold or sell specific loans are generally based on a net present value (NPV) analysis of each asset. This critical analysis accounts for the respective costs to the lender if the loan is held or acquired as REO; the capital required to then stabilize and manage the asset; and the time required to foreclose (in some states, this can be longer than a year). With certain markets and asset values of some property types continuing to deteriorate, the conclusion is often that a loan sale makes more sense to the lender than a hold. More >
The property due diligence package is an important tool in marketing any property efficiently and effectively. By preparing the due diligence package early in your process of putting the property on the market, the information provided should better qualify any potential buyers and allow you to focus and negotiate with “real” buyers who understand what is available for sale.
NAI Global is very active in helping banks sell distressed assets. Most observers would agree in the last 20 years United States banks have become more complex. Lines of business have grown; transactions have become increasingly complex with multiple borrowers with divergent interests; multi-tiered loan structures became common and crafty lawyer inspired special provisions are sprinkled in here and there. During the same time period, however, commercial real estate transactions have also become far more complex. The complexity of transactions is a significant management problem in and of itself. Information overload often forces bright, hard working bank employees to make mistakes just because the time or experience is not available to fully understand the details of a transaction. More >
I am in Panama currently for business and also to help get up and running our new operations here. In case I have not mentioned it, NAI now has an office in Panama!! Yes. True. While our competition continues to backtrack in the region, we see the opportunities and advance on them. This is a very newsworthy and important event for us. Newsworthy because given the small size of the market (population of only 3.5 million) it would seem that it is not yet mature enough for a Commercial Real Estate organization to spend effort, time and money developing it. Au contraire, this is a very dynamic market that we believe will become something akin to the Singapore of the Americas. That is where the “Important” part of this comes in. There is so much opportunity and potential opportunity that our Panama presence is a priority for us. I can speak of the facts that the Panama Canal is currently being widened at a cost of US$5.25 billion that will double transit capacity and allow passage of the largest container ships at 12,000 TEU, its continued unprecedented economic growth rate over the last five years that did not decrease below 5% and reached over 10% in 2008, the continued residential and commercial construction and strong absorption during the height of the global economic (or perhaps mostly US and EU) economic crisis, the Panamanian government’s varied investment incentives to both individuals and firms, its commitment to widespread and proactive infrastructure development (unlike most other Latin American governments), the low personal and business tax rates, its logistics hub not only for goods but also for travellers (the airport has direct flights from most major cities), etc. And there is more, but why get tedious. I think the message is there. More >