Archive for February, 2010
NAI Global has formed a Special Asset Solutions™ group to assist clients with financially distressed real estate assets and REO.
The new group concentrates NAI Global’s resources across multiple disciplines and markets to provide banks, financial institutions, special servicers and other holders of REO assets with the full spectrum of services an asset is likely to require throughout the ownership cycle. The group’s offerings include loan sales and restructurings, asset and property management, receivership, due diligence, valuation, leasing and disposition. More >
Commercial real estate markets around the world experienced the full impact of the global economic recession in 2009, according to the 24th annual Global Market Report released by NAI Global. Rising vacancy rates and declining rental rates were evident in virtually every market sector and geography, with weak demand and a growing supply of sublease space further eroding market fundamentals.
After a turbulent 18-24 months since the market peaked, 2009 marked a year where transaction volume nearly came to a standstill as corporate tenants waited for clear signs of recovery and investors remained on the sidelines waiting for signs the bottom has been reached. As the year progressed, government intervention in the form of stimulus packages in the U.S., Europe and parts of Asia took hold and by year’s end many markets had begun to stabilize. However, with U.S. unemployment topping 10%, consumer demand and spending power at their lowest levels in decades and international manufacturing and trade proceeding at a crawl, the global recovery will take some time to truly stimulate economic growth. More >
Norris, Beggs & Simpson Companies announced its top producers at the commercial real estate firm’s annual awards banquet January 30. Garret Harper of the Vancouver office was named Number One Top Brokerage Producer. Jennifer Medak and John Medak (tied for 2nd), Scott MacLean and Steve Dodds rounded out the Top Five. Ken Griggs was named Finance Officer of the Year, and Mark Winder was honored as Manager of the Year. More >