BlackSwan Zine

Some developers and building owners opt to stop paying mortgages to get better loan terms

Though sometimes considered the stepchild of the real estate investment trust industry, non-traded public REITs are proving to be a popular new source of investment capital for the commercial real estate industry.

The financial crisis of 2007-2009 has made a major dent in CRE asset values. As the economy starts a slow recovery, these values are now beginning to stabilize, although some adjustment is still due. A recovery in values is expected eventually to follow this stabilization. Commercial real estate investors are naturally asking how one makes money in such a market. Do you buy now, or sell?

The Oakland County Economic Development Corp. will decide Thursday morning on final approval for up to $28 million in bond financing for the Michigan Motion Picture Studios L.L.C. film studio proposal on General Motors Co. Centerpoint Business Campus in Pontiac.

Advocate BroMenn Medical Center plans to build a $24 million, 90,000-square-foot facility on a portion of the 111-acre Empire Business Park on Empire Street east of Airport Road, and a Bloomington business owner is considering constructing a community aquatic center there as well.

The anemic economy has brought most local commercial development to a standstill. But it has not put the brakes on medical office construction.

A small, suburban, Bank of America building in Hobe Sound, FL, sold for $1.9 Million in cash, or $127 per square foot. The buyer was DiVosta Investments of Palm Beach Gardens.

Back in the 1980s, the City of Canton just missed pulling off an economic and community development coup.

Dallas-based commercial real estate firm GVA Cawley said Tuesday that it is expanding its three-year-old healthcare division to take advantage of increased demand in that sector.

Northeast Health will break ground June 2 on phase five of its Beverwyck retirement community in Slingerlands, N.Y.