On March 20, 2020, the CRE Finance Council hosted a great conference call entitled, “The Impact of COVID-19 on the Commercial and Multifamily Real Estate Property & Finance Markets.” Like many of us in the commercial real estate world, I’m anxious to get my arms around what impact, both short and long term, the COVID-19
Mission Possible: Combining HUD Construction Financing with Historic Tax Credits
Combining HUD-insured multifamily construction financing (like Section 221(d)(4) loans) with historic tax credits (“HTC”) can seem like an impossible feat given their respective mazes of rules and requirements. Notwithstanding, each are valuable sources of capital for developing multifamily projects, and, if you can manage through those mazes, HUD financing and HTCs can be successfully combined.
Field Notes from the 2015 Novogradac Historic Tax Credit Conference: Section 50(d) Income
I recently returned from Novogradac’s 2015 Historic Tax Credit Conference held last week in San Antonio, Texas. This national conference draws a wide range of professionals, investors, and developers who share a love of historic properties and work in the historic tax credit space. While a wide range of topics were discussed, the “hot topic”
The Exception that Swallowed the Rule
Nonrecourse loans are popular among commercial real estate owners because the Lender agrees only to seek recourse against the real estate and other collateral securing the loan in a default or loss situation. Unless the loss is caused by a “bad boy act”, the borrower and/or principal will not be held personally liable. Bad boy
The Commercial Real Estate Loan Market, Part 3:Opportunities
Parts 1 and 2 of this series on “The Commercial Real Estate Loan Market” examined differing views on the fallout of current and anticipated loan failures in the commercial real estate (“CRE”) industry. While all agree that losses will be significant, just how significant remains to be seen. Unfortunately, we don’t have a crystal ball
The Commercial Real Estate Loan Market, Part 2: The Cloudy with Clearing Skies Ahead Scenario
In contrast to the recent position taken by the Congressional Oversight Panel in their February 10, 2010 report mentioned in Part 1 of this series, there are economists, businesspeople and policymakers who have a less bleak forecast for the commercial real estate (“CRE”) loan market. One such example of this “non-crisis” position was presented in
The Commercial Real Estate Loan Market, Part 1: Cloudy with a Chance of Crisis
The commercial real estate (“CRE”) loan market is floundering and is expected to increasingly experience high levels of losses over the next several years. The question on interested minds is whether the fall-out from CRE loan failures will mimic the devastation caused by the crisis in the residential mortgage loan market. Recently, the Congressional Oversight
Buy Swampland in Florida? Or, just a Bad Case of Buyer’s Remorse? Discontent with Interstate Land Sales Full Disclosure Act
“I have some prime swampland in Florida to sell you” is a slang expression used to poke fun at the gullibility of a person. This saying is based on events of the 1960s and 1970s where local scammers would attempt to induce out of state purchasers to acquire “lucrative” land which, in reality,