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Mid Atlantic Real Estate Journal
Mid Atlantic R eal e state J ouRnal Publisher ............................................................................ linda christman Publisher ............................................................................... Joe christman Publisher/Senior Account Executive ................................. elaine fanning Section Publisher .................................................................... Steve Kelley Section Publisher ...........................................................Janine Hennessey Senior Editor/Graphic Artist .................................................Karen Vachon Production Intern .........................................................................Julie King Office Manager ................................................................... Joanne Gavaza Guest Columnists ............................. Stan freeman, Scott Hartstein, Sanford Herrick, pamela a. michaels, esq., Steve milona and Brent Shaffer esq. Mid Atlantic R eal e state J ouRnal ~ Published Semi-Monthly P.O. Box 26 Accord, MA 02018 (Mail) 312 Market Street, Rockland, MA 02370 (Overnight) Periodicals postage paid at Rockland, Massachusetts and additional mailing offices Postmaster send address change to: Mid Atlantic Real Estate Journal, P.O. Box 26, Accord, MA 02018 USPS #22-358 | Vol. 25 Issue 19 Subscription rates: $99 - one year, $198 - two years, $4 - single copy REPORT AN ERROR IMMEDIATELY mare Journal will not be responsible for more than one incorrect insertion Toll-Free: (800) 584-1062 | MA: (781) 871-5298 | Fax: (781) 871-5299 www.marejournal.com The views expressed by contributing columnists are not necessarily representative of the Mid Atlantic Real Estate Journal
By Sanford Herrick, Steve Milona & Scott Hartstein A Window of Opportunity,” Particularly for Transitional Assets
T
he supply of real estate properties will continue to grow, more
assets are changing hands, increased competition for those assets has begun to drive up values and interest rates have started to rise. The bottom line for situational lenders, as well as owners and developers, is that the next few years will continue to provide a window of opportunity. This commercial real estate market investment forecast for the remainder of the year and 2014 is being offered by the principals and co-founders of Case Real Estate Capital LLC, a private direct lender whose middle-market situ- ational lending platform tar- gets transitional assets. Case also has the ability to purchase sub and non-performing loans direct from lenders. In the following commentary, managing principal Sanford Herrick and principals Steve Milona and Scott Hartstein provide a forecast for the highly
profitable opportunities ahead as traditional and institutional lenders continue to shed their sub- and non-performing loan portfolios. Q: Has the pace and height- ened volume of sub-performing properties coming to market started to wane? A: “The number of available properties is actually on the rise and will continue to in- crease well into the coming year and beyond. Interestingly, this trend has not dropped prices be- cause the competition for these properties and this business is mounting. This should continue for at least another two or three
continued on page 20A Q: What is a “typical” profile for today’s value-add prop- erty? A: “A good majority of these years, since so much product – a result of previous price declines – has been on the sidelines. Banks or institutional lend- ers will have more assets that will increase inventory of REO assets, which should increase internal pressure to shed them from their balance sheets as soon as possible,” said Herrick, who has invested in more than $4 billion of commercial prop- erties during the course of his 30-year career.
Contact: Neil A. SteiN (ARVEST $RIVE "LUE "ELL 0! s s www.kaplaw.com Other Offices: s #HERRY (ILL .* s 0HILADELPHIA 0! Kaplin Stewart A t t o r n e y s a t L aw 'ETTING YOU THROUGH THE MAZE OF REAL ESTATE LAW Strategy. Skill. Success.
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