Posted on: September 10th, 2012 by admin@cpp
A report from CoStar showed that while overall lending was relatively flat for the second quarter, investment and multifamily properties experienced an improved situation.
Total commercial real estate lending during the second quarter was 0.4 lower than the first quarter, according to the report. This may suggest that the Atlanta commercial real estate situation experienced relatively stable lending during the period.
Investment and multifamily properties experienced a quarterly rise of 1.6 percent, while lending jumped 4 percent from the same point last year, CoStar explained. Nonresidential commercial real estate properties experienced a 0.5 percent increase during the quarter when compared with the previous three months. In addition, when examining the figure compared to the same point last it, it was approximately 9 percent higher.
Foreclosed properties declined by more than 12 percent quarter-over-quarter, as well as nearly 30 percent year-over-year, the report added. The level of foreclosed properties held by banks dropped by $1.74 billion during the quarter. This brought the figure down to $25 billion held by financial institutions nationally.
If you own or are considering a commercial building purchase or lease, contact Daniel Levison or Furman Wood of Commercial Property Professionals. They can be reached at 404-848-1776.
Source: http://www.cpprofessionals.com/cre-news/some-cre-aspects-show-strong-lending-trends-23698
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