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What is the credit crunch? Joe Reilly, president/CEO of Centrix Bank sits down to explain what it is and how it works. He also talks about commercial lending around the country and in New Hampshire.
I work for a commercial real estate company and I was wondering if anyone had any great ideas for getting our spaces leased? Besides the obvious ones like signs or Craigslist? If you lease a space, what sold it to you and what would be helpful to put on our signs in our windows? Thanks
Commercial mortgage brokers, focus their practice on commercial properties. There is little differences between commercial mortgage brokers and residential mortgage brokers. The main difference obviously is that one broker focuses on commercial lending and the other focuses on residential lending.
A Commercial mortgage broker is a middle man of sorts. He works for businesses to secure lending for property that will be used for business purposes. There is a commission for this service that the broker provides. Typically the commission is a percentage of the overall loan. This fee is usually rolled into the loan. The idea behind the practice is that a broker can “shop” the loan for the best rates and overall best deal.
Typically a commercial mortgage broker will have relationships in place with lenders and can easily view a loan application and know where to apply, this cuts back on the time it would take for a business to shop their own loan application. The broker acts as a go between the lender and the business and will advise the business of an special requirements that the lender will have to secure the funding.
Commercial lending is a lot more complex than residential lending. There is more paperwork to fill out, and most commercial loans start at a minimum loan amount. In addition there are more lending options available for commercial funding then there are for residential funding.
Commercial mortgage brokers are a good option for businesses because they take the responsibility off the shoulders of the business to secure financing to build the business or to expand an existing business.
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Gurgaon has been come of an edge where it has been transformed into an Electronic City from a small town. Rude red lands at the outskirt of metro city of Delhi have been evolved into a high tech commercial city being constantly under the scalpel of property developers. Consistent and contemporary construction processes taking place are creating high end commercial edifices here. Knowing that the targeted segment of property buyers and investors look for state of the art office spaces that are well equipped with high standard amenities and facilities which mostly prevail in international office spaces – office buildings house international style from exterior to interior. As a result, Gurgaon is increasingly becoming the most preferred hub of MNCs, IT, BPOs, and other types of companies.
Apart from lofty skyline with buildings carved in latest science of architecture in Gurgaon, there are some more reasons that boost up the prices of properties here. The crime rates in Gurgaon are very much in control and lowering. Other reasons why this is one of the most sought after property zone in India include connectivity of roads and highways [the expressway to Jaipur], NH8, extended route of Delhi Metro Rail connection, closer proximity from domestic airport and IGI airport etc.
Mushrooming of malls and prevailing of high quality civic amenities provide employees working at the office spaces that are nestled at the Gurgaon based commercial properties India wide options to meet their demands for good lifestyle. Not only that, fast developing residential buildings in Gurgaon help people working in Gurgaon based offices find beautiful homes to settle within shorter distances.
Numerous projects have already landed up and innumerable projects are yet to be complete and under the construction planning. Some of the major corporate buildings to make Gurgaon a commercial haven include InfoCity, IMT Manesar, Cyber Green, Pace City, Udyog Vihar etc. Developers have made available High rated projects at the same line with medium and small sized projects to meet all kind of requisition of commercial properties buying and investment along with detailed information on structural design, construction work with material, sanction of building plan, no objection certificate and completion certificate of building etc.
Ankita Tyagi is expert content writer on real estate and property India. For more details on residential and commercial property gurgaon visit:- NextGenProperty.co.in
IT companies likely to spur demand in near term…
While property prices in cities of Delhi, Gurgaon and Noida float at unprecedented levels–the tourist attraction of Jaipur–has been coming up as a potential destination for real estate developers and investors.
Especially, the segment of commercial real estate in Jaipur is quite upbeat for the past one year and a number of business conglomerates are making a beeline to set up their offices in the city, famous as pink city of India, says Anurag Sharma of New Age Consultancy.
In fact, some of the biggest corporate houses have already forayed in this capital city of Rajasthan, with their ambitious projects. Recently, international steel baron LN Mittal announced to establish a technology institute in the city, spread in more than 100 acre. Healthcare majors like Apollo and Escorts, at other end, have also expressed interest in setting up their ultra-modern facilities in Jaipur.
Growth drivers
The biggest advantage that Jaipur Properties offer is that of “cost”. Definitely, the capital prices and rentals of commercial properties in Jaipur are far less in comparison with the cities like Delhi, Bangalore and Mumbai. Thus, a business organization can substantially cut down its costs by operating from Jaipur.
Secondly, the city boasts of an impressive connectivity via all the modes of roads, railways and air, and is well-linked with nearly all the major cities of India. Take the instance of its international airport, the only one in Rajasthan.
Furthermore the availability of land is not an issue in Jaipur, and unlike the big cities, a firm can acquire large chunks of land in the prime locations to build their offices. Owing to these reasons, it makes a sound business proposition for companies to operate from this city. Nevertheless, a lot of companies have identified these advantages and trying to capitalize on the same.
The IT hopes
According to Knight and Frank, a consultancy firm, sufficient availability of land is something that can convert Jaipur into next IT destination of India. Meanwhile, BPO (Business Process Outsourcing) major Genpact has already established a huge facility in the city and mammoths like Infosys and Wipro have also expressed their interest in establishing their offices in Jaipur.
Nonetheless, Delhi-based Vatika group is developing a huge 800-acre infotech city in Jaipur, while the Rajasthan government has also started offering land to IT companies, on subsidized rates.
With this, commercial properties in Jaipur are likely to undergo a boom time as more and more business houses come to the city, professionals from the real estate industry of Jaipur say.
George Gonigal provides you the best and latest info on Chandigarh Real Estate.
www.CommercialMortgageTips.com Are you a Professional in need of financing? Don’t go to your local Bank or the SBA. They won’t have my 100% Financing For Professionals loan. 561-208-6469.
Real Estate Newsmakers
Sales Associate Nicholas “Nick” J. Cartabona, of Pequannock, has joined the Century 21 Preferred Realty, Inc., Pompton Lakes office. The announcement was made by Jeff Montemarano and Maryann Brown, brokers/owners.
Read more on The Record and Herald News
Real Estate Technology Contests and Start-Ups Featured at Real Estate Connect SF July 13-15, 2010
Inman News’ annual San Francisco real estate technology conference, Real Estate Connect, held at the Hilton San Francisco Union Square on July 13-15, 2010, will feature a number of innovative and cutting-edge companies, start-ups, sponsors and speakers focused on the future of technology in real estate.
Read more on PRWeb via Yahoo! News
REAL ESTATE AGENCIES
Apartment Rental Service (STN) (show on map) Working in the hospitality industry since 1999 and being engaged in the acquisition, holding and management of hotels and real estate properties, the STN company has built up an impressive record of success by bringing together three essential elements: a commitment to guest comfort and satisfaction, a staff of dedicated professionals, and an …
Read more on St. Petersburg Times
BRENNER REAL ESTATE GROUP CLOSES SALE OF DON CARTER ALL STAR LANES IN BATON ROUGE, LOUISIANA
FORT LAUDERDALE, FL & BATON ROUGE, LA – Brenner Real Estate Group , a full service commercial real estate firm based in Fort Lauderdale, has announced that Bert Freehof, Vice President, Brokerage, has negotiated the sale of a family entertainment center, complete with a state-of- the- art, 64-lane bowling center in Baton Rouge, LA.
Read more on dBusinessNews.com
A musical parody of the traditional song “O Christmas Tree (O Tannenbaum),” about commercial real estate. Lead vocal: JANIS LIEBHART Background vocals: ANGIE JARÉE, JANIS LIEBHART, GARY STOCKDALE Music Director: GREG HILFMAN For the complete collection of VERSUS political musical parodies, visit us at versusplus.com.
www.CommercialMortgageTips.com For All Of Your Commercial Lending Needs Call toll free 800-553-3442. What about AFTER The Commercial Financing? Join Our (FREE) Private Club For Entrepreneurs!
RBI raises key rates by 25 basis points
Mumbai, Jul 2 : The Reserve Bank of India (RBI) today raised the short term lending and borrowing rates by 25 basis points with immediate effect to contain inflation.
Read more on New Kerala
RBI raises key rates by 25 basis points
United News of India Mumbai, July 2: The Reserve Bank of India (RBI) today raised the short term lending and borrowing rates by 25 basis points with immediate effect to contain inflation.
Read more on Central Chronicle
Federal Home Loan Bank Debt Falls in June After Rising in Prior Two Months
The Federal Home Loan Bank system, the government-chartered cooperatives owned by U.S. financial companies, cut its outstanding debt by $25.9 billion in June after increases the previous two months.
Read more on Bloomberg
Arbor Closes $1.68M Loan On Worcester Apartments
Arbor Commercial Funding LLC, a wholly-owned subsidiary of Arbor Commercial Mortgage LLC, has funded a $1.68 million loan under the Fannie Mae DUS Small Loan product line for the 30-unit complex known as William Street Apartments in Worcester.
Read more on Banker & Tradesman