BY ANDREW TANGEL
STAFF WRITER | NorthJersey.com
Commercial property foreclosures jumped in North Jersey and statewide in the first quarter, a sign of continued economic strain and distress in the recovering commercial real estate market.
Bergen County had 42 actions filed by lenders and loan services seeking to seize income-producing properties in the first quarter, nearly double the 22 commercial foreclosures from the same period a year ago, according to statistics provided by the New Jersey Judiciary.
Among the properties: a shopping center in the Meadowlands, a multifamily residential development in Rutherford and a funeral home in Hackensack, according to court documents and commercial real estate data provider CoStar.
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By: Jacqueline Hlavenka | Globest.com
“The CPPI continues to bounce along the bottom as a large share of distressed transactions preclude a meaningful recovery of overall market prices at this time,” says Tad Philipp, Moody’s director of CRE research, in a statement. The index is now at its lowest point post peak, 47% below its October 2007 peak. “Indeed, the post-peak low in price has been reached in the same period as a post-peak high in distressed transactions has been recorded,” he says. Read more... (177 words, 2 images, estimated 42 secs reading time)
From: CoStar.com
By Mark Heschmeyer
May 11, 2011
In February and March, the CMBS delinquency rate posted its smallest rates of increase since mid 2009. Those statistics, along with the view that CMBS lending was beginning to pick up steam, led many to believe that the worst was behind the CMBS market.
In April, however, the delinquency rate for U.S. commercial real estate loans in CMBS increased significantly, jumping 23 basis points. That puts the rate at 9.65% once again, the highest reading in the history of the CMBS market, Trepp data shows.
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Las Vegas is for sale in commercial real estate auction
By: KTNV, Las Vegas, NV
The foreclosure crisis in Nevada has affected not only homes but local businesses and strip malls. Now, many commercial real estate companies are going up for auction in Las Vegas…
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