Lancaster PA Commercial Real Estate

John Thiry provides the Lancaster, PA commercial listing brochure as a courtesy to his clients:

Lancaster PA commercial listings – 2010 Spring

CoStar reports that large scale commercial property foreclosure meltdown appears unlikely:

First Quarter Bank Results: Potential for CRE Armageddon Fading

Weakness, Trouble Remain but Healthy Lenders Could Carry CRE Markets to Better Days

By Mark Heschmeyer

April 28, 2010

Although first quarter results of U.S. bank holding companies across the country are unmistakably downbeat about the short-term outlook for commercial real estate in general, and their portfolios in particular, they also hint at a growing sense that the problems are working themselves out.

For starters, banks generally reported that troubled loan assets were systematically moving through their books. For example, older construction loans on commercial developments and owner-occupied properties were being shifted to term loans, giving borrowers a chance to work through slow cash flow periods.

Read the full article: First Quarter Bank Results: Potential for CRE Armageddon Fading – CoStar Group.

Financing Terms for Borrowers Ease as Lenders Return

Apr 19, 2010 – CRE News

Lenders are returning to the commercial mortgage market, dropping their requirements for borrowers and their targets for returns along the way.

While trophy properties in major markets are seeing most of the increased lender interest, assets in secondary markets are also attracting stronger interest, according to mortgage intermediaries.

Traditional lenders, such as banks, life insurance companies and CMBS lenders, have increased by 5 percentage points the amount of leverage they’re willing to provide for properties to 60-70% for 10-year loans and by 10 percentage points to 65-70% for five-year loans, according to Cushman & Wakefield Sonnenblick Goldman.

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Fitch Sees Cumulative CMBS Defaults Hitting 11% This Year

Loopnet reports from – CRE News:

The cumulative default rate for CMBS conduit loans is projected by Fitch Ratings to climb to 11% by the end of the year from 6.59% at the end of last year.

Through the end of last year, $35.5B of loans in Fitch’s universe of $539B of fixed-rate CMBS loans had defaulted. Last year alone, $17.7B of loans were added to the rolls of defaulted mortgages, with $6B of that being added in the fourth quarter.

In contrast, $17.7B of loans had defaulted between the market’s inception in the early 1990s through 2008.

Fitch said that it expected another 4.4% of the universe it tracks to default by the end of this year, bringing cumulative defaults up to its projected 11% level.

click here to read the full story