Commercial Real Estate Loans & Investment Sales

Abatement

Abatement - A reduction or decrease. Usually applies to a decrease of assessed valuation of ad valorem taxes after the assessment, and levy.

See our full commercial real estate financing related glossary of terms.

Tax Law Overhauls Could Be Crisis Issue for Net-Lease, Sale-Leaseback Environment

Article by Barbara Jarvie Via GlobeSt.com

Nothing ever stays the same--and certainly not the tax code. In fact, in his most recent State of the Union address on Jan. 7, President George W. Bush called the current tax code “archaic and incoherent” and appointed a bipartisan advisory panel to study reform options. The nine-person panel is scheduled to report its recommendations on July 31. Depending on the results of this latest reform effort--the biggest one undertaken since 1986, when the tax code underwent a major overhaul--these changes could have a tremendous impact on the commercial real estate industry, particularly on tax-deferred 1031 exchanges, darling of many a real estate investor. Some observers even fear that eliminating or gutting the 1031 exchange is a possibility in the latest round of changes.

See full article >

For information about Pacific Security Capital commercial real estate loans contact us at 1-800-844-6085.

Weak Job Growth Stunts Growth In Pittsburgh

Article By Maura Webber Sadovi Via Wall Street Journal's RealEstate Journal

Pittsburgh's troubled commercial real-estate market, suffering from lackluster job growth and a stagnant population, has largely missed out on the national property boom.

The pain has been particularly keen for the office market. Although first-quarter office vacancy rates inched down from the year-earlier period, office rents are expected to fall in the near term and rise only 1.9% annually through 2009, just under half the forecast average national rate, according to Property & Portfolio Research Inc., a Boston-based real-estate research firm.

The dollar volume of office sales in Pittsburgh has lagged behind nearby cities like Baltimore and Philadelphia and prices have stayed low, according to Real Capital Analytics, a New York research firm. The region's office space sold at an average price of $71 a square foot in 2004 compared with the national average of $165 a square foot.

See full article >

For information about Pacific Security Capital commercial real estate loans contact us at 1-800-844-6085.

Abandonment

Abandonment:  The voluntary relinquishment of rights of ownership or another interest (such as an easement) by failure to use the property, coupled with intent to abandon (give up the interest). More commercial real estate finance glossary terms can be found on the PSC Glossary of Real Estate Terms page.

Demand for Office Space Continues to Improve

Article by Ryan Chittum Via the RealEstate Journal

The office market expanded strongly in the second quarter as companies leased more space, a sign they expect to expand their work forces. Office-building vacancies tumbled to their lowest level in three years, and rents registered their second quarterly increase in a row after four years of declines.

The national vacancy rate dropped to 15.4% in the second quarter from 15.9% in the first quarter, according to the survey of the top 67 U.S. office markets by Reis Inc., a New York-based real-estate research firm. Rents jumped 0.7% in the second quarter to $20.32 a square foot a year from $20.18 a square foot in the first quarter. That builds on a 0.6% jump in the first quarter, which was the first rent increase in four years.

Absorption -- the net change in occupied space -- was a strong 19.5 million square feet in the second quarter, the second-best performance since the fourth quarter of 2000 and nearly double the 10.4 million square feet absorbed in the first quarter.

View full article >

For information about Pacific Security Capital commercial real estate industry services contact us at 1-800-844-6085.

Commercial Real Estate Investment Bank, Pacific Security Capital, Expands PacificElite™ Client Loyalty Rewards Program to Encompass All Service Lines

Pacific Security Capital a leading commercial real estate investment bank providing commercial real estate loans, structured finance, investment sales and advisory services, is expanding its PacificElite™ client loyalty rewards program to incorporate all service lines.

PacificElite, the commercial real estate industry’s first client loyalty program designed to reward those clients who place substantial amounts of transactional volume with Pacific Security Capital, has received overwhelming response since its launch in January 2005.

“We are thrilled by the enormous success of PacificElite,” said Mike Myatt, Executive Managing Director, Pacific Security Capital. “By expanding the program to include all lines of service, Pacific Security Capital can now reward customers that engage with us for investment sales and commercial real estate advisory services, and not just commercial real estate loans and structured financing.”

Pacific Security Capital customers will now be able to receive PacificElite points for engagement in professional services including investment sales; commercial real estate advisory services, capital markets, development services, and more.

Pacific Security Capital offers a complete range of professional advisory services.

“Customers truly find benefit in the PacificElite program,” said Myatt, “whether Pacific Security Capital is financing a transaction or providing buy-side, sell-side or advisory services, they will receive PacificElite points that are accumulated and then cashed in for a variety of elegant rewards.”

Rewards available to PacificElite members include fractional interests in Lear Jets and Yachts, Adventure Vacations, Luxury Automobiles, trips to the Masters, Wimbledon and the Super Bowl, Rolex watches and more.

Find more information on becoming a PacificElite member or call 1-800-844-6085.

About Pacific Security Capital
Pacific Security Capital is a leading commercial real estate investment banking firm providing commercial real estate loans, structured finance, investment sales and advisory services. The combination of direct lending, advisory, intermediary, corporate and professional services, syndication and acquisition services consistently allow PSC to rank among the leaders in the industry. PSC is headquartered in Beaverton, Oregon with other offices in major markets in North American and Europe.
###

Press Contact: Karen Sams
Company Name: Pacific Security Capital
Email: ksams@misukanisodden.com
Phone: 952-400-0234
Website: http://www.PacificSecurityCapital.com

tags: commercial real estate loans, structured finance, investment sales, advisory services

Dept. of Treasury, Real Estate Groups Call for TRIA Extension

Article by By Kristin Olson Via Commercial Property News

The United States Department of Treasury's report on the effectiveness of the Terrorism Risk Insurance Act, released yesterday, stated the act was widely effective and affordable. With a few changes made to the current act, due to expire December 31, the Administration would accept an extension, according to a letter signed by Treasury Secretary John Snow.

Many real estate related industries are calling for an extension. The Mortgage Bankers Association, for example, wants an extension of the act until challenges in predicting terrorism risk and the loss probability can be resolved through a thoughtful solution.

The MBA is not alone in believing an extension of the program is necessary. The Coalition to Insure Against Terrorism, a group consisting of 75 companies, mostly real estate related, and the National Association of Insurance Commissioners, agree with the MBA that terrorism insurance is critical and stand by the department's report.

According to statements from these companies, without a TRIA extension, commercial real estate investment markets will become dysfunctional, rating agencies will place loans on watch lists, the cost of insurance will increase, and it will have a destabilizing affect on rates--all conspiring to produce a net loss for consumers.

See full article >

For information about Pacific Security Capital commercial real estate investment services contact us at 1-800-844-6085.

tags: commercial real estate investment, commercial real estate loans