The eagerly anticipated and long-awaited sequel for the commercial mortgage backed securities (CMBS) lending saga is a sure blockbuster in a commercial real estate industry starved for debt capital.  As the banks and Wall Street prepare for another romance, investors should expect fewer thrills.  This plot will have less to do with the supply of capital and more to do with the supply of property that can conform to more conservative underwriting criteria.  In ... Read more

Triple Net leased retail properties such as restaurants, drug stores, dollar stores, auto part stores and banks, remain one of the healthier sectors of commercial real estate due to continued strong demand by private investors seeking 1031 exchanges, and by various funds.  Investment sales volumes increased in 2010 over 2009, compressing cap rates 50-100 basis points, particularly for Class A product.  Causes of this boost in demand included the impending expiration of the Bush-era ... Read more

Effective January 1, 2011, California’s newest anti-deficiency statute applies to short sales. Newly enacted Code of Civil Procedure section 580e prohibits a deficiency judgment where: (1) the obligation is a note secured by a first deed of trust; (2) the property is a dwelling of not more than four units; (3) the short sale is made with the written consent of the note holder; and (4) the borrower/trustor is not a corporation or a political subdivision ... Read more