973.509.7277
  • Corporate

    The Cleveland Browns’ $5 million, four-month renovation project vastly improves its Training and Administrative Complex in Berea, Ohio. The renovations are designed by the nationally recognized, integrated architecture, engineering, and technology design firm Westlake Reed Leskosky of Cleveland, Ohio, and recently recognized with an AIA Ohio 2014 Honor Award. The new workplace is a thoroughly modern space, respectful of the history and tradition of the Cleveland Browns yet forging a progressive identity for the team, via bold imagery, messaging, team branding and colors. Photography by Kevin G. Reeves.

    Related ArticleMore
  • Healthcare

    Designed by HOK, the new Prebys Cardiovascular Institute in La Jolla, Calif., is conceived to be the region’s largest and most advanced center dedicated to cardiovascular care. Interior spaces support advanced medical treatment, patient care, research, clinical trials and graduate medical education. The seven-story, 167-bed hospital includes 59 intensive care beds, four operating rooms, two hybrid operating rooms, three cardiac catheterization labs and an electrophysiology lab connected to centralized research labs, and a center for graduate education. Stephen Whalen Photography

    Related ArticleMore
  • Government

    The Wayne N. Aspinall Federal Building and U.S. Courthouse in Grand Junction, Colorado, received partial modernization and a high-performing green building renovation by the U. S. General Services Administration, Rocky Mountain Region. The Design-Build Partners were The Beck Group, as Design-Build Contractor and Architect-of-Record; and Westlake Reed Leskosky, was the Lead Design Architect, Integrated Engineer, Sustainable Design and Historic Preservation Consultant. Photography by Kevin G. Reeves.

    More

Corporate

The McMorrow Corporate Facilities Management Report presents news, information, feature articles, conferences, and products and services for commercial/corporate facility executives and administrators, property managers, and specifiers including architects, designers, and engineers charged with maintaining the workplace for optimal productivity, functionality, and retention of the workplace professional.

The McMorrow Corporate Facilities Management Report presents news, information, feature articles, conferences, and products and services for commercial/corporate facility executives and administrators, property managers, and specifiers including architects, designers, and engineers charged with maintaining the workplace for optimal productivity, functionality, and retention of the workplace professional.

Healthcare

The McMorrow Corporate Facilities Management Report presents news, information, feature articles, conferences, and products and services for commercial/corporate facility executives and administrators, property managers, and specifiers including architects, designers, and engineers charged with maintaining the workplace for optimal productivity, functionality, and retention of the workplace professional.

Government

The McMorrow Corporate Facilities Management Report presents news, information, feature articles, conferences, and products and services for commercial/corporate facility executives and administrators, property managers, and specifiers including architects, designers, and engineers charged with maintaining the workplace for optimal productivity, functionality, and retention of the workplace professional.

Sustainable

The McMorrow Corporate Facilities Management Report presents news, information, feature articles, conferences, and products and services for commercial/corporate facility executives and administrators, property managers, and specifiers including architects, designers, and engineers charged with maintaining the workplace for optimal productivity, functionality, and retention of the workplace professional.

CBRE: U.S. lending market conditions remain favorable

CBREHigh investor confidence, attractive equity markets and positive economic indicators have contributed to favorable commercial real estate lending market conditions in Q1 2017, according to the latest research from CBRE.

While the fairly dramatic increase in long-term interest rates that occurred in late Q4 2016 continued into early Q1 2017, its impact on commercial real estate markets has been fairly limited, especially given the more recent decline in Treasury rates.

The CBRE Lending Momentum Index, which tracks the pace of U.S. commercial loan closings, fell by 14.3% in Q1 2017 to 228. Despite this decline, March 2017 lending activity was up by a robust 25.2% year-over-year.

Life companies led all other major lenders in Q1 2017 and increased their share of loans closed by CBRE Capital Markets. They accounted for more than 37% of non-agency commercial loan closings in Q1 2017, up from 34% in Q4 2016, and well above their 27% share recorded in Q1 2016.

While banks maintained their standing as the second most popular lending group in Q1, their market share slipped substantially to 25.5% of loan volume, down from 43% a year earlier. Many key bank interest rates and spreads have not been materially affected by the recent increases in Treasury rates. However, bank construction lending remains limited and banks are selective in granting loans.

“Borrowers generally are optimistic as the U.S. commercial real estate lending market remains favorable despite the Fed’s policy of raising short-term interest rates and the possibility that long-term rates will resume their climb after leveling off in recent weeks. Life company, agency and non-bank lenders are active in the market and have new allocations to place mortgages in 2017. CMBS lenders have successfully tested new risk-retention deal structures with the promise of providing needed liquidity to the marketplace, and private equity funds have raised record amounts of “dry powder” capital to deploy for equity restructuring, new construction and bridge deals. And credit spreads remain tight, allowing borrowers to take advantage of low all-in mortgage rates,” said Brian Stoffers, Global President, Debt & Structured Finance, CBRE Capital Markets.

CMBS lenders have incrementally improved their share of closings over the past year, as the loan pricing environment has become more favorable and issuers have created structures to satisfy risk-retention requirements. However, CMBS continues to lag other major lending groups by a considerable margin. CMBS lenders accounted for 15.8% of non-agency lending volume in Q1, up slightly from their 11.7% share a year earlier.

The “Other” lender category, which includes REITS, private lenders, pension funds and finance companies, continues to play a significant role in providing a variety of bridge, permanent loan and construction financing. They accounted for 20.7% of non-agency volume in Q1, down slightly from 24.1% in Q4 2016.