Did you know that 2011 is the 35th anniversary of the Commercial Investment Division of NHAR? * Your NH CIBOR board of directors continues to move forward with new Members and initiatives. * NH CIBOR has some of the best Supporters out there. * Leading indicators are pointing toward a stronger commercial market in 2011. Read on....
The 35th anniversary year is looking to be a great one. The January board of directors meeting welcomed 4 new board members. We are looking forward to many years of service and contribution from Deb Mullen, Chris Nadeau, Andre Tremblay, and John Jackman. It is also my pleasure to congratulate and thank the board members rising to the executive committee, including Bill Jean as treasurer, Jason Craven as secretary, and Chris Norwood as president-elect. Have you thought about your interests and how you would like to serve?
As I start my term as president, I wish to thank Art Slattery, past president, for his many years of service. He most recently served for two consecutive terms as NH CIBOR president in response to a need the association experienced. Art's leadership and work with the committees has helped us to accomplish many initiatives including the strategic plan, hiring Allison Ropes as our executive officer, and many others. Be sure to extend your appreciation to Art when you have the opportunity.
Those that attended the annual meeting in December were treated to one of the best networking opportunities that we have experienced in some time as well as a great dinner. The setting at the Searles Castle provided a magnificent environment for stimulating conversation and a chance to get together in a noncompetitive environment. Chef April served a fabulous meal of tenderloin steak in a brandy cream sauce, baked stuffed shrimp, and haddock. Deserts from Jacques Fine European Pastries were enjoyed by all. There were many compliments.
We especially want to thank our annual meeting sponsors. Be sure to remember them as you experience a need of the services they provide in 2011. They include; Hampshire First Bank PSNH Grubb & Ellis/Northern New England Fulcrum Associates The Dubay Group CIT Small Business Lending NAI Norwood Group Creative Office Pavilion Penchansky & Company PLLC Nobis Engineering Prudential Verani Realty Catylist, Inc.
The market showed signs of stabilizing in 2010 and leading indicators are positive for 2011.
From the National Real Estate Investor January 12.... Blockbuster transaction volume in December helped to push U.S. commercial real estate sales to $115 billion for 2010, up 109% from $54.6 billion in 2009, according to preliminary results from Real Capital Analytics. December's volume of more than $21 billion was the highest sum for a single month's trading since the end of 2007.
"I think the recovery in transaction activity has snuck up on everyone," said Dan Fasulo, managing director at Real Capital Analytics.
The New York-based research company will publish its findings later this month....
"One of the first news reports to hit the commercial real estate industry at the start of the new year has been the revelation that Deutsche Bank and UBS will soon start selling a new CMBS issue valued at $2.5 billion