News: Finance

REFA offer the opportunity to hear from best in the business

REFA's mission is to bring together the best people, knowledge, and experience to provide informative programs and networking opportunities for all of those involved in the real estate finance industry. Part of accomplishing that mission is bringing in top industry leaders with a wealth of knowledge and expertise to share their thoughts on a given topic. Not only does this create an excellent educational experience, but it also provides members of the REFA community with the opportunity to network and interact with these leaders. REFA holds two specific types of programs throughout the year to give their members high-level, intimate networking - the Industry Leaders Series and the Emerging Leaders Series. Both series are similar in that they feature one speaker as the focus of the program, but differ in terms of the content of the program and the targeted audience. The Industry Leaders Series is intended for members of the REFA community from every stage in their careers to come together and hear what an industry leader has to say on a particular timely, topical subject. The Emerging Leaders Series is intended for a small group of young professionals to network and hear from an industry leader who speaks about his or her career path in a casual and interactive format. In the month of November, REFA will be holding both an Industry Leaders Series and an Emerging Leaders Series program. On November 19th, Thomas DeSimone, a partner at WS Development, will speak about the retail market at the Industry Leaders Series at Brown Rudnick LLP. On November 21st, Andrew Hoar, president and co-managing partner at CBRE | New England will reflect on his career and how he got his start at the Emerging Leaders Series at the CRBE | New England headquarters. The holiday season is fast approaching! Come celebrate with REFA at their 3rd Annual Holiday Happy Hour on December 10th at Julep Bar. The event, which is hosted by the REFA Emerging Leaders, doubles as both a networking event and a charity toy drive for the Home for Little Wanderers. For more information about REFA and upcoming events, please visit our website at www.REFA.org.
Tags: Finance
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Kozlowski of Newmark Capital Markets secures $115.6 million financing for two properties in CT

East Lyme, CT Newmark has arranged $115.6 million in financing on behalf of the sponsor to refinance The Cove at Gateway Commons and Sound at Gateway Commons. Newmark Capital Markets Strategies managing director Avi Kozlowski secured the financing through Freddie Mac.
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Reverse exchanges and the challenges of a competitive real estate market - by Michele Fitzpatrick

Reverse exchanges and the challenges of a competitive real estate market - by Michele Fitzpatrick

Our current, highly competitive real estate market poses specific challenges for investors who are considering taking advantage of a tax-deferred 1031 exchange. In this market, investors will have no problem selling their current property if priced properly, but they may find it difficult to find a suitable replacement property
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The purpose of this article is to address problematic or confusing issues which may help assessors and appraisers to better understand how to value real estate for tax assessment purposes.
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Attention to owners of real estate in the Commonwealth (and the title companies and other professionals who advise them), the Massachusetts Department of Revenue (the “DOR”) recently adopted a new “millionaire’s tax” via 830 CMR 62B.2.4
The focus on price per s/f compared to the  comparable sales used in the appraisal report - by Dennis Chanski

The focus on price per s/f compared to the comparable sales used in the appraisal report - by Dennis Chanski

Over the past several weeks, I have completed appraisal assignments for private clients. Interestingly, after submitting these appraisals, I received several phone calls – not to question the value, content, or any incorrect information, but rather to discuss the price per s/f compared to the comparable sales used in the report.