As start-up and operational costs in the hospitality industry increase, food halls and “micro-tenant” aggregation continue to gain popularity in New England’s urban commercial real estate markets. From Boston Public Market to the recently introduced High St. Place (Boston Financial District), Lisbon’s Time Out Market (Fenway’s Landmark Center), or Bow Market (Union Sq. in Somerville), real estate developers are banking on vast multi-operator ventures to drive business and hedge risk among various operators. New England is likely to see this concept flourish in 2019 with several such developments currently underway.
Plenty of Capital Still Available
The Mortgage Bankers Association recently published its Commercial Real Estate Outlook Survey 2019. The r...
We have now started the year 2019. What will the New Year mean for the real estate industry? The month of December was one of anxiety and concerns with the stock market ups and mostly downs, the controversy over interest rates and the tariffs making headlines. Are we in for a recession? Many said at the start of 2018 that 2019 would be the year the economy sputters and we see the next recession.
Looking at the economy around the world there are some signs of a slowdown. In China, the key private sector index that looks at manufacturing showed activity shrinking in November, the first time since 5/17,
This article continues the central theme of insights caused by my being part of CBRE and published in the NEREJ in January every year since the end of the Great Recession. I will repeat: Boston’s real estate fundamentals are strong. There will be no ‘mild recession’ as predicted by naysayers year in and year out. A stabilized market will continue well beyond 2020.
There is one red flag; the out-of-control increase in construction costs.
2019 is here, and it’s almost time to file your first tax return under the new law. But you probably sat around watching sports all weekend instead of talking taxes, didn’t you. (Did Santa bring a new TV?) So, as we ring in the New Year, let’s take a look at how the new tax bill affects some of those athletes you’ve been watching.
Washington sold the Tax Cuts and Jobs Act as “tax simplification.” And really, who can’t raise a toast to that? Lower rates! Higher standard deductions! A 1040 you can fill out on a postcard! But many taxpayers,
Internal Revenue Code (IRC) Section 1031 allows a property owner, who holds property for “the productive use in a trade or business or for investment”, to defer paying any capital gains taxes if the property owner sells such property, identifies “like kind” property within 45 days of the sale, and acquires other “like kind” property within 180 days of the sale.
There are three primary rules for identifying Replacement Property within the 45-day time period:
Closing on a $14 million refinance transaction which took a lot of blood, sweat and tears to get done. The property that was being refinanced for construction purposes, involved a ground lease with the municipality and was cross-collateralized with land in another town wherein the borrower was the landlord in a similar ground lease situation. It involved complex title research,
Through our subsidiary, The Hotel Exchange, our largest deal was the $3.3 million sale of Raffael’s function facility in Walpole to the Saphire Group.
For me, this comes right back to the diversity of the past year – our team ran the gamut of projects and transactions that covered different property types.
There were modest credit and large credit transactions; new office construction and rehabilitation projects. We worked on deals that had historical tax credits, state tax credits, and Rebuild Rhode Island
We worked on several projects throughout the year and all have come in on-time and on-budget. We are thankful for the skill levels of all of our vendors and their responsiveness to our client’s needs.