News & Events

market
intelligence
briefing


November 22, 2017


Commercial Banking


Real Estate Finance

  • Apartment construction slowing as single-family housing starts rise


    Nov 20 -
    A softening in the multifamily construction segment is something to keep an eye on as overall homebuilding is expected to keep moving forward. The supply of apartments and condominiums has surged in recent years as builders responded to rising demand, fueled in part by young Americans who preferred to rent in the aftermath of the recession. While new multifamily-home construction and permit applications are both still rising, there’s less incentive to keep building with as much intensity. According to Dodge Data & Analytics, by 2016, multifamily starts had recovered 96% of the ground lost during the downturn, while the single-family market was just at 45%.

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  • Tampa office campus sells for $45M, brokered by CBRE


    Nov 20 -
    CBRE brokered the sale of Tampa International Business Center, a six-building office park totaling 324,654 square-feet in Tampa, Fla. TerraCap Management sold the asset to Real Estate Value Advisors for $45.1 million. The property is 98% leased. Among the campus’ tenants are Gateway One Financial & Lending, MedHOK Health and WellCare.

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  • APF Properties to double size of Hudson Square office building


    Nov 20 -
    APF Properties intends to build up its Hudson Square-located office building at 163 Varick Street, N.Y. The building's height will increase from six to 12 stories and the commercial square footage will increase from 45,000 to 75,000 square-feet. The 11th and 12th floors will have outdoor terrace space and storage and factory space on the second, third and fourth floors will be freed up for new offices. The company also plans to install new ground floor retail.

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Commercial Bankruptcy

  • Real Industry files for Chapter 11 bankruptcy


    Nov 17 -
    Real Industry filed for Chapter 11 bankruptcy with plans to restructure. The company expects to maintain operations in the U.S. during the bankruptcy process. The company has entered into an agreement with its asset-based facility lender, as well as certain bondholders, for continued use of its $110 million asset-based lending facility and up to $85 million is debtor-in-possession financing. Reasons for the filing were not disclosed.

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  • Motorsport Aftermarket Groups files for Chapter 11 to recapitalize $300M in debt


    Nov 15 -
    Motorsport Aftermarket Group filed for Chapter 11 bankruptcy as part of a plan to recapitalize over $300 million in debt. The plan was approved by 90% of the company’s prepetition first lien secured lenders and asset-backed lenders. The company has also secured up to $135 million in debtor-in-possession financing from certain secured lenders.

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  • GulfMark completes restructuring, exits bankruptcy


    Nov 14 -
    GulfMark Offshore has completed its financial restructuring plan, emerging from bankruptcy. The company’s reorganization plan coverts around $429.6 million of outstanding bonds into equity and raised approximately $125 million of new equity capital. Existing shares of GulfMark common stock prior to reorganization were cancelled and the company will issue around seven million shares of new common stock.

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