Friday, May 24, 2013 Denver Business Journal BY DENNIS HUSPENI – Reporter Your blogger’s building has sold. I first reported in February the 23-story 1700 Broadway — 22-year home of the Denver Business Journal — was on the market and confirmed in April MDC Realty Advisors USA Inc., in a partnership with Canadian REIT Artis […]
Tuesday, April 30, 2013 Denver Business Journal BY DENNIS HUSPENI – Reporter Under the category of “that didn’t take long,” your blogger’s office building has been sold. I first reported the 394,151-square-foot 1700 Broadway — longtime home of the Denver Business Journal — was on sale in February. HFF’s Mary Sullivan and John Jugl, who […]
BY RODRIC J. BRADFORD Experts discuss the process, rights and benefits of placing a property into receivership An increasing number of commercial real estate professionals are looking to court appointed receivers to help maintain the integrity and value of a property that is heading toward foreclosure. Just a few years ago the terms “Receiver” and […]
Hannay Investment Properties, a court appointed receiver, sold the 76-unit Sundancer Apartment complex located at 400 N. 96th Ave. in Tolleson, AZ to Navaho Holding, Inc. for $1.75 million, or approximately $23,000 per unit. The 66,160-square-foot apartment community consists of 24 one-bedroom and 52 two-bedroom units. It was built in 1985 in Maricopa County and […]
Today, when most Arizona real estate companies are downsizing and fighting for survival, Hannay Investment Properties finds itself able to meet the challenges of these tough economic times. Led by Craig Hannay, the company’s president, the firm has been able to quickly and nimbly position itself into a key niche of the growing commercial real […]
Although Mobile Home RV (MHRV) Resort Parks are certainly not at the forefront of the commercial real estate industry, in today’s economy there are currently more and more special servicers facing the challenge of handling this asset type.
A unique alterative use for vacant retail space or even an office building may be a Self Storage Conversion. A straight forward concept, it involves converting the interior of commercial space by partitioning it into numerous self storage units and installing a small rental office while altering the exterior of the building to promote awareness.
As loan defaults on commercial real estate escalate and special servicers’ workloads skyrocket, use of court appointed receivers is becoming a more viable option for special servicers when dealing with loan default resolutions on income producing property.
(Phoenix, AZ) Phoenix-based Hannay Investment Properties have seen their business grow substantially in the last six months, and they are planning to expand into other markets in the west and southwest. In the past year, the firm has tripled the size of its staff from six to 18 full-time employees, and they anticipate adding another […]
Distressed commercial loans — whether for office, industrial, retail or even multifamily housing — have a better chance of getting a mortgage modification than underwater homeowners, local real estate experts say, because those lenders have more at stake.