Jerry Quill, a former GE Real Estate managing director, has formed Charles Street Capital, a Southborough, Mass.-based commercial real estate investment company."Strong real estate fundamentals in many North American markets together with low financing costs continue to create attractive investments," said Mr. Quill. "We see a major opportunity in the U.S. debt market, specifically purchasing assets from lenders that have grown their portfolios rapidly over the past few years and have a need to reduce or rebalance real estate exposure." The firm will initially target the acquisition of loans from lenders -- such as banks, insurance companies, and government agencies -- in the secondary market. "We believe purchasing loans generates superior risk-adjusted returns for our investors compared with buying properties in some of today's high priced markets," Mr. Quill noted. The firm is interested in fixed and floating-rate loans, including nonperforming loans, on various property types. The firm expects the loan sale market to grow significantly in the coming years as a result of the recent "expansion in commercial real estate credit" by all sorts of lenders.
-
House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
July 3 -
A labor shortage is costing the market tens of thousands of new homes per year, and tariff uncertainty is adding thousands of dollars in expenses per unit.
July 3 -
The pace of revenue growth slowed toward the end of 2024, with the trend continuing into the first three months of this year, NAHB reported.
July 3 -
Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
July 3 -
The 10 basis point decline in the 30-year fixed mortgage was the most since March and the first time rates are below 6.7% since April, Freddie Mac said.
July 3 -
The firm, now going by Fairway Home Mortgage, said the change is a representation of plans to create a "connected ecosystem."
July 3