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Archive for the ‘Commercial’ Category

Income Properties and the MLS

J. Andrew English J. Andrew English
Friday, April 11th, 2008

Income Properties and the MLS:

Income properties are commonly listed on the MLS and Realtor.com. However, as a seller, you should also consider adding income properties to LoopNet and Propertyline. These two databases are public databases available to everyone. Most savvy investors will scour both of these sites looking for new properties. Loopnet and Propertyline will also have land zoned for commercial/industrial use, in addition to commercial/industrial existing structures. The wonderful thing about both of these sites is that they can be searched by everyone. (not just MLS members) You can greatly increase your pool of buyers by adding your income property to LoopNet and Propertyline.

Loop Net

J. Andrew English J. Andrew English
Monday, March 17th, 2008

Loop Net is a Real Estate database that is accessible to everyone. The site features predominately commercial properties for sale or lease throughout the US. Loop Net also will contain vacant land zoned for commercial use, industrial use, etc…Multi Family dwellings, especially larger dwellings, are commonly listed on the loop net website for prospective purchasers as well. Essentially, Loop Net is a database that displays information regarding properties for sale. The database can be accessed by anyone, not just real estate licensees. However, licensed brokers such as Congress Realty have premium accounts that allow their listings to be viewable through the various search features on the site.

Large Development Loan for Avondale apartments

Donald L. Plunkett, Jr. Donald L. Plunkett, Jr.
Tuesday, January 29th, 2008

A press release from Holliday Fenoglio Fowler, LP (HFF), a real estate finance company, announced a $92.75 MM debt and equity placement for a new Avondale, Arizona 715-unit multi-family development.  About $74 MM of that was debt from a life insurance company and an institutional equity partner put up about $17 MM.  It appears the developer only had to put up about $1 to 2 MM.  The development is huge, located on 33.7 acres at the corner of Indian School & El Mirage Road.  There are a number of amenities like 2 clubhouses, 4 swimming pools, a theater, sauna, and fitness center.

We have been asked by many real estate investors what development opportunities are out there in various markets.  As in any business, you need to study the trends and see where the competition is the most fierce and where there might be opportunities.  In the multi-family space, we have seen that many of the major developers (e.g. Trammell Crow Residential, Gables, etc.) will not touch a project unless the size is extremely large.  They are not going to build a 100 unit garden apartment complex because their cost structure and their lender’s invested capital requirements are so large.  As this continues, there may be opportunities for smaller infill projects.  In Scottsdale, for instance, some feel that there is pent-up demand for urban style living, lofts and so forth.  However, the new, large projects coming on line such as X (Ten) Wine Lofts and Toll Brothers The Mark are incredibly expensive; their cost of land for the large, trophy parcels they are building on is enormous.  With the right land cost on a smaller parcel (no small feat) and the right skill set, there may be an opportunity for a smaller developer to build a handful of units.