News
now browsing by category
Pa. Corporations Lagged in Income, however Led in Expense Reductions
In a 12 months when the common U.S. regulation agency was pleasantly shocked by robust income development and noteworthy profitability, a latest survey of 2020 monetary outcomes exhibits sluggish income development within the Pennsylvania authorized trade, however robust income that have been largely pushed by the expense discount that got here with a shift to digital operations.
Dick Thornburgh, Legal And Public Service ‘Giant,’ Dies at 88
Law.com
Kennedy Wilson Makes $200M Multifamily Portfolio Investment
Four Potential Pitfalls of Buying New Construction in Today’s Market
As the construction industry recovers from the initial impact of the pandemic, project volume is trending upward. There is still a market for new construction, especially in the warehouse/logistics sector, as well as a demand for large-scale renovations as investors seek value-add or opportunistic adaptive reuse projects.
If you’ve set your sights on a newly constructed or recently renovated building, don’t be fooled by the fresh exterior, updated finishes, and new systems. You may assume that new construction means reduced risk, and might even skip the Property Condition Assessment (PCA)—after all, what could go wrong on a brand-new building?
Unfortunately, plenty of problems can arise with recent construction—especially now, when builders are challenged with material and labor shortages as well as COVID-related delays. From an investment standpoint, investors in new buildings don’t anticipate significant Capital Expenditures
Sale-Leasebacks Could be an Effective Tool for Schools
As the pandemic crunches schools’ budgets around the country, their real estate holdings may be a key to unlocking liquidity and reducing occupancy costs.
“The pandemic is fast-forwarding business models that were already pivoting to take into account declining enrollments, reductions in state funding, higher debt loads and more distance learning,” stated Andy Graiser, co-president of the Association of Governing Boards of Universities and Colleges on AGB’s webinar, Bolstering Liquidity by Optimizing Real Estate.
Schools such as Dowling College, the College of New Rochelle, Career Education Corp. and Kaplan University have lowered their occupancy costs by restructuring or terminating leases and boosted liquidity through structured sales and sale-leaseback transactions, according to Graiser
After a financial crisis dating to 2016 caused the College of New Rochelle’s debt service to swell, the school negotiated an interim campus leasing agreement with Mercy College and subsequent structured sale of the main campus. This followed