Viva Variety! re: Funding
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|Capital is available and in many different forms than it was last year. At yesterday's Chicago Real Estate Council monthly luncheon at Maggiano's, Bank of America's Daniel Walsh said last year only life companies and a few select banks were lending. Now CMBS and investment banks are in on the action. Wrightwood Capital's Dennis Kracik said that FASBE 13 would encourage tenants to sign shorter leases, in turn giving loans shorter maturity dates. Grubb & Ellis' Ben Greazel (not pictured) said the hospitality market had improved and there are a few companies starting to look for larger space: Groupon is looking for more than 400k SF in the Chicago area.|
|We snapped LAZ parking's Andrew Carlson, Schroeder Group's Brian Schroeder, and Grubb & Ellis' Mike Wilson. Andrew had a great day, winning a Lettuce Entertain You gift card in the raffle and telling us that bad weather like yesterday's windstorm was good news for parkers who don't want to take the bus. Brian started his own company four months ago and is looking to get into the parking garage business. For now, we'll say he's circling the block.|