| Guess who got back today? After much anticipation and a welcome mat that's been waiting, distressed sales are here, according to Miles & Stockbridge's Rad DeTar. (By the way, he's moderating ourBisnow 2nd Annual Baltimore Real Estate Summit on Tuesday.) |
| Rad swears he can find everything in all these papers. He tells us his firm is seeing more opportunities to acquire distressed assets. If you have the resources, he adds, now is a good time to act, while prices are down and rates are at historical lows. (In fact, they've already started to trend upward lately.) Good thing since Miles & Stockbridge clients have displayed a renewed interest in CRE acquisitions. |
| Rad also tells us that those trying to avoid recordation taxes by using an indemnity deed of trust to secure a loan will increase their chances if they close the financing sooner rather than later. Changes afoot in the General Assembly mean that could become a thing of the past. In fact, Rad says that among Baltimore CRE's greatest legal challenges are uncertainty from the most recent Annapolis legislative session and state and local budget constraints, which hinder infrastructure development. |
DISTRESSED DEALS BACK IN TOWN
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