PREIT (OTCQB:PRET), a Philadelphia-headquartered operator of shopping centers in the mid-Atlantic region, has filed for Chapter 11 bankruptcy for the second time in three years. The company announced it is carrying approximately $880 million in total indebtedness and...
New legislation introduced by Democrats in both chambers of Congress seeks to prevent hedge funds from purchasing single-family homes. The End Hedge Fund Control of American Homes Act of 2023 was presented in the House by Rep. Adam Smith (D-WA) and in the Senate by...
Atlanta-based Angel Oak Capital Advisors LLC has hired Sumit Sasidharan as its head of commercial real estate. In his new job, Sasidharan will lead the firm’s CRE platform, which encompasses approximately $300 million in loans. He will also manage the firm’s permanent...
The commercial mortgage-backed securities (CMBS) delinquency rate dropped by five basis points in November to 4.58%, according to new data from Trepp LLC. While the overall rate was down, the office sector delinquency rate spiked by 33 basis points to 6.08% while the...
First Community Mortgage (FCM), a Nashville-based subsidiary of First Community Bank of Tennessee, has named Jeff Pancer to the new position of executive vice president of capital markets. Pancer’s career spans over three decades in the secondary markets. Prior to...
Kiavi, a San Francisco-based provider of financing to real estate investors, has hired Samuel Harrity as senior vice president of capital markets. In his new job, Harrity will lead Kiavi’s capital markets strategy and program execution, including Kiavi’s...
Hits and Misses for the Real Estate Week of June 15-19
