Posted on: November 26th, 2012 by admin@cpp
Companies looking to purchase Georgia commercial real estate properties may be able to receive financing more easily, as local banks recently showed heightened interest in lending, according to The Atlanta Journal-Constitution.
The economy showed some improvement in the past several months, and employment may increase in the near future. These market aspects encouraged more to get involved again, the news source explained. Many financial institutions waited during economic recovery because of the significant losses during the recession.
"A year ago, you would have never heard me say 'I can't wait to get back into the CRE business,'" Kessel Stelling, chairman and CEO of Synovus Financial, told the news source "But we think in our markets there are some very strong opportunities for very well underwritten ? deals there."
While many cautioned that the current market is not yet near the peak levels before the recession, progress exists, the news source added. One aspect of the recovery that helped encourage lending applications from companies was the continued low interest rates, as more are confident in buying property.
If you own or are considering a commercial building purchase or lease, contact Daniel Levison or Furman Wood of Commercial Property Professionals. They can be reached at 404-848-1776.
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