Condensed Chapter 20 Slides

Condensed Chapter 20 Slides - Chapter 20 Commercial Real...

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“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Chapter 20 Commercial Real Estate Finance
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“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Major Topics How does commercial real estate finance differ from residential? What affects the availability of commercial property financing? Who are the major providers of commercial property mortgages? What is the CMBS market and how does it provide mortgage money? How do lenders underwrite commercial property? Assess risk? How do borrowers determine where and how to finance a property? How is the internet changing the business?
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“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Introduction Distinctions between financing Commercial properties and Residential financing: 1. Commercial financing transactions are less standardized 2. Transaction amounts are large 3. Loan terms are much shorter 4. Loan documents are customized to the transaction and are heavily negotiated 5. Underwriting emphasis is on the property’s income and value 6. Commercial property loans are not subject to consumer protection laws
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Economy”: Norman G. Miller and David M. Geltner Introduction (Contd.) 7. Detailed and lengthy loan submissions are specifically
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This note was uploaded on 02/07/2012 for the course FIN 4380 taught by Professor Staff during the Spring '08 term at Texas State.

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Condensed Chapter 20 Slides - Chapter 20 Commercial Real...

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