Category: Martens Companies

Multifamily Borrowers Still Have Lots of Options for Constructions Financing Investors can still find the financing they need to develop apartment properties. “If you can get a site to build, there are people who would love to lend on it,” says Bill Leffler, vice president in the multi-housing group of real estate services firm CBRE. Interest rates remain low and many lenders are willing to make multifamily construction loans. However, these lenders have become more cautious as the cost of construction has grown faster than apartment rents in many parts of…

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Commercial appraisals are a fundamental part of assessing the value of a property but the appraisal process can be quite overwhelming, especially for those who haven’t gone through the process before. At Martens Appraisal, we perform over 600 appraisals a year for over 100 different lending institutions. We have experience with all sorts of property types and are here to help. So let’s take a look at the steps of the commercial appraisal process. Identify the Problem Our first step is to determine the client, the intended use of the…

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Data supports the increasing frequency and very real impact of extreme weather events on the hotel industry, so what are hoteliers to do to ensure that their properties survive? Hospitality Management is pleased to share this article from Hotel News Now. By  Jan Freitag@ HENDERSONVILLE, Tennessee—Climate change is real, and will be real for decades to come. While efforts to increase sustainability measures are laudable—and countries and companies have made real efforts to decrease their carbon footprints—at this point, it’s all a bit too little and likely a bit too…

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Overall Economic Activity Economic activity expanded at a slight-to-moderate pace in March and early April. While most Districts reported that growth continued at a similar pace as the previous report, a few Districts reported some strengthening. There was little change in the outlook among contacts in reporting Districts, with those expecting slight-to-modest growth in the months ahead. Reports on consumer spending were mixed but suggested sluggish sales for both general retailers and auto dealers. Reports on tourism were generally more upbeat. Reports on loan demand were mixed, but indicated steady…

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The U.S. hotel industry reported RevPAR rose 1.9% to $89.90 during the week of 31 March to 6 April, according to STR. HENDERSONVILLE, Tennessee—The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 31 March through 6 April 2019, according to data from STR. In comparison with the week of 1-7 April 2018, the industry recorded the following: • Occupancy: +0.4% to 68.7%• Average daily rate (ADR): +1.5% to US$130.79• Revenue per available room (RevPAR): +1.9% to US$89.90 STR analysts note that performance…

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Martens Appraisal commercial real estate appraisers are familiar with providing commercial appraisal reports for a variety of Government programs, including commercial real estate appraisals for use by the U.S. Small Business Administration. A relatively new extended-maturity loan option from the U.S. Small Business Administration is heating up the real estate market among small businesses that are anxious to purchase properties while the economy is booming and interest rates remain low. In April 2018, the U.S. Small Business Administration announced changes to its 504 loan program to allow for a 25-year maturity on…

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The U.S. hotel industry reported occupancy increased 4.2% to 69.5% during the week of 24-30 March while ADR rose 0.9% to $131.77 and RevPAR increased 5.1% to $91.53. HENDERSONVILLE, Tennessee—The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 24-30 March 2019, according to data from STR. In comparison with the week of 25-31 March 2018, the industry recorded the following: Occupancy: +4.2% to 69.5% Average daily rate (ADR): +0.9% to US$131.77 Revenue per available room (RevPAR): +5.1% to US$91.53 STR analysts note…

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During the week of 17-23 March, U.S. hotel occupancy rose just 0.2% to 69.6%, ADR rose 0.2% to $133.65 and RevPAR increased 0.4% to $93.02. The U.S. hotel industry reported nearly flat year-over-year results in the three key performance metrics during the week of 17-23 March 2019, according to data from STR. In comparison with the week of 18-24 March 2018, the industry recorded the following: • Occupancy: +0.2% to 69.6%• Average daily rate (ADR): +0.2% to US$133.65• Revenue per available room (RevPAR): +0.4% to US$93.02 Among the Top 25 Markets,…

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The U.S. hotel industry reported occupancy dropped 0.9% to 70.2% during the week of 10-16 March. ADR rose 0.6% to $134.50, but RevPAR decreased 0.3% to $94.40. The U.S. hotel industry reported mixed year-over-year results in the three key performance metrics during the week of 10-16 March 2019, according to data from STR. In comparison with the week of 11-17 March 2018, the industry recorded the following: • Occupancy: -0.9% to 70.2%• Average daily rate (ADR): +0.6% to US$134.50• Revenue per available room (RevPAR): -0.3% to US$94.40 Among the Top…

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The hotel industry has waited for the U.S. Department of Labor to announce a proposed increase to the overtime exemption threshold. Now that it has, here is what hoteliers need to know. REPORT FOR THE U.S.—The U.S. Department of Labor has proposed a new overtime exemption threshold that could go into effect by 2020, which means it’s time for hoteliers to review the employee analyses they performed the last time a new threshold was proposed. The proposed threshold of $679 a week ($35,308 annually) comes within the expected range following…

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