Lenders are particularly diligent in underwriting loans for construction projects. There is good reason for this level of diligence. Since so many factors can undermine a development or redevelopment project, construction tends to be one of the riskiest areas of commercial real estate lending. Lenders are concerned about any risks that could impact the costs or timing associated with a construction project because the underwriting on a construction loan is related to both ... [Continue Reading]
A Message From AEI About COVID-19
To Our Valued Clients, AEI is committed to supporting your business objectives during this challenging time. In addition, we are committed to doing our part to help slow the transmission rate of the virus through responsible business operations. Headquartered in the San Francisco Bay Area, AEI developed our operational response to the Bay Area Shelter in Place Orders issued earlier this week. AEI is prepared to similarly address any restrictions that may be enacted by any governmental ... [Continue Reading]
HUD 221(d) (4) or HUD 223(f) Acquisition/Refinance Program? Which road will they take?
The U.S. Department of Housing and Urban Development (HUD) issued Mortgagee Letter 2020-03 on March 2, 2020 to announce that applications for refinancing of newly built or substantially rehabilitated properties will now be accepted as soon as properties achieve the applicable programmatic Debt Service Coverage Ratio (DSCR) for not less than one full month. This new policy supersedes the previous policy, which stated that applications for refinancing or acquisition of existing properties under ... [Continue Reading]
Earthquake Preparedness Tips
You may have noticed the recent rise in earthquakes making headlines - in the past few weeks there have been earthquakes in Albania, the Philippines, and Puerto Rico. AEI’s Senior Seismic Team Project Manager, Matt Fontanesi, has a few tips for earthquake preparedness. These easy tips can be completed before the end of the day! Have a family agreement on who-calls-who in the event of an earthquake. Daytime and nighttime responses should be different. Communication can be disrupted due to ... [Continue Reading]
Earthquake Re-Cap from one of AEI’s Structural Engineers
Courtesy of: Matthew Fontanesi, Structural Engineer, AEI Consultants Last night’s seismic event in the Eastern Bay Area portion of California was a small-moderate earthquake. Perhaps it felt big—bumps in the night are unsettling and the surge of adrenaline heightens your experience and the memory of the event in a way that trucks rumbling past the office won’t capture. Most people will conclude that an earthquake was big or small based on the Magnitude. People can recite that a M7.0 is 1000x ... [Continue Reading]
AEI Educates MBA Multifamily Attendees on Environmental and Physical Risk
Underwriters in the Multifamily Commercial Real Estate sector, including U.S. Department of Housing and Urban Development (HUD), Fannie Mae, and Freddie Mac, are tasked with assessing a variety of components when evaluating risk in multifamily commercial real estate transactions. Among the most important factors that must be considered are physical risk and environmental impacts. Environmental contamination at the site of a multifamily development (or at adjacent sites) can have serious impacts ... [Continue Reading]
How Blockchain Could Change the Real Estate Investment Landscape
An increasing number of countries have begun the process of implementing functional and legal frameworks to regulate blockchain-recorded tokens over the past several months, which has led to increasing exploration of these technologies across many investment sectors. Further, the use of distributed ledger technology (DLT) is a powerful disruptor at the transactional level, where significant disintermediation is occurring — especially with one of the most popular alternative investments: ... [Continue Reading]
Lead-Based Paint Regulations Changes in Tennessee
Effective March 25, 2019, a 15-Day notification (previously 2-Days) has to be submitted to the Tennessee Department of Environment & Conservation (TDEC) prior to all Inspections/Risk Assessments/Clearances and All Lead Abatement Activities (Removal, Replacement, Encapsulation and Enclosure). Note: Notification requirement is 15 "calendar days" not "working days." The Notification of Lead-Based Paint Activity form is a critical component that allows program administrators ... [Continue Reading]
Lean and Green – December 2018
From SoCal Real Estate’s December 2018 issue:Construction costs from the environmental perspective Concern for the environment has become a necessary element of any real estate project, and the construction sector is most definitely in the thick of this concern. Balancing environmental issues with cost control in construction can be tricky, particularly in an industry where time is money and delays from environmental rules and legislation are plentiful. Robert Traylor, PG, CHg, ... [Continue Reading]
AEI Launches New Charitable Initiative
As the spirit of giving fills the air, AEI is proud to lend its support to several incredible charitable organizations this holiday season. The firm has announced that it will contribute end-of-year donations to five organizations, each of which is aligned with the company’s core values. “Devoting a portion of AEI’s profits to support organizations that align with our values is a primary element in our overall strategic plan,” says AEI CEO Holly Neber. “We are committed to making a ... [Continue Reading]
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