Updates in the world of Commercial Real Estate
By Erik Sherman To understand where interest rates might go, watching the actions of the Federal Reserve is important, of course, but so is monitoring yields of Treasury instruments. Whether bonds, notes, or bills, depending on the term, they have great sway. Treasurys are considered safe investments, and so are one of those practical baselines for […]
By Harold Bordwin The almost daily announcements in the press about defaults, foreclosures, deeds-in-lieu and, among other things, the forthcoming sale of Signature Bank’s $33 billion commercial real estate loan portfolio are ominous signs for the real estate community. They reflect the challenges facing commercial real estate owners and lenders in this age of elevated interest rates […]
By Greg Ryan Massachusetts is building significantly less housing than it was in the mid-20th century. Not coincidentally, the median home sale price has nearly doubled in the past decade to $600,000, far outpacing income growth. More people are leaving Massachusetts for other states than are moving here. Those problems are what the MBTA Communities zoning […]
By Meera Raman The CEO and president of Cambridge Savings Bank, which recently cracked the top ten list for largest banks in Massachusetts, told staff he plans to retire after over decade in the position. Wayne Patenaude recently announced his retirement internally to the company, the bank confirmed. “We are immensely grateful for Wayne’s exceptional leadership and […]
By Jess Aloe GE is aiming to complete its spin off of GE Vernova in the beginning of the second quarter of 2024. When the split is complete, shares of Cambridge-based GE Vernova will be listed on the New York Stock Exchange under the symbol ‘GEV,’ while shares of Ohio-based GE Aerospace will continue to trade […]
By Lucia Maffei The company formerly known as Raytheon is selling its Dulles, Virginia-based cybersecurity business for approximately $1.3 billion. RTX Corp. (NYSE: RTX) said in its earnings report Tuesday it has entered into a definitive agreement to sell the cybersecurity, intelligence and services business within its Raytheon segment. The sale price is subject to regulatory […]
By Greg Ryan Battery maker Factorial Inc. formally opened a 67,000-square-foot facility to manufacture batteries for electric vehicles in Methuen on Monday. The deal was the latest in a series of real estate expansions locally for clean energy companies. Democrats in Washington have sought to encourage the domestic production of EV batteries by including financial incentives for […]
By Lucia Maffei Form D Friday is a Boston Business Journal feature highlighting regulatory filings from Boston-area companies raising capital for new projects or expanding their businesses. Form D reports are a type of SEC form used to file a notice of exempt offerings of securities. The SEC requires companies file the notice within 15 days […]
By John Gittelsohn The value of distressed US commercial real estate neared $80 billion in the third quarter, its highest level in a decade, as rising interest rates and sagging office demand shook the property market. The value of buildings in bankruptcy, repossessed by lenders or in the process of liquidation increased by a net $5.6 […]
By Augusta Saraiva US retail sales increased in September by more than forecast in a broad advance that suggests durable household demand as the third quarter drew to a close. The value of retail purchases, unadjusted for inflation, increased 0.7% after an upwardly revised 0.8% gain in August, Commerce Department data showed Tuesday. Excluding gasoline, September sales […]
