Fickle – that’s one word to describe the commercial real estate market as the COVID-19 pandemic winds down and the accompanying economic development downturn looks likely to take 18 to 24 months to resolve.
For individuals or companies wanting to buy or build commercial real estate (CRE) properties, there’s money available – for the right person, with the right deal and at the right time. If those factors fall into place, there’s conventional loans available from banks and other lenders, as well as Small Business Administration (SBA) loans.
But the market at the end of Q2 2021 isn’t taking risks. There’s not much speculative lending for anyone without a solid track record, which means borrowers who have built or bought CRE before, understand the market, and have the proven ability to repay loans.
“I’m seeing a very good availability of financing in the market,” said Jeff Pori, founder and CEO,…