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U.S. CRE Turning Around In 2014, According To New PwC/ULI Report

Buisness Facilities Contributed Content

real estate recovery is set to continue into 2014, with investors increasingly looking beyond some of the traditionally popular markets to secondary markets in search of higher yields, according to Emerging Trends in Real Estate® 2014 , co-published by PwC US and the Urban Land Institute (ULI). Posted by Heidi Schwartz .

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PACE in Maryland is Not Keeping Pace

Green Building Law Update

But today, despite Maryland having enacted a PACE enabling law in 2014, only one PACE loan has closed in the State. In 2008 I said Property Assessed Clean Energy (PACE) loans “ could be bigger than anything in U.S. real estate since the invention of the glass window.”. By any measure, one is not an overwhelming success. So, what is wrong?

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HUD Jumpstarts PACE Financing for Homes

Green Building Law Update

The concept is not new, but nationally, residential PACE programs generally have been put on hold or foregone as a result of concerns of HUD and the Federal Home Loan Banks, that issued a directive in February 2011 to refrain from purchasing mortgage loans secured by properties with outstanding first lien PACE obligations.

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PACE Programs are Stepping Up the Pace

Green Building Law Update

Maryland is more typical with a state enabling law passed in 2014, with SB 186 , and local laws on the books in Montgomery County and Anne Arundel County, with at least one lender, Greenworks Lending , on board, but no PACE loans actually made yet. There were not similar concerns expressed about commercial loans.

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PACE Bill Due in Baltimore City

Green Building Law Update

The concept is not new, but nationally including in Maryland, “residential” PACE programs were put on hold as a result of a directive in 2011 that Fannie Mae and Freddie Mac refrain from purchasing mortgage loans secured by properties with outstanding PACE obligations. Maryland is typical.

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Economy Picks Up Steam; Manufacturing Is One Component Helping To Pave The Way

Buisness Facilities Contributed Content

percent in 2014. Furthermore, consumer spending and the employment sector appear to be growing sustainably, which may help to offset downside risks from the expected tapering of the Federal Reserve’s securities purchases. percent in 2013 and to accelerate to 2.6 ” For a summary of the latest report, download this PDF.

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High Global Investor Confidence, Increased Interest In The U.S.

Buisness Facilities Contributed Content

Overall, the new Global Investor Sentiment Survey found optimism about the economic outlook for 2014, and with this increased confidence, many investors are planning to expand, especially in “safe haven” cities around the world. With more than 500 responses from the U.S., In the U.S. as retailers look to expand into new markets.