2024 Fall Issue of Urban Land - 87

return for additional equity, the pledge
of collateral, or both.
Strengthening loan covenants is
another tactic some lenders are using.
Doing so creates greater transparency,
lender control, and safeguards on the
funds from the property. In cases where
a property is not cash-flowing and the
borrower is not supporting the loan,
investor-related firms are foreclosing or
selling the note. In the case of regulated
lenders, some are resorting to note sales.
In the case of new loans, lenders have
tightened underwriting standards and
retrenched with their most qualified borrowers.
At the same time, lenders admit
to strong competition for the small
segment of available loans. In some
instances, robust competition means that
some lenders have reported easing back
on covenants and pricing.
To be or not to be concerned
With more foreclosures occurring and
greater amounts of maturities on the
way, should there be concern regarding
the vast wall of commercial real estate
loan maturities? Although the market
continues to navigate the challenges,
several reasons for elevated concern
linger. First and foremost is the inability
to accurately gauge value. The lack of
surety around accurate values creates
added uncertainty, which in turn can
delay transactions, generate greater
underwriting risk, and lead to a host
of other substantive issues. Additionally,
early this year, debt costs exceeded
equity. As debt became more costly
than equity, many projects were unable
to refinance. Recently, rates on debt
appear to be receding, which may allow
for more projects to be financed.
The vast amount of loans that are
being prolonged for modest durations
creates more unknown factors for both
lenders and borrowers. A resilient economic
climate has provided strength
during a period of mixed commercial
real estate conditions. If the slowing
becomes more pronounced, though,
then there could be added pressure
on demand factors such as increased
vacancy and declining rents, which
could contribute to slow refinancings
and transactions. UL
(These thoughts are solely the
author's and not those of the Federal
Reserve System or the Federal Reserve
Bank of Atlanta. Article data is as of
September 6, 2024.)
BRIAN BAILEY is subject matter expert and senior
policy adviser for the Federal Reserve Bank of Atlanta.
FALL 202 4
URBAN LAND
87
INDUSTRY VOICES

2024 Fall Issue of Urban Land

Table of Contents for the Digital Edition of 2024 Fall Issue of Urban Land

2024 Fall Issue of Urban Land - Cover1
2024 Fall Issue of Urban Land - Cover2
2024 Fall Issue of Urban Land - 1
2024 Fall Issue of Urban Land - 2
2024 Fall Issue of Urban Land - 3
2024 Fall Issue of Urban Land - 4
2024 Fall Issue of Urban Land - 5
2024 Fall Issue of Urban Land - 6
2024 Fall Issue of Urban Land - 7
2024 Fall Issue of Urban Land - 8
2024 Fall Issue of Urban Land - 9
2024 Fall Issue of Urban Land - 10
2024 Fall Issue of Urban Land - 11
2024 Fall Issue of Urban Land - 12
2024 Fall Issue of Urban Land - 13
2024 Fall Issue of Urban Land - 14
2024 Fall Issue of Urban Land - 15
2024 Fall Issue of Urban Land - 16
2024 Fall Issue of Urban Land - 17
2024 Fall Issue of Urban Land - 18
2024 Fall Issue of Urban Land - 19
2024 Fall Issue of Urban Land - 20
2024 Fall Issue of Urban Land - 21
2024 Fall Issue of Urban Land - 22
2024 Fall Issue of Urban Land - 23
2024 Fall Issue of Urban Land - 24
2024 Fall Issue of Urban Land - 25
2024 Fall Issue of Urban Land - 26
2024 Fall Issue of Urban Land - 27
2024 Fall Issue of Urban Land - 28
2024 Fall Issue of Urban Land - 29
2024 Fall Issue of Urban Land - 30
2024 Fall Issue of Urban Land - 31
2024 Fall Issue of Urban Land - 32
2024 Fall Issue of Urban Land - 33
2024 Fall Issue of Urban Land - 34
2024 Fall Issue of Urban Land - 35
2024 Fall Issue of Urban Land - 36
2024 Fall Issue of Urban Land - 37
2024 Fall Issue of Urban Land - 38
2024 Fall Issue of Urban Land - 39
2024 Fall Issue of Urban Land - 40
2024 Fall Issue of Urban Land - 41
2024 Fall Issue of Urban Land - 42
2024 Fall Issue of Urban Land - 43
2024 Fall Issue of Urban Land - 44
2024 Fall Issue of Urban Land - 45
2024 Fall Issue of Urban Land - 46
2024 Fall Issue of Urban Land - 47
2024 Fall Issue of Urban Land - 48
2024 Fall Issue of Urban Land - 49
2024 Fall Issue of Urban Land - 50
2024 Fall Issue of Urban Land - 51
2024 Fall Issue of Urban Land - 52
2024 Fall Issue of Urban Land - 53
2024 Fall Issue of Urban Land - 54
2024 Fall Issue of Urban Land - 55
2024 Fall Issue of Urban Land - 56
2024 Fall Issue of Urban Land - 57
2024 Fall Issue of Urban Land - 58
2024 Fall Issue of Urban Land - 59
2024 Fall Issue of Urban Land - 60
2024 Fall Issue of Urban Land - 61
2024 Fall Issue of Urban Land - 62
2024 Fall Issue of Urban Land - 63
2024 Fall Issue of Urban Land - 64
2024 Fall Issue of Urban Land - 65
2024 Fall Issue of Urban Land - 66
2024 Fall Issue of Urban Land - 67
2024 Fall Issue of Urban Land - 68
2024 Fall Issue of Urban Land - 69
2024 Fall Issue of Urban Land - 70
2024 Fall Issue of Urban Land - 71
2024 Fall Issue of Urban Land - 72
2024 Fall Issue of Urban Land - 73
2024 Fall Issue of Urban Land - 74
2024 Fall Issue of Urban Land - 75
2024 Fall Issue of Urban Land - 76
2024 Fall Issue of Urban Land - 77
2024 Fall Issue of Urban Land - 78
2024 Fall Issue of Urban Land - 79
2024 Fall Issue of Urban Land - 80
2024 Fall Issue of Urban Land - 81
2024 Fall Issue of Urban Land - 82
2024 Fall Issue of Urban Land - 83
2024 Fall Issue of Urban Land - 84
2024 Fall Issue of Urban Land - 85
2024 Fall Issue of Urban Land - 86
2024 Fall Issue of Urban Land - 87
2024 Fall Issue of Urban Land - 88
2024 Fall Issue of Urban Land - 89
2024 Fall Issue of Urban Land - 90
2024 Fall Issue of Urban Land - 91
2024 Fall Issue of Urban Land - 92
2024 Fall Issue of Urban Land - 93
2024 Fall Issue of Urban Land - 94
2024 Fall Issue of Urban Land - 95
2024 Fall Issue of Urban Land - 96
2024 Fall Issue of Urban Land - 97
2024 Fall Issue of Urban Land - 98
2024 Fall Issue of Urban Land - 99
2024 Fall Issue of Urban Land - 100
2024 Fall Issue of Urban Land - 101
2024 Fall Issue of Urban Land - 102
2024 Fall Issue of Urban Land - 103
2024 Fall Issue of Urban Land - 104
2024 Fall Issue of Urban Land - 105
2024 Fall Issue of Urban Land - 106
2024 Fall Issue of Urban Land - 107
2024 Fall Issue of Urban Land - 108
2024 Fall Issue of Urban Land - Cover3
2024 Fall Issue of Urban Land - Cover4
https://www.nxtbook.com/urbanlandinstitute/UrbanLand/2024-fall-issue-of-urban-land
https://www.nxtbook.com/urbanlandinstitute/UrbanLand/2024-spring-issue-of-urban-land
https://www.nxtbook.com/urbanlandinstitute/UrbanLand/2024-winter-issue-of-urban-land
https://www.nxtbook.com/urbanlandinstitute/UrbanLand/2023-fall-issue-of-urban-land
https://www.nxtbook.com/urbanlandinstitute/UrbanLand/2023-summer-issue-of-urban-land
https://www.nxtbook.com/urbanlandinstitute/UrbanLand/2023-spring-issue
https://www.nxtbook.com/urbanlandinstitute/UrbanLand/2022-winter-issue
https://www.nxtbook.com/urbanlandinstitute/UrbanLand/2022FallIssue
https://www.nxtbook.com/urbanlandinstitute/UrbanLand/2022-summer-issue
https://www.nxtbook.com/urbanlandinstitute/UrbanLand/2022-spring-issue
https://www.nxtbook.com/urbanlandinstitute/UrbanLand/ulm-winter-2022
https://www.nxtbook.com/urbanlandinstitute/UrbanLand/summer-issue-2021
https://www.nxtbook.com/urbanlandinstitute/UrbanLand/uli-spring-2021-issue
https://www.nxtbook.com/urbanlandinstitute/UrbanLand/ULIWinter2021
https://www.nxtbook.com/urbanlandinstitute/UrbanLand/URBANLANDFALL2020
https://www.nxtbook.com/urbanlandinstitute/UrbanLand/URBANLANDSUMMER2020
https://www.nxtbook.com/urbanlandinstitute/UrbanLand/URBANLANDSPRING2020
https://www.nxtbookmedia.com