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CASTRO REAL ESTATE SERVICES WAS FOUNDED WITH THE GOAL OF HELPING CLIENTS WITH ALL THEIR REAL ESTATE NEEDS, ONE CLIENT AT A TIME.
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2020
In Business Since
195
Transactions
390
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Commercial
This will see the size of investors' appetites for office refinancing.
A $3.5B Test Case for Office Refinancing
By Erik Sherman
If someone tests the temperature of water by sticking a toe in, it looks as though the owners of Manhattan's Rockefeller Center took a long dive into the center of a lake.
Owner Tishman Speyer Properties is readying a plan to raise $3.5 billion to refinance the massive urban office tower, according to the Financial Times. Bank of America and Wells Fargo are reportedly involved, and the Canada Pension Plan Investment Board was involved in talks according to insiders.
The deal is one of many that will have to take place if office markets are to eventually work their way out of the dumps and back to a level of normalcy. The deal could indicate whether the largest, most iconic properties can attract the money necessary to refinance at fiscally realistic rates.
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Residential
How the NAR settlement is impacting local real estate transactions
By Jordan Arceneaux
New rules that changed the traditional commission structure for real estate transactions are having an impact on the Baton Rouge-area market.
The changes are the result of a $418 million court settlement with the National Association of Realtors.
According to a Redfin report, the new rules began affecting deals once the settlement was announced. The average commission per agent was 2.55% in July, down from 2.62% in January.
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