New to the Nova Team – July 2016

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Byron Nelson Golf Tournament

On Friday, May 20, Nova hosted guests at our signature suite overlooking the 17th green at the Byron Nelson Golf Tournament. The event was hosted by the TPC Four Seasons Resort in Irving, Texas. . Read more

Lien Laws and Avoiding Construction Delays

Money flows on a construction project, from lender to borrower to general contractor to subcontractor and supplier—that’s a lot of changing hands, and that means risk. This is why our lending clients often ask for advice on the specifics of lien laws and lien waivers. For those active in construction lending, one version or another of a lien waiver document likely crosses your computer screen at least once a day. These files are a lot like receipts—receipts which state that, in ... Read more

A UK “Brexit” and the Commercial Real Estate Market

You’ve likely recently heard the term “Brexit”—in the news, on the radio, in conversation—but do you know what it is? In short, on June 23, 2016, the United Kingdom is holding a referendum to determine if there should be a British exit (nicknamed “Brexit”) from the European Union. If adopted, the UK would leave the 28-member coalition government in Brussels, in favor of more economic and political autonomy. This is a highly controversial move, akin to Texas voting to leave the US, ... Read more

New to the Nova Team – May 2016

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Case Study: Incorporating Energy Efficiency into Your Capital Improvement Plan

In the fall of 2014, Kurt Shillington at Princeton Properties hired Nova Consulting Group for an energy retrofit of the company’s newly acquired Princeton Dover Apartment Homes. The property is a 5.84-acre parcel hosting 10 three-story buildings with 125 garden-style apartments and a stand-alone management-leasing office. It is located close to downtown Dover, New Hampshire, and includes amenities such as a swimming pool, a tot lot, an exercise room, and generous amounts of open space.  Heat at the property is provided ... Read more

KPMG Survey Finds CRE Investors Positive but Prudent in 2016

Investors expect 2016 to be another great year for commercial real estate, as noted in KPMG LLP‘s 2016 Real Estate Industry Outlook Survey. Succinctly put, Phil Marra, national real estate funds leader with KPMG, told Commercial Property Executive, “Respondents to our survey remain cautiously optimistic about the real estate investment environment in 2016.” KPMG queried senior executives across the industry, and on the topic of real estate fundamentals in 2016…well, there couldn’t be a more positive group. A whopping 91 percent of respondents expect ... Read more

Nova’s Construction Services Group

It’s sometimes difficult for a lender to determine the extent of due diligence necessary when funding a construction project. When engaging a consultant, you are looking for a partner and guide through the pre-construction, construction, and closing stages of a project. You want the deal started on the right foot. Therefore, whether you are affiliated with a larger lending institution with an internal engineering department or your construction lending is handled on a case-by-case basis, it is important to have a trusted ... Read more

Commercial Real Estate Outlook with Ryan Severino

We have turned to Ryan Severino, Senior Economist and Director of Research at Reis, Inc., to opine upon the current market and offer some guidance and insight.  We always enjoy and value hearing Ryan's outlook and hope you appreciate his "cautious optimism." The New Year certainly has gotten off to an inauspicious beginning. With equity and commodity markets gyrating, fear has crept into the US economy and the real estate markets. However, as we look forward to what 2016 holds, we need to ... Read more

Fannie Mae Loan Products Encourage Energy Efficiency

Fannie Mae is offering several different loan products to encourage borrowers to include energy efficiency measures in a renovation scope. Loans are available for new construction, rehab, and as a supplemental financing source. Below is a quick summary of each loan product: Green Building Certification: Fannie Mae is granting a 10 basis point reduction in the interest rate of a multifamily refinance, acquisition, or supplemental mortgage loan for properties with a recognized green certification. These certifications include Energy Star, LEED, and Enterprise Communities, among ... Read more
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