Banks may play bigger role in real estate
Banks may play bigger role in real estate Linknet Real Estate News, January 9, 2006The U.S. federal agency that regulates the activities of banks has recently allowed two banks to be involved in developing and owning two large commercial real estate properties. The agency, the Office of the Comptroller of the Currency, a division of the U.S. Department of the Treasury, has normally restricted this kind of involvement because of fears that large banks could monopolize real estate markets and control rents. There has also been concern that the speculative nature of real estate investing could do harm to bank capital. The approvals were granted to two unidentified banks. One involved a "new, mixed-use office building" and another was for a 150-room hotel to lodge the bank's out-of-town visitors. One of the banks in question is thought to be Charlotte, N.C. based Bank of America. This may indicate more involvement in by banks in the real estate industry in the future. -------------------------------------------- Commercial Real Estate Loans We are the ultimate specialist in small commercial loans. We don't do ANYTHING else. --------------------------------------------
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