Commercial Real Estate Financing News + More: Global Logistic Properties to Buy Hillwood's U.S. Industrial Portfolio for $1.1 Billion + MORE 09/14/2016

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Tax Returns versus Stated Income!

Most traditional banks will require several years of tax returns in order to qualify for a commercial real estate loan. The alternative is to use a Stated Income lender that does not verify personal income or assets. Many borrowers will simply not qualify for a commercial mortgage loan if tax returns are used due to high business expenses (and low net income). Many lenders using tax returns will also continue to verify income after the loan closes. Stated Income lenders will not engage in this practice.

A Virginia gun rights group is suing the makers of the recent documentary “Under the Gun,” including Katie Couric, alleging defamation and seeking $12 million in damages.

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Glenn Beck has settled a lawsuit filed by the Saudi Arabian student he wrongly accused of providing financial backing for the 2013 Boston Marathon bombings.

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Legendary billionaire investor Carl Icahn wants to more than double his investment in the controversial nutritional supplements firm Herbalife.

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Recent commercial real estate transactions in New York City.

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Continuing its U.S. buying spree, Global Logistic Properties, Ltd. (GLP) today announced a deal to purchase a 15-million-square-foot logistics portfolio from Hillwood Development Co. for $1.1 billion to expand its sizeable presence in the U.S. market.

Singapore-listed GLP, the largest owner of logistics property in China, Japan and Brazil and the second-largest owner of industrial real estate in the United States behind San Francisco-based Prologis…

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Wells Fargo CEO John Stumpf is “sorry” for the fake-account scandal at his bank, but he’s got no plans to exit despite a growing firestorm.

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