Blueshift Ideas Talks About Construction Lending, Sees "Positive Trends"
Blueshift Ideas is out with a series of tweets talking about their latest research report, commercial construction spending.
In the research, Blueshift said that commercial construction lending is loosening in both New York, as well as Texas. The research firm note that it has done this report three times prior, and this is the first time it has seen a "positive trend in something other than multi-family." It also noted that office construction in New York and Texas were gaining strength.
Blueshift, based out of San Francisco, noted that sources in New York, Dallas, and Houston were citing a slight improvement in both the lending and commercial construction. The San Francisco-based research firm cited the oil industry as a reason for Texas being strong, and weak inventory in New York City.
Community banks, hard money and private funds are doing the bulk of the lending, while banks such as Bank of America (NYSE: BAC), Citigroup (NYSE: C), and other large banks are not doing much lending. Blueshift also noted that student housing demand is increasing with support. It mentioned names like American Campus Communities, Inc. (NYSE: ACC), Education Realty Trust, Inc. (NYSE: EDR) and Campus Crest Communities Inc (NYSE: CCG) as potential beneficiaries in this space.
