Commercial Metal Buildings: OverviewSince they came into popularity after World War II, commercial metal buildings have grown so popular that these types of structures are still being made to this very day. A steel building is the smart choice for any residential or commercial structure you may be interested in having erected due to its many advantages. Most of the buildings today, especially in urban areas, are made with steel. Below is a definition on how commercial metal buildings are made, how they differentiate from those made with steel frames and a list on the different types of structures that can be created in this manner.Commercial Metal Buildings: How They WorkA company that specializes in making commercial steel buildings fabricate sound structures that are made from steel. For example, some of the services that can be offered for a commercial building include prefab metal buildings, commercial build-out turnkey or renovation and even masonry buildings. Basically, you would have a building made with its structure made from steel. This has an incredible list of advantages which will be tackled below. Once the portion is made for the structure, construction can proceed to finish the project. A lot of the portions that are made for clients are “prefabricated”, which means that it is assembled at the plant before it is shipped to the construction site. This is a much simpler and easier option than bringing over the materials to the site and constructing it on-location. It is very important that modern buildings be made from steel. Not only can prefab commercial buildings made from this material last a long time, they can also withstand the effects of natural disasters.Commercial Steel Buildings: Different Types of StructuresThere is literally nothing that cannot be made in terms of the type of structure for commercial steel buildings. If you want one made, you can simply contact the company and request a quote for metal building prices. Prices vary, depending on what you want made. There are a lot of commercial metal building types that can be made using steel. For instance, storage units can be made for commercial use. The commercial storage buildings are durable, lasts for a long time and can hold a lot of materials and still maintain integrity. Another type of commercial metal building are aircraft hangars, used to safely stow away small planes. If you have a large amount of land and your business deals with raising livestock or farming, equipment is used to manage said type of business. This equipment is vital in maintaining your operations so you need to have them stored in a safe and secure structure, as well as away from harsh elements such as rain and strong wind. A steel agricultural building can be made to house items such as animal feed, various machinery and even vehicles used for farming. Perhaps one of the most relevant commercial steel buildings being constantly made are retail structures. These types of buildings, depending on the size, are used for various commercial purposes. A retail commercial building can be built for something as small as a family restaurant to a large structure capable of housing multiple stores in the complex. Even churches are now being built using commercial-grade steel due to its high quality.Prefab Commercial Buildings: AdvantagesAs previously mentioned, there are plenty of reasons why prefab commercial buildings are the right choice when structures are being erected. Due to various benefits, it seems that having buildings framed from steel is the only choice that should be made. One of the first reasons why prefab commercial buildings is an advantage is due to the longevity that steel provides in terms of maintaining structural integrity. This means that even if the years pass by, no matter how many decades have passed, the building will still remain intact. Buildings are very expensive to make, there is no doubt about that. Why invest in a poor-quality structure that can break down in a couple of years when you can invest wisely in steel structures instead?Another advantage with prefab commercial buildings is that they can withstand natural disasters such as earthquakes, tsunamis, strong winds and typhoons as well. A hurricane strength that is quite high makes lower-quality establishments and structures prone to devastation and complete destruction. This is not the case for commercial metal buildings at all. Due to its strength, it would be near impossible to destroy a building made from steel regardless if it is ravaged by strong winds and tornadoes or even raging waters. This far outweighs the few cons to having a commercial metal building built. True, steel absorbs heat due to its intense conductivity but it does very little to greatly affect the integrity of the structure. In addition, faulty construction can lead to disastrous results. This is why it is very important that commercial metal buildings be made by a reputable company.Commercial Steel Buildings: ConclusionA commercial steel building is very different from steel-framed buildings. The latter uses a steel frame but contain other materials in different portions of the structure to complete the building. On the other hand, commercial steel buildings are entirely made from steel which makes them sturdier and last a whole lot longer than those that only use a frame. The most important thing you need to consider for commercial metal buildings is the contractor or the company you will employ to fabricate the portion for you. A good company is one that has been around for a long time and has a long history of clients that have nothing but praises for the quality of work they have done.
A commercial loan restructure can reduce the amount of interest paid by a borrower or even lower the remaining principal amount still owed on a loan. A loan restructure is available to both businesses and individuals that own commercial properties such as office buildings, shopping centers, strip-malls, hotels, apartment buildings, industrial complexes, and even some properties still in the construction phase.Obtaining a loan restructure can be difficult, especially if the loan is what’s known as a commercial mortgage-backed securities loan or CMBS loan.CMBS are bonds that are sold on Wall Street to investors all around the world. The bonds are used to fund investments on portfolios of commercial loans. The income stream from the property is passed from the property owner to the bond holders.Many of the problems we are seeing today with CMBS loans are due to the fact that years ago underwriting standards became relaxed as intense lending competition resulted from a race for a diminishing population of qualified borrowers. Ratings agencies gave CMBS bonds A-A-A ratings. But the subsequent losses in the CMBS market led to the seizure of that (CMBS) market at the end of 2007.Once a commercial property goes into default, that CMBS loan is then usually managed by a type of specialist known as a special servicer who represents those bond holders. CMBS loans are often more difficult to modify, as the original issuer of the loan is no longer involved and the beneficiaries are individual and institutional investors that sometimes are located over many states and countries around the world.Going It AloneIt is difficult for a struggling commercial-property owner to obtain a loan restructure on his own, as most commercial-mortgage borrowers don’t know the proper procedure to present and ask for a restructure. A commercial property modification for a distressed property involves difficult negotiations, in-depth market research, financial analysis and hours of tedious data collection, discovery, verification and reporting. Most of this work is alien to the commercial property owners.Commercial property loans are often times structured as portfolio loans since they are generally not securitized like single family residential loans. This structure makes the actual note holder more readily identifiable and approachable permitting an experienced commercial property loss mitigation professional to be much more effective in negotiating a solution that is beneficial to both parties.For a commercial loan restructure to be negotiated successfully, the bank or special servicer agrees with the borrower to permanently (or sometimes temporarily) alter the terms of an original note allowing the monthly payment to be reduced. This agreement can be reached through a series of several strategies including (but not limited to) a straight interest rate reduction, modifying the loan from principle and interest to interest only, a principle reduction, a longer amortization schedule or some combination of these strategies.Call In the CalvaryThere are two crucial factors to make sure that the negotiations for a commercial loan restructure will yield positive results. The first of these is getting the advice of professionals and experts who are very familiar dealing with troubled assets; and the second important factor is being proactive. By being proactive is meant that the commercial property owner has to have the foresight regarding foreseeable problems in the future-the longer he waits to address a looming bad situation or the longer he waits to get help, the more difficult the situation becomes to handle.The most important thing an owner of a distress commercial property can do is to be proactive by seeking the help of professionals and experts in the commercial property restructuring industry.Commercial property loan restructure professionals are familiar with the complexities of a commercial loan modification and knowledgeable in the kinds of information and documents that special servicers and banks require when a property owner applies for a loan restructuring.The services offered by a commercial restructure consultant would include a go-forward plan to salvage the owners’ investment in the property. Every case is different, and the services offered would depend on the needs of the client.Possible outcomes for commercial restructure include:· Term extension: This is when the bank agrees to extend the maturity on a loan that cannot be refinanced because of high loan-to-value (LTV), but has cash flow sufficient to service the debt.· Permanent modification: Often, a complex transaction that the bank is reluctant to do as it often reduces the value of the asset on the banks books.· Principal reduction: These are usually only done in relation to a short sale or short refinance where the bank accepts less than the full value to settle the debt. The bank won’t reduce the principal so the property owner can make a profit.· New equity partner: The bank is more likely to work with a borrower that is willing to release equity in the property to a new investor that comes in with cash.· Bankruptcy: Unlike residential property, when an individual is in bankruptcy, the judge can “cram down” or reduce the principal or otherwise modify the terms of the mortgage.A professional who knows the ropes will minimize the stress for the property owner, but more importantly, certainly improve the chances of success, and speed up the negotiation process. Commercial loss mitigation experts with a solid track record in executing successful loan workouts are worth their fees, as they more often accomplish their primary objective, which is to avoid the repossession of the commercial property.Jeramie Concklin