California + Finance | October 18, 2017

A bill introduced to Congress would require all federal agencies to bring their employees back to the office, an initiative supported by the Real Estate Roundtable

HVCRE Bill Advances in House Financial Services Committee

A bill to change the High Volatility Commercial Real Estate (HVCRE) rule is making its way through the the House Financial Services Committee. The bill to create a single standard passed the committee by a bipartisan vote of 59-1.

The Clarifying Commercial Real Estate Loans Act was originally proposed in April. The modified legislation is seeking to more clearly define HVCRE loans, clarify aspects of the contributed capital exemption, define conversion from HVCRE to permanent loans status, and implement a grandfathering provision.

An amendment adopted does three things:

Clarifies that the bill still applies, even if the definition of “high volatility commercial real estate (HVCRE) exposure is changed” to “high volatility acquisition, development, or construction (HVADC) exposure;
Adopts the “primarily finances” test in the regulators’ proposed rule;
Aligns the bill’s two “income-producing” exclusions with the “permanent loan” exclusion in the regulators’ proposed rule, by applying a debt service requirement to the acquisition of existing, income-producing property.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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