For more than a year, commercial real estate developers and owners have been struggling to manage the rising costs of development projects. In fact, some find themselves scrambling to raise capital to complete projects as interest rates and construction costs continue to increase.
Trey Korhn and Vince Chillura of Valley Bank see this reality firsthand every day. Korhn and Chillura, based in Tampa, co-manage the commercial real estate lending division for Valley Bank's operations in the Southeast, helping developers and owners navigate a constantly changing financial landscape.
Valley Bank has been involved in financing for a number of high-profile development projects in west-central Florida, such as the Epicurean Hotel in Tampa, the Ace Hardware distribution center in Lakeland, the Midtown Lofts office project, the Armature Works mixed-use facility, and the Gasworx project in Tampa.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
