CRE News: What We’re Reading the Week of February 4

Each week, The Elevator Speech summarizes news related to some of the key industry trends, buildings, deals and dealmakers that shaped headlines. Below are articles that caught our attention the week of February 4.

  • According to data from Built in Chicago, 197 technology startups were launched in Chicago last year. While the amount of local venture capital dropped 73 percent, from $1.45 billion in 2011 to $391 million last year, the number of companies raising more than $1 million increased by 15 in 2012. In addition, Chicago was third in tech acquisitions last year, partly due to Groupon purchasing 12 companies. Similarly, Excelerate Labs teamed up with TechStars, one of the best-known start-up accelerators in the country, to attract more investors and applicants to Chicago’s technology community.

cmbs

  • The delinquency rate for Chicago-area CMBS loans spiked in the past three months, hitting a new high of 10.8 percent in January. However, the market looks brighter in the coming months, as rents rise and servicers that handle defaulted CMBS loans move more aggressively to modify the loans or foreclose, which should lead to lower delinquencies.

What CRE or Chicago news headlines from the past week captured your interest? Leave us a comment and let us know.

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About BOMA/Chicago

The voice of Chicago's office building industry since 1902.
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