For more than 10 years, Cardinal Realty Group has served the Greater St. Louis Metro area, providing stellar commercial real estate services to local clients as well as global clients interested in foreign real estate investments. The team of professional, expert real estate agents at Cardinal Realty Group are dedicated to making every type of real estate transaction easy and hassle-free, whether a client is in the market to buy, sell, or invest in a property. As an established name in all things commercial real estate, the team at Cardinal Realty Group has an intimate understanding of the commercial real estate market in St. Louis.
St. Louis Commercial Real Estate has always had its ups and downs, but it never experienced as drastic a collapse as the financial market did in the Great Recession/Depression, which started in 2008. Before the recession in 2008, no matter how bad the recession was, you could always borrow money at a price, allowing business to continue. What made this crash so much different is that there was no money to be borrowed. Banks were calling loans on commercial properties because the investors’ equity in the property decreased, even though most of them never missed a payment. In general, the valuation of commercial real estate declined by 30% overnight. To make matters even worse, the government decided that the people needed to be protected from themselves and enacted legislation that restricted the bank’s ability to lend money.
For Hal Hanstein, broker and owner of Cardinal Realty Group, this was a crossroads. He could either become a viable commercial real estate company or go out of business. He realized that foreign investors still had the means and the money to invest, and they were coming to America to buy profitable residential properties. This gave him the idea to provide commercial real estate services to those foreign investors. He recognized the reasons why foreign investors come to America and saw the opportunity to keep his company in business.
Since the recession in 2008, Cardinal Realty Group has handled millions of dollars in commercial real estate transactions, including making deals with foreign investors. To learn more about Cardinal Realty Group and see a current list of their properties, visit them online. You can also call (636) 225-0385 to speak to an agent today.