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We’re ready for the TRID rules!

At 5 p.m. EST June 17, the Consumer Financial Protection Bureau issued a statement that the effective date for the TILA-RESPA Integrated Disclosure (TRID) rules would be pushed back to Oct. 1, 2015.

CFPB Director Richard Cordray said in a prepared statement: “The CFPB will be issuing a proposed amendment to delay the effective date of the Know Before You Owe rule until Oct. 1, 2015. We made this decision to correct an administrative error that we just discovered in meeting the requirements under federal law, which would have delayed the effective date of the rule by two weeks. We further believe that the additional time included in the proposed effective date would better accommodate the interests of the many consumers and providers whose families will be busy with the transition to the new school year at that time.”

Rainier Title has been working towards the TRID implementation for over a year and felt prepared for August 1st. However, with the proposed delay we will be taking this opportunity to continue our education and training of TRID. While we believe that we have been proactive and ready for this change, there are still so many unknowns that will have to be addressed at the time of implementation. The industry should still prepare for 45-60 days for transaction to close due to the new timing parameters of the forms.

We’re working hard to be ready for all changes!


Real Estate Roundup

Active Home-Building Industry Will Lead to More Demand for Warehouse Space

Strong consumer spending and the rise in housing construction activity are currently the prime factors for the incredible rebound of the U.S. industrial real estate sector, and experts say as home buying continues to increase, so will demand for warehouse space. — From NRE Online

To Buy or Not to Buy: That Is the Developer’s Question

Continue reading “Real Estate Roundup” »

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Q Sentral KL Sentral

Completed in year 2014, Q Sentral KL Sentral has gross floor area of 1.4mil sf & divided into 297 units. The launching price of this KL Sentral Grade A office building is ranging from RM1,190psf to RM1,500psf. Divided into high zone & low zone, high zone is only for sale on per floor basis from 15,000sf to 40,880sf while low zone contains 16 units per floor from 1,366sf to 3,420sf

Q Sentral gross development value is RM1.2bil for a total gross floor space of 1.4 million sf of office, retail and recreational space. Green Building Index (GBI) and Multimedia Super Corridor (MSC) certifications are some of the main features of this KL Sentral Office.

Furthermore, this iconic KL Sentral office offers great accessibility due to its strategic location which is connected to KL Sentral. Tenant will enjoy easy access to major rail systems such as KTM Komuter, KLIA Transit, KLIA Ekspress, KL Monorail, RapidKL LRT, KTM Intercity as well as the incoming MRT in 2017.

Property Details
Q Sentral KL Sentral
Address: Jalan Stesen Sentral, KL Sentral, 50470 Kuala Lumpur
Developer: MRCB
Completion Date: 2014
Type: Office Suite & Retail
Low Zone: 1,366 – 3,420 sf
High Zone: 15,000 – 40,880 sf
No of Blocks: 1
No of Storey: 42
No. of Units: 297
Launch Price: RM1,190 – RM1,500 psf

Q-sentral External View

Q Sentral is attractive to investors and corporate in the sense that comes with a prestigious business office address and that the building is fully GBI and MSC compliant. It is definitely a practical thing KL Sentral that is a transportation hub, for traffic can be pretty bad at times especially during peak hours. Office workers, businessmen and visitors can always opt to travel by trains and buses as a cheaper and less stressful means of transportation.

A quick check shows that nearby office buildings are being rented out for RM7.00 – RM8.50 psf. Assuming this rate remains the same by the completion date, investors of Q Sentral will very likely be able to get a good Return of Investment (ROI) from this.

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Plaza Sentral KL Sentral

Plaza Sentral OfficePlaza Sentral is famous of its strategic location for business, which offers office on the border of the central business district and transportation hub. This popular KL Sentral office is made up of Phase 1 (3 blocks) and Phase 2 (4 blocks) of premier office suites. It is conceived as a business with many world class multinationals as tenants. Phase 2 of Plaza Sentral is also home to Kuala Lumpur Sentral’s technology businesses under its MSC Malaysia Cybercentre Status.

Plaza Sentral office tower offers excellent access routes and superior telecommunications facilities. Its corporate tenants comprised of various multinationals such as service-related companies,IT-based companies, legal firms as well as international insurance companies.Choices of business-class dining outlets and restaurants are available with a breeze walk to Sentral Station or Sooka Sentra. Besides food court is also available at Lower Ground level for working-class employee’s daily consumption.

The tenants in Plaza Sentral can enjoy the superb convenience of availability of hotels and condominium located just opposite the road which is within less than a minute walking distance to the office. Busy frequent flight-travelers the can check-in in Sentral station in the morning, and catch their evening flight with KLIA express train directly to KLIA.

As for surrounding area, Plaza Sentral is strategically situated within the heart development of KL Sentral. In addition to office building which also are part of the development are CIMB HQ and One Sentral Tower. Furthermore, there is a well known transportation hub which is Stesen Sentral.

This new commercial building at KL Sentral is connected to various types of public transportation such as Rapid KL LRT, KTM Komuter, KTM Intercity, KLIA Express Rail Link, KLIA Transit and KL Monorail services to provide intercity connections and direct links to the KL Internatinonal Airport, with only 1.5km from Kuala Lumpur central business district.

The location of Plaza Sentral at the world-class development of KL Sentral does not need any further information, as this “City-within-a-City” is one of the most significant areas in KL Sentral. In fact, it is a bustling commercial tie with office towers, retail centres, next to 5-star hotels such as Le Meridien and Hilton.

The design of Plaza Sentral with futurist-holistic concept, reflects with cutting-edge technology combining seamlessly well-planned layout of spacious plazas, shops, restaurants, indoor courtyards, sidewalk cafes as well as a number of pedestrian walkways.