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Volume 15 | Issue 36 | Thursday, August 31, 2017

The Lede

 

Avison Young: 'Emerging Disruptors' Changing Office Market

The U.S. office market is undergoing a shift from trends that change both occupier demand and new product supply, said Avison Young, Toronto.

 

Top National News

 
Vultures Begin to Circle Commercial Real Estate

Wall Street Journal, Aug. 29, 2017--Peter Grant (subscription)
Investors are raising funds to take advantage of busted condominium projects and other distressed property as a correction shows signs of spreading in parts of the commercial real estate industry.

Sen. Chuck Schumer Wants Feds to Renew Flood Insurance Program

Newsday (N.Y.), Aug. 29, 2017--Zachary R. Dowdy
Sen. Chuck Schumer, D-N.Y., will call on his fellow lawmakers in Congress on Tuesday to renew the National Flood Insurance Program as torrential rains and flooding from Tropical Storm Harvey pummel southern Texas.

Billions in Commercial Mortgage-Backed Securities at Risk Due to Harvey

Barron's, Aug. 30, 2017--Amey Stone
Major flooding in Texas is putting at risk about $19.4 billion in properties financed by commercial mortgage-backed securities, according to Morningstar Credit Ratings.

Harvey Flooding Focuses Attention on Troubled Flood Insurance Program

Times-Picayune (New Orleans), Aug. 28, 2017--Drew Broach
Hurricane Harvey's ghastly flooding in the Houston area is sure to focus political attention on the National Flood Insurance Program, a controversial government benefit that makes home ownership affordable to many in south Louisiana. It's $24 billion in debt, and unless Congress acts in the next 34 days, it will expire.

Fed Can Be Patient About Lifting Interest Rates: Powell

Reuters, Aug. 25, 2017
Low inflation and a strong labor market in the United States are allowing the Federal Reserve to be "patient" about when it next raises interest rates, Fed Governor Jerome Powell said Friday.

Harvey Likely to Weigh on Houston's Commercial Property Market for Months

Wall Street Journal, Aug. 29, 2017--Esther Fung (subscription)
Houston's office and retail real-estate markets are likely to get hurt by lost business in the weeks and months immediately following Hurricane Harvey.

News and Trends

 
MBA Offers Hurricane Harvey Services, Resources

The Mortgage Bankers Association has prepared numerous resources for homeowners and renters affected by Hurricane Harvey.

MBA Urges Senate to Move on HUD Nominees

The Mortgage Bankers Association urged Senate leadership to act on key pending nominations at HUD, saying the department needs experienced leaders in place without delay.

MBA Call to Action: Reauthorize and Reform the NFIP

With the National Flood Insurance Program set to expire on September 30, the Mortgage Bankers Association Mortgage Action Alliance issued a Call to Action to ensure three MBA priorities are included in the final legislation passed by the full House.

CREF Highlights

Commercial and multifamily developments and activities relevant to your business and our industry.

Forecasts See Modest Hotel Market Growth

The U.S. hotel industry should see continued "modest" growth through 2018, said separate reports from STR and Fitch Ratings.

Multifamily Rent Growth Softens As Deliveries Peak

Apartment rent growth across the country softened through first-half 2017 as quarterly deliveries get set to peak this quarter, JLL and Real Capital Analytics said.

Marcus & Millichap/NREI: CRE Investor Sentiment Slips

Commercial real estate investor sentiment is cooling gradually, the Marcus & Millichap/NREI Investor Sentiment Survey found.

Aging Population Boosting Demand for Medical Office Buildings

An aging population is boosting demand for medical office properties, reported CBRE, Los Angeles.

Commercial/Multifamily Briefs

Cushman & Wakefield acquired 20 VIC Management Inc., a Canadian commercial real estate management firm servicing pension funds, private equity firms and high-net-worth investors.

People in the News

 
Reid Joins Thorofare Capital

Matthew Reid joined Thorofare Capital as an Associate Director of Credit. He has more than a decade of experience in commercial real estate finance.

Dealmaker of the Week

 
John Hancock Acquires Boston HarborView at the Navy Yard for $149M

John Hancock Real Estate, Boston, acquired HarborView at the Navy Yard, a high-rise multifamily property on Boston Harbor in the Charlestown Navy Yard.

MBA News

 
Now Taking Applications: MBA Education Commercial/Multifamily Future Leaders Program

MBA Education is taking applications for its Commercial/Multifamily Future Leaders Program, an executive leadership development program that delivers a comprehensive curriculum for selected managers who have shown leadership abilities.

MBA Education Multifamily Property Inspection Workshop in Dallas Nov. 8-9

MBA Education presents its popular Multifamily Property Inspection Workshop in Dallas November 8 and 9.

MBA Accounting/Financial Management Conference Nov. 13-15

The Mortgage Bankers Association's Accounting/Financial Management Conference 2017 takes place Nov. 13-15 at the Grand Hyatt San Antonio.

MBA Summit on Diversity and Inclusion Dec. 4-5

The Mortgage Bankers Association's annual Summit on Diversity & Inclusion takes place Dec. 4-5 at the Capital Hilton in Washington, D.C.

About MBA Newslink

President and CEO: Robert Broeksmit, CMB

Publisher: Marcia Davies, Chief Operating Officer

Vice President of Public Affairs: John Mechem jmechem@mba.org

Editor: Mike Sorohan 202/557-2855 msorohan@mba.org 

Editorial Director: Michael Tucker 202/557-2851 mtucker@mba.org 

Senior Editorial/Advertising Specialist: Lesley Hall 202/557-2856 lhall@mba.org

Advertising Opportunities: Bill Farmakis 203/834-8832 bill@jlfarmakis.com

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One Voice. One Vision. One Resource. The Mortgage Bankers Association (MBA) is the national association representing the entire real estate finance industry. For more information visit us at mba.org.