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Volume 15 | Issue 47 | Thursday, November 16, 2017

The Lede


House Passes Bill Overhauling Flood Insurance Program

The House on Tuesday approved legislation overhauling the National Flood Insurance Program, a key plank in the Mortgage Bankers Association's legislative agenda this year.


Top National News

Commercial Mortgage Loans Jump 8 Percent in Third Quarter

Financial Regulation News, Nov. 13, 2017--Dave Kovaleski
Commercial and multifamily mortgage loan originations were up 8 percent in the third quarter, according to the Mortgage Bankers Association's Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations.

Banks Seek Level Playing Field for CRE Construction Lending

National Mortgage News, Nov. 10, 2017--Brad Finkelstein (subscription)
If H.R. 2148 passes, banks should be used more often as a capital source for construction loans, said Bruce Oliver, the Mortgage Bankers Association's associate vice president for policy in the commercial and multifamily group.

Are We There Yet? Percentage of CRE Pros Who Believe the Cycle is at its Peak Continues to Rise

National Real Estate Investor, Nov. 15, 2017--Elaine Misonzhnik
As the current market cycle gets long in the tooth, the percentage of NREI readers who think we have reached the peak continues to gradually increase.

Trump Administration Reportedly Considering Mohamed El-Erian for Fed Vice Chair

HousingWire, Nov. 14, 2017--Ben Lane
Last month, Mohamed El-Erian told the Mortgage Bankers Association Annual Convention that it didn't matter who President Donald Trump chose as the next chair and vice chair of the Federal Reserve, because the path for the central bank's future was already laid out. It turns out it could be El-Erian himself taking over for the departed Stanley Fischer as the next Fed vice chair.

Construction Costs Rise for Apartment Projects

National Real Estate Investor, Nov. 14, 2017--Bendix Anderson
The cost of apartment-construction materials rose 3.6 percent over the year that ended in September, the Bureau of Labor Statistics' Producer Price Index reported.

Tax Overhaul Bills Keep '1031 Exchange' and Add Other Commercial Property Perks

Wall Street Journal, Nov. 14, 2017--Peter Grant (subscription)
The residential real estate industry might be panicking about the Republican-backed tax overhaul making its way through Congress, but many in the commercial real estate industry are delighted with what they see so far.

Commercial Real Estate Should Get Ready for Autonomous Vehicles

Daily Report, Nov. 14, 2017--Patrick Spook
Autonomous vehicle benefits are significant, but to realize the benefits and avoid disruption in commercial real estate, all parties should cohesively plan for a future without drivers behind the wheel.

Fed's Bostic: Gradual Rate Rises Appropriate Over Next Several Years

Wall Street Journal, Nov. 14, 2017--Michael Derby (subscription)
Federal Reserve Bank of Atlanta President Raphael Bostic said Tuesday the U.S. central bank should press forward with interest-rate rises.

Brookfield Property Makes $14.8 Billion Offer to Acquire Remainder of GGP

Wall Street Journal, Nov. 12, 2017--Dana Mattioli (subscription)
Brookfield Property Partners LP has made a $14.8 billion offer to acquire the shares of mall owner GGP Inc. that it doesn't already own.

News and Trends

TH Real Estate: 'Doomsday' Scenarios Oversimplify U.S. Retail Landscape

Though negative news headlines about the retail sector abound, smart investors can still find investment opportunities, said TH Real Estate, London.

Small-Cap CRE Leasing Velocity Slows

Small-cap commercial real estate leasing velocity slowed "considerably" during the third quarter as rent growth accelerated, reported Boxwood Means, Stamford, Conn.

Dodge Momentum Index Bounces Back

The Dodge Momentum Index--a leading indicator of future commercial real estate construction--rose in October, climbing 13.2 percent.

Hotel Sector Slowing; Development Costs Rising

After six years of occupancy growth, hotel sector performance may have reached the top of its cycle, reported HVS Global Hospitality Services, Mineola, N.Y.

Commercial/Multifamily Briefs

Blackstone and Ivanhoe Cambridge announced plans to implement the largest private multifamily rooftop solar project in the United States.

People in the News

Newmark Names Bratt And Koston Partners

Newmark, San Francisco, promoted two producers to Partners, Andy Bratt, based in Newport Beach, Calif., and Demetri Koston, based in Spokane, Wash.

Dealmaker of the Week

Grandbridge Real Estate Capital Arranges $147M for Hotel, Multifamily

Grandbridge Real Estate Capital, Charlotte, N.C., arranged $147 million to refinance three hotel and multifamily properties in Colorado and Georgia.

MBA News

CREF18 in San Diego Feb. 11-14

The Mortgage Bankers Association's Commercial Real Estate Finance/Multifamily Housing Convention & Expo 2018 returns to San Diego Feb. 11-14.

Taking Applications Until Nov. 20: MBA Education C/MF Future Leaders

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 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.

MBA Education Multifamily Property Inspection Workshop in Atlanta Mar. 21-22

MBA Education presents its popular Multifamily Property Inspection Workshop in Atlanta March 21 and 22, 2018.

About MBA Newslink

President and CEO: Robert Broeksmit, CMB

Publisher: Marcia Davies, Chief Operating Officer

Vice President of Public Affairs: John Mechem

Editor: Mike Sorohan 202/557-2855 

Editorial Director: Michael Tucker 202/557-2851 

Senior Editorial/Advertising Specialist: Lesley Hall 202/557-2856

Advertising Opportunities: Bill Farmakis 203/834-8832

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