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Volume 15 | Issue 42 | Thursday, October 12, 2017

The Lede


MBA, Trade Groups Urge House Support of HVCRE Bank Capital Bills

The Mortgage Bankers Association, in a separate letter and with a coalition of industry trade groups, urged members of the House Financial Services Committee to support legislation that would clarify and amend the High Volatility Commercial Real Estate bank capital rule.


Top National News

Predicting the Death of the Mall, One J.C. Penney at a Time

Bloomberg, Oct. 11, 2017--Rachel Evans, Claire Boston
Data analysis firm System2 identified an additional 197 J.C. Penney stores at risk of closing after the embattled retailer announced plans to shutter as many as 140 shops. System2 LLC said the outlets--from San Bernardino, Calif. to an Omaha, Neb. suburb--have a 64-plus percent likelihood of closing.

Renters Think the Housing Market is Finally Loosening Up...

CNBC, Oct. 10, 2017--Diana Olick
The Mortgage Bankers Association reported credit availability increased in September.

The State of the Debt Market for Commercial Real Estate

Real Estate Weekly, Oct. 5, 2017--Steven Kohn
2017 continues to be a great year to be a borrower, Cushman & Wakefield Vice Chairman Steven Kohn said. "Financing is readily available at virtually all leverage levels at attractive pricing."

Manhattan Office Leasing Jumps on Financial-Sector Hiring

Wall Street Journal, Oct. 8, 2017--Keiko Morris (subscription)
Manhattan office leasing kicked into high gear in the third quarter as financial services jobs surpassed prerecession levels in August, but new construction kept rental increases low, according to new statistics released by real estate services firm JLL.

Why Commercial Real Estate Lending by Big Apple's Home-Grown Banks Is Down

National Real Estate Investor, Oct. 5, 2017--Ely Razin
Why are these Big Apple lenders cutting back on their commercial real estate financing activity?

Investors Look for Bargains in Undervalued Markets

National Real Estate Investor, Oct. 4, 2017--Beth Mattson-Teig
Property values have surged steadily higher in the prolonged recovery. But that high tide isn't raising all boats as some metros are still falling short of 2007 pricing.

Institutional Investors Develop Bigger Appetite for Debt Funds

National Real Estate Investor, Oct. 11, 2017--Beth Mattson-Teig
Capital flowing into private equity debt funds has been steadily rising for the past three years.

News and Trends

CREF Highlights

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

Avison Young: CRE Slows But 'Robust' Deal Flow Remains

U.S. commercial real estate in first-half 2017 lagged slightly compared to one year ago, reported Avison Young, Toronto.

September CMBS Delinquency Rate Drops Again

The commercial mortgage-backed securities delinquency rate fell again in September--the third straight month--reported Trepp LLC, New York.

3Q Single-Tenant Net Lease Cap Rates Decrease

Single-tenant net lease sector cap rates decreased for the first time across all asset classes in the third quarter, reported Boulder Group, Northbrook, Ill.

Apartment Rent Growth Stable; Occupancy Remains Tight

U.S. apartment rents saw flat rent growth in September but moderate third-quarter growth, said RealPage, Richardson, Texas, and Yardi Matrix, Santa Barbara, Calif.

Renting vs. Buying: The Roommate Factor

Trulia, San Francisco, notes it's a better deal to buy than rent in America's largest housing markets--and for much of that time it hasn't been close. But does the equation change for renters who share their rent with a roommate? The answer: it depends a lot on where you live.

Stability--But Caution--in Hotel Sector

The hotel sector continues to display stability, "but with a dose of caution regarding future growth," said US Realty Consultants, Columbus, Ohio.

Commercial Briefs

Pillar Financial, New York, received approval as a Fannie Mae Seniors Housing Lender through the GSE's Delegated Underwriting and Servicing program.

People in the News

Walker & Dunlop Hires Fathaly

Walker & Dunlop, Bethesda, Md., hired Telly Fathaly as a managing director of Walker & Dunlop Investment Sales.

Dealmaker of the Week

JLL Secures $96M for Philadelphia Office Tower

JLL, Chicago, secured $96 million for Taconic Capital Advisors and Cohen Equities to acquire 801 Market Street, a 695,000-square-foot office tower in Philadelphia's Market East submarket.

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.

Enrollment Deadline Approaching: FHA Multifamily Underwriter Training

The MBA Education FHA Multifamily Underwriting Training Program--the most extensive and rigorous curriculum of its kind in the industry--starts Jan. 8. Open enrollment ends Oct. 31.

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 Atlanta Mar. 21-22

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

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

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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