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Volume 15 | Issue 41 | Thursday, October 05, 2017

The Lede


Reis: Retail Sector Defies Negative Reports

Retail sector statistics defied otherwise negative reports of store closures--posting positive net absorption and holding vacancy steady in the second quarter--reported Reis, New York.


Top National News

Commercial, Multifamily Mortgage Debt Rises to $3.6 Trillion in U.S.

World Property Journal, Sept. 28, 2017--Michael Gerrity
According to the Mortgage Bankers Association's Commercial/Multifamily Mortgage Debt Outstanding Report, total U.S. commercial and multifamily mortgage debt outstanding rose to $3.06 trillion at the end of the second quarter, as three of the four major investor groups increased their holdings.

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.

Economic Consensus Masks Many Uncertainties

Commercial Property Executive, Oct. 4, 2017--Paul Fiorilla
While economists foresee little chance of a recession in the near term, potential policy changes could affect the U.S. economy and commercial real estate values.

Investors Pile Into Emerging-Market Real Estate

Wall Street Journal, Oct. 3, 2017--Peter Grant (subscription)
Investors are showing more interest in commercial real estate in Asia, South America and other emerging markets, where growth trends and the lure of outsize returns overshadow the additional political and financial risks these regions can pose.

Manhattan Condos Are Barely Yielding More Than Government Treasuries

Bloomberg, Oct. 2, 2017, Oshrat Carmiel
Newly purchased condos that were listed for lease in the second quarter brought their owners a median return of 2.5 percent, according to an analysis released Monday by property-listings website StreetEasy.

Psst, Heard About That Deal? CompStak to Bring its Crowdsourcing Model to Sales

The Real Deal (New York), Oct. 2, 2017--Hiten Samtani
CompStak, the real estate information firm that shook up the clandestine world of office leasing by introducing crowdsourced comps, is now taking on the investment-sales space.

Trump Meets With Former Fed Governor Kevin Warsh About Chairman Job

Wall Street Journal, Sept. 29, 2017--Michael C. Bender (subscription)
President Donald Trump and Treasury Secretary Steven Mnuchin met with former Federal Reserve governor Kevin Warsh on Thursday to discuss his potential nomination as the next Fed chairman, a White House official said, signaling that the West Wing is moving ahead with a process that the president has said he would like to have completed by the end of the year.

Manhattan Resale Home Prices Set a Record, Even After Discounts

Bloomberg, Oct. 3, 2017--Oshrat Carmiel
The price of Manhattan resale homes hit a record in the third quarter, but sellers shouldn't get too bullish. It took some discounting to get there.

News and Trends

MBA Offers Member Resources in Wake of Equifax Breach

In the aftermath of the massive Equifax data breach, the Mortgage Bankers Association is a clearinghouse of resources for its members.

MBA: 2Q C/MF Mortgage Debt Rises to $3.06 Trillion

Total commercial/multifamily mortgage debt outstanding rose to $3.06 trillion at the end of the second quarter, an increase of $48.7 billion, or 1.6%, from the first quarter, the Mortgage Bankers Association reported this week.

MBANow: MBA SVP Bill Killmer on MAA Action Week

The Mortgage Bankers Association released two new MBANow videos featuring MBA Senior Vice President of Legislative and Political Affairs Bill Killmer, who discusses the MBA Mortgage Action Alliance "Action Week" (Oct. 2-6).

DLA Piper: CRE Optimism Slips

Optimism among U.S. commercial real estate executives continues to slip from its 2014 high point, DLA Piper's 2017 State of the Market Survey reported.

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.

Commercial/Multifamily Briefs

Morgan Stanley Investment Management, New York, acquired Mesa West Capital, Los Angeles.

People in the News

CBRE Promotes Parsons to Lead National Data Center Practice

CBRE, Los Angeles, promoted John Parsons to lead the firm's national data center practice for Valuation & Advisory Services.

Dealmaker of the Week

Berkadia Secures $186M for Mixed-Use, Multifamily Assets

Berkadia, New York, secured $157 million for 750 North Glebe, a mixed-use development under construction that will include 491 residential units and 61,000 square feet of retail space in Arlington, Va.

MBA News

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.

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.

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.

Make Your Voice Heard through MBA Mortgage Action Alliance

The Mortgage Action Alliance is a voluntary, non-partisan and free nationwide grassroots lobbying network of real estate finance industry professionals, affiliated with the Mortgage Bankers Association.

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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