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Volume 16 | Issue 35 | Thursday, August 30, 2018

The Lede


Wells Fargo Leads MBA Mid-Year Commercial/Multifamily Servicer Rankings

The Mortgage Bankers Association today released its mid-year ranking of commercial and multifamily mortgage servicer volumes as of June 30. At the top of the list of firms is Wells Fargo Bank NA, with $654.0 billion in master and primary servicing.


Top National News

CBRE Global Investors Buys Stake in Three GGP Malls

Wall Street Journal, Aug. 27, 2018--Esther Fung (subscription)
CBRE Global Investors has purchased a 49% stake in three malls in a deal that values them at more than $1 billion and shows that investors still have an appetite for top-tier retail property.

The Markets that Have Seen the Most Construction Starts So Far in 2018

National Real Estate Investor, Aug. 24, 2018--David Bodamer
Five of the top 10 markets for commercial and multifamily construction starts in the first half of 2018 showed increased activity compared to the same period in 2017.

CMBS Loan Prices Down in July

National Mortgage Professional, Aug. 27, 2018--Phil Hall
Prices of commercial real estate loans underlying commercial mortgage-backed securities were down slightly in July.

Life Company Lenders Feel Pressure to Tighten Spreads on CRE Loans

National Real Estate Investor, Aug. 30, 2018--Beth Mattson-Teig
Life company lenders remain firmly at the table when it comes to commercial real estate financing despite tighter spreads and a push by some borrowers for more flexible pre-payment options.

News and Trends

MBA Chart of the Week: Commercial/Multifamily Mortgage Banker Originations, By Property Type

Commercial and multifamily mortgage borrowing and lending have started 2018 at the second fastest pace on record, with first-half 2018 originations lower only than those of the first half of 2007. This week's chart shows origination growth for the four main categories of loans from 2009 to 2018 (year to date).

MBA Welcomes 12 New Members

The Mortgage Bankers Association welcomed 12 new regular members to its ranks, which currently numbers more than 2,300 member companies.

MBA Offices Closed Monday

Offices of the Mortgage Bankers Association will be closed Monday, Sept. 3 in observation of the Labor Day holiday.

'Sustained' Confidence Among Multifamily Brokers, Mortgage Bankers

The rest of 2018 should see strong multifamily real estate activity, Berkadia's Mid-Year Powerhouse Poll said.

Abundant Capital, Economic Growth Keep Cap Rates Stable

A "wall" of domestic and global capital, economic growth and a low interest rate environment led to broadly stable capitalization rates for U.S. commercial real estate in first-half 2018, reported CBRE, Los Angeles.

Single-Family Rental Rates Up 4.1% in First Half

Low rental home inventory relative to demand fueled the growth of single-family rental rates in the first half, reported CoreLogic, Irvine, Calif.

'Neither Too Hot Nor Too Cold' CRE Environment

Several metrics and indicators suggest commercial real estate is in a ‘late stable' stage of the market cycle for most property types in most geographies, said RCLCO, Bethesda, Md.

People in the News

Grandbridge Names Rocco President

Grandbridge Real Estate Capital, Charlotte, N.C. announced Matthew Rocco has been named president and will continue to serve as national production manager, overseeing the company's national loan origination platform.

Dealmaker of the Week

Newmark Secures $49M for Mixed-Use, Industrial Assets

Newmark, San Francisco, secured $48.5 million in permanent financing for mixed-use and industrial assets in Washington and Arizona.

MBA News

MBA Single-Family Rental Finance Call Sept. 10

The Mortgage Bankers Association will host a call of its Single-Family Rental Finance Council on Monday, Sept. 10.

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

MBA Commercial/Multifamily NewsLink, a weekly electronic publication, is a member benefit free to employees of MBA member companies, and available by paid subscription to non-members. For membership information, click here.

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