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Volume 16 | Issue 29 | Thursday, July 19, 2018

The Lede


Reports Cite 'Plateau' in Commercial Real Estate Asset Prices

Commercial real estate asset prices have "plateaued" and transaction volume has moderated as the real estate cycle matures, reported Green Street Advisors, Newport Beach, Calif., and CoStar, Washington, D.C.


Top National News

Can't Find a Parking Spot? There are 1.6 Million in Des Moines

Des Moines Register, July 13, 2018--Kevin Hardy
Eric Scharnhorst, author of the Mortgage Bankers Association report, says an oversupply of parking spaces means city leaders have the chance to rethink the uses for many dedicated parking areas, which are often in coveted parts of town.

Wells Fargo's Doug Mazer Talks Competition and the Bank's Path Forward

Commercial Observer, July 18, 2018--Matt Grossman
The Commercial Observer said the most influential commercial real estate finance leader last year wasn't yet a jet-setting investment manager or the executive behind a secretive private portfolio but the most traditional of entrants: Doug Mazer, the chief of Wells Fargo's real estate capital markets team.

Canadian Pension Fund Pumps $250M into Avison Young Expansion

Real Estate Weekly, July 18, 2018
Canadian institutional fund manager Caisse de dépôt et placement du Québec made a $250 million preferred equity investment into Avison Young.

New York City to Consolidate Housing Subsidy Programs

New York Times, July 18, 2018--Nikita Stewart (subscription)
New York City is consolidating its system of rental subsidies after four years of complaints from landlords wary of accepting vouchers and homeless people who have tried to use the vouchers to move out of shelters.

New Hotel or Affordable Housing? Race Is On to Define 'Opportunity Zones'

Wall Street Journal, July 13, 2018--Ruth Simon, Richard Rubin (subscription)
A new Marriott hotel in the Phoenix area might seem a world apart from an affordable-housing complex in the Watts neighborhood of Los Angeles, but both are poised to benefit from the new "opportunity zone" program created in last year's federal tax overhaul.

As CRE Lending Landscape Shifts, Nonbank Lenders Step Up

Forbes, July 16, 2018--Evan Gentry
Even though CRE loans celebrated a record-breaking year in 2017, according to a Mortgage Bankers Association report, the CRE market also started to see slowing property value growth and decelerating property sales.

News and Trends

MBA Call to Action on National Flood Insurance Program Reauthorization

Facing a July 31 expiration date for the National Flood Insurance Program, the Mortgage Bankers Association's grassroots advocacy arm, the Mortgage Action Alliance, issued a Call to Action, urging its members to call their elected officials to vote on a long-term reauthorization.

MBANow: Mark Fisher of StanCorp Mortgage on Commercial Real Estate Ecosystem

The Mortgage Bankers Association released a new MBANow video featuring Mark Fisher, Vice President and Managing Director at StanCorp Mortgage Investors, who discusses the commercial real estate finance ecosystem and MBA engagement/advocacy.

'Mixed' Office Sector Results in 2Q

The office sector saw mixed results in the second quarter as both vacancy and effective rents increased, reported Reis, New York.

Hotel Rates, Bookings Continue to Grow

North American hotel owners continued to experience "significant" growth across all travel segments in the second quarter, reported TravelClick, New York.

Prime Logistics Rents Accelerate Globally Amid E-Commerce Growth

Prime logistics rents--the highest achievable lease rates for top-quality warehouse and distribution center space--increased globally in the fiscal year ending March 31, reported CBRE, Los Angeles.

Commercial/Multifamily Briefs

Alternative asset management firm Canyon Partners, Los Angeles, closed a real estate debt vehicle with more than $450 million in total commitments.

People in the News

Rodgers Named Enterprise Community Partners Vice President, Denver Market Leader

Jennie Rodgers joined Enterprise Community Partners as Vice President and Denver Market Leader.

Dealmaker of the Week

HFF Arranges $353M

Holliday Fenoglio Fowler, Houston, arranged $324 million in construction financing and joint venture equity for Arsenal Yards, a six-building mixed-use redevelopment of the former Arsenal Mall in Watertown, Mass.

MBA News

Public Comments Sought: Revised MBA Standard Property Inspection Form

The Mortgage Bankers Association released for public comment a revision to its Standard Property Inspection Form.

MBA Diversity & Inclusion Awards Entry Deadline July 27

The Mortgage Bankers Association is accepting nominations for its annual residential Diversity and Inclusion Awards, to be presented at the MBA Annual Convention & Expo in October. Nomination deadline is Friday, July 27.

mPowering You Summit for Women in Real Estate Finance in D.C. Oct. 13

mPowering You, the Mortgage Bankers Association's Summit for Women in Real Estate Finance, takes place Saturday, Oct. 13 at the Walter E. Washington Convention Center in Washington, D.C., ahead of the MBA Annual Convention & Expo.

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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