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Volume 16 | Issue 30 | Thursday, July 26, 2018

The Lede

 

Apartment Investment Market Index Slips

Continued multifamily property price growth has emerged as a key factor driving quarterly and annual declines in Freddie Mac Multifamily's Apartment Investment Market Index.

 

Top National News

 
Chinese Reversing Big U.S. Real Estate Buying Spree That Had Helped Boost Prices

Wall Street Journal, July 24, 2018--Esther Fung (subscription)
Chinese investors have become net sellers of U.S. commercial real estate for the first time in a decade, reversing a years-long trend when these buyers spent tens of billions of dollars and helped boost the market for hotels and other properties.

Design Parking Garages So They Can Easily Become Housing

Fast Company Magazine, July 23, 2018--Megan Ridgeway
As a future where there are vastly fewer cars becomes possible, we should consider future-proofing new parking lots to make sure they can easily transition into other uses once they're no longer needed.

California Burning: As Wildfires Increase How Is Real Estate Going to Cope?

Commercial Observer, July 23, 2018--Allison Stateman
California is a state prone to natural disasters from earthquakes and mudslides to wildfires. In addition to myriad other effects, this has become a real estate concern.

Senate Democrats Unveil Sweeping Rent Reform Proposal

HousingWire, July 20, 2018--Alcynna Lloyd
The Rent Relief Act, introduced by Sen. Kamala Harris, D-Calif., and endorsed by Sens. Dianne Feinstein, D-Calif., Richard Blumenthal, D-Conn., and Maggie Hassan, D-N.H., aims to create a new, refundable tax credit, that "puts more money in the pockets" of families, especially at a time when rent prices are outpacing wage growth.

Early Payoffs Supress Banks' CRE Loan Books

American Banker, July 23, 2018--Andy Peters (subscription)
Flush with capital and anxious about the impact of rising interest rates on monthly loan payments, more commercial real estate investors than ever are paying off their bank loans before they mature.

Slowdown in Office Construction Might Be Coming in 2019

National Real Estate Investor, July 24, 2018--Patricia Kirk
While new office construction has been robust so far in 2018, next year developers might begin pulling back, according to David Bitner, head of Americas capital markets research with Cushman & Wakefield. He cited rising construction costs, concerns about the end of the real estate cycle and zoning issues as the reasons.

News and Trends

 
MBA Urges Senate Approval of Industry Priorities in T-HUD, Financial Services Appropriations Bills

The Senate meets today to vote on key appropriations legislation for fiscal year 2019. Ahead of its session, the Mortgage Bankers Association asked approval of key provisions that support FHA and Ginnie Mae technology upgrades, as well as safeguards for multifamily loans and other funding priorities.

MBA Asks Federal Agencies to Finalize Rule on Regulatory Reductions

The Mortgage Bankers Association, in a letter to federal regulatory agencies, requested the agencies provide final rules stemming from their proposal to simplify certain aspects of their capital rules.

CREF Highlights: Randal Quarles, CNA e-Tool and Disparate Impact Rule

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

CMBS Delinquencies Continue to Decline

Strong new issuance volume and continued resolution activity contributed to the second consecutive month of decline in the commercial mortgage-backed securities delinquency rate last month, reported Fitch Ratings, New York.

Single-Family Rent Growth Increases

Rents for U.S. single-family rental assets increased 2.9 percent year-over-year in April, up from 2.6 percent a year ago, reported CoreLogic, Irvine, Calif.

'Solid' Second Quarter for Offices as Jobs Grow

U.S. office markets posted "solid" performance in the second quarter with steady leasing volumes, healthy absorption and rising asking rents.

People in the News

 
HFF Hires Pappas as Director in Chicago

Holliday Fenoglio Fowler expanded its debt and equity placement team by adding Stella Pappas as a director in its Chicago office.

Dealmaker of the Week

 
George Smith Partners Arranges $32M for Hotel Construction

George Smith Partners, Los Angeles, arranged $32.4 million for the ground-up development of IHG Hotel Indigo, a 35-acre resort hotel in Coachella, Calif., for developer Glenroy Coachella.

MBA News

 
Commercial Loan Origination Sales Training Workshop in New York Sept. 18-19

Take your sales to the next level by acquiring the skills needed to be effective and productive, exploring well-established sales practices and strategies, and learning the tools successful mortgage bankers utilize to close deals and establish a competitive advantage at this workshop.

MBA Diversity & Inclusion Awards Entry Deadline Tomorrow

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.

MBA Member Advantage Program Adds New Partners

Your MBA membership entitles you to discounts on services such as office supplies, car rental, shipping, employee benefit services and more though our affinity program: MBA Member Advantage.

About MBA Newslink

President and CEO: Robert Broeksmit, CMB

Publisher: Marcia Davies, Chief Operating Officer

Vice President of Public Affairs: John Mechem jmechem@mba.org

Editor: Mike Sorohan 202/557-2855 msorohan@mba.org 

Editorial Director: Michael Tucker 202/557-2851 mtucker@mba.org 

Senior Editorial/Advertising Specialist: Lesley Hall 202/557-2856 lhall@mba.org

Advertising Opportunities: Bill Farmakis 203/834-8832 bill@jlfarmakis.com

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One Voice. One Vision. One Resource. The Mortgage Bankers Association (MBA) is the national association representing the entire real estate finance industry. For more information visit us at mba.org.