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Volume 16 | Issue 10 | Thursday, March 08, 2018

The Lede

 

MBA: Fourth Quarter C/MF Delinquencies Remain Low, Bank Delinquencies Lowest on Record

Delinquency rates for commercial and multifamily mortgage loans were relatively flat in the fourth quarter, according to the Mortgage Bankers Association's Commercial/Multifamily Delinquency Report.

 

Top National News

 
Commercial Loan Delinquencies Stay Down

Scotsman Guide, Mar. 6, 2018--Victor Whitman
Commercial loan delinquency rates ended 2017 at or near record low levels, according to the Mortgage Bankers Association.

Economists See Clouds in the Silver Lining

Multi-Housing News, Mar. 7, 2018--Paul Fiorilla
At a time when optimism is rampant in the real estate industry and the stock market is near record highs after a massive run-up, economists lived up to their billing as dismal scientists at the National Association of Business Economists annual policy conference in Washington, D.C., last week.

That Much Prophesied Commercial Property Bust Still Hasn't Happened

Wall Street Journal, Mar. 6, 2018--Esther Fung (subscription)
The delinquency rate for securitized loans in the commercial real-estate industry has dropped for eight consecutive months, defying expectations in recent years of a wave of defaults.

Manhattan Apartment Sales Plummet in January to 2012 Low

Reuters, Mar. 5, 23018--Herbert Lash
Apartment sales in Manhattan fell to the lowest monthly rate in January since February 2012 as a declining trend in city-wide sales both by price and volume emerged, listings and data website CityRealty said on Monday.

Fannie Mae Expands Green Lending, Housing Innovation Platforms

Multi-Housing News, March 5, 2018--Sanyu Kyeyune
Fannie Mae Multifamily Executive Vice President Jeffery Hayward sat down at MBA's CREF/Multifamily Housing Convention & Expo in San Diego to provide an industry-wide outlook and discuss the GSE's new initiatives for 2018.

Net Lease Research: Dollar Stores Remain Strong, Convenience Stores Struggling

National Real Estate Investor, Mar. 1, 2018--David Bodamer
Dollar stores--buoyed by budget-conscious consumers and largely insulated from the rise of e-commerce--have become a popular bet for some net lease investors.

CMBS Delinquency Rate Drops for Eighth Consecutive Month

National Mortgage Professional, Mar. 2, 2018--Phil Hall
The delinquency rate has been in a free-fall for eight consecutive months, a 124 bps drop, and Trepp forecasts that "it is now possible that the rate could break the post-crisis low from February 2016 over the next few months."

More Apartment Landlords Offer Free Rent to Lure Tenants

National Real Estate Investor, Mar. 6, 2018--Bendix Anderson
As the percentage of vacant apartments creeps higher in cities and towns across the country, more property managers are offering months of free rent to potential residents to get them to sign leases.

Competition May Force CMBS Issuers to Pursue Higher LTV Loans

National Mortgage News, Mar. 5, 2018--Bonnie Sinnock (subscription)
"Many market participants believe that increased conduit leverage is required for the CMBS market to effectively compete for future commercial real estate loans and maintain CMBS conduit issuance at sustainable levels," Fitch Ratings analysts wrote in a report.

‘Fintech' Firms Take Bigger Bite of Manhattan's Office Market

Wall Street Journal, Mar. 4, 2018--Keiko Morris (subscription)
Financial technology providers are gobbling up Manhattan office space as they expand operations and seek to tap the city's growing tech labor force.

CRE Opinion: How to Profit During Inflation

D Magazine, Mar. 5, 2018--Ari Rastegar
Investing in hard assets can protect against inflation. When an economic shift happens, investors seek to add alternative investments like commercial real estate to their traditional stock, bond and cash portfolios.

News and Trends

 
Hotel Sector Healthy, But Supply Peak Looms

The hotel sector started the year at a healthy pace, but supply growth will likely peak later this year, analysts say.

CMBS Delinquency Rate Falls Sharply

The commercial mortgage-backed securities delinquency rate dropped again in February, marking the eighth consecutive month of improvement, reported Trepp, New York.

Economy, Tax Law Reshaping Office Sector

The new tax law and an increasingly competitive employment market are reshaping companies' office needs--and the potential implications for investors are significant--said Marcus & Millichap, Calabasas, Calif.

Homeownership Declining in Majority of Biggest U.S. Cities

Since 2000, homeownership has declined in a vast majority of America's biggest cities, said Trulia, San Francisco.

Commercial Real Estate Investors See Cause for Optimism

Commercial real estate investors feel more optimistic now than a year ago, the CBRE Americas Investor Intentions Survey said.

Commercial Real Estate Deal Volume Slips

Commercial real estate transaction volume slipped 0.5 percent in the fourth quarter to $117.4 billion, said Real Capital Analytics, New York.

People in the News

 
Newmark Hires Five in San Francisco

Newmark, San Francisco, hired five commercial mortgage banking professionals in its San Francisco production office.

Dealmaker of the Week

 
Fort Mill, S.C. Office Asset Trades for $40M

Cantor Fitzgerald Investors, New York, purchased the 150,000-square-foot Daimler Building office building in Fort Mill, S.C., for $40 million.

MBA News

 
Tax Reform: The Impact on Commercial/Multifamily Lending Webinar Today

Join MBA Education and a panel of industry experts for a timely discussion on tax reform and the impact on commercial/multifamily real estate finance today, March 8, from 2:00 to 3:30 PM ET.

MBA Commercial Loan Origination Sales Training Workshop in Chicago Mar. 29

MBA Education presents its Commercial Loan Origination Sales Training Workshop in Chicago Mar. 29.

MBA Commercial/Multifamily Servicing/Technology Conference in Miami May 20-23

The Mortgage Bankers Association's annual Commercial/Multifamily Servicing and Technology Conference takes place May 20-23 at the Intercontinental Miami.

CREF Market Intelligence Symposium July 11-12 in New York

The Mortgage Bankers Association CREF Market Intelligence Symposium cuts through the clutter to provide hard facts about the state of commercial real estate markets--what we do and don't know.

MBA Education Multifamily Property Inspection Workshop in Chicago July 11-12

MBA Education presents its popular Multifamily Property Inspection Workshop in Chicago July 11 and 12, 2018.

MBA Expands C/MF Mortgage Banking Licensing Law Resource

The Mortgage Bankers Association updated and expanded its state-by-state compilation of commercial/multifamily mortgage state licensing requirements.

MBA Education Launches Commercial Insurance Webinar Series

MBA Education in collaboration with Insurance Advisors LLC and Fortress Risk Consultants LLC is offering 13 webinars over the next two years that will cover commercial insurance types, commercial insurance industry processes and commercial insurance compliance.

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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