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Volume 16 | Issue 20 | Thursday, May 17, 2018

The Lede

 

MBA Says 1Q C/MF Borrowing Down from 4Q, Up from Year Ago

First quarter commercial/multifamily mortgage loan originations fell by one-third from the fourth quarter but edged up from a year ago, the Mortgage Bankers Association reported this morning.

 

Top National News

 
Why Universities Became Big-Time Real Estate Developers

Slate Magazine, May 11, 2018--Henry Grabar
A university is now the largest employer in two-thirds of America's 100 largest cities and they have enthusiastically seized more economic and urban development responsibilities.

Cities Now Use Taxes to Fight Blight. Is It Working?

Governing Magazine, May 14, 2018--J. Brian Charles
Some cities are turning to vacant property taxes to nudge property owners of both retail and residential spaces to lease, develop or sell their properties before a short-term vacancy turns into what some cities see as blight.

In the Pipeline: Navigating This Multifamily Sellers' Market

HousingWire, May 11, 2018--Jeremiah Jensen
The multifamily market is in on hold as far new starts go with the exception of an odd permitting blip registered over the course of March, in which permit numbers spiked by 19%. That aside, researchers are predicting a slowdown in new construction starts as the market is full-up on Class-A product, and construction costs don't allow for developers to build Class-B product.

These 95 Apartments Promised Affordable Rent in San Francisco. Then 6,580 People Applied

New York Times, May 12, 2018--Emily Badger
The development, Natalie Gubb Commons, was reserved for households with incomes up to 50 percent of the local median. The applications were open for three weeks last fall, and 6,580 households applied for a chance to rent there, or nearly 70 for each unit.

Economists See Less Risk of Economic Downturn Over The Next Year

MarketWatch, May 12, 2018--Gregg Robb
Economists have trimmed their odds of an economic downturn through early 2019, according to the latest survey of professional forecasters released by the Philadelphia Fed on Friday.

The Time May Be Right for More M&A in the REIT Sector, Analysts Say

National Real Estate Investor, May 15, 2018--Mary Diduch
There are several large proposed real estate investment trust mergers in the books already in 2018, but analysts in the space say the activity may not be done yet.

News and Trends

 
MBA Now: Ashley Gunn on MBA's C/MF Servicing and Technology Conference

The Mortgage Bankers Association's latest MBA Now features MBA Commercial/Multifamily Director Ashley Gunn discussing MBA's Commercial/Multifamily Servicing & Technology Conference.

4 Hot Topics at the Upcoming MBA Commercial Mortgage Servicing/Technology Conference

This weekend, executives from the nation's leading commercial mortgage loan servicing operations will head to Miami to attend the Mortgage Bankers Association's Commercial/Multifamily Servicing & Technology Conference. Our own executives are excited about attending this show, as the strengthening economy indicates to us that these players will become increasingly important--and busy--as we continue moving into 2018.

CMBS Delinquency Rate Measures Diverge Slightly

Following a brief increase in March, the commercial mortgage-backed securities delinquency rate resumed its downward trajectory in April, reported Trepp, New York.

JLL: First-Quarter Transaction Volume Grows

Transaction volumes exceeded expectations in the first quarter with 4.7 percent year-over-year growth, reported JLL, Chicago.

After Years of Growth, Single-Family Rentals 'Stabilizing'

In the wake of the housing crisis, single-family homes grew to more than one-third of U.S. rental stock nationwide. Now, says the Joint Center for Housing Studies at Harvard University, that dramatic growth has stabilized.

Apartment Rent Gains Heat Up With Weather

Multifamily rents continued their strong seasonal gains in April, rising $4--the highest figure since last spring--to a $1,377 national average, reported YardiMatrix, Santa Barbara, Calif.

'Landlord-Favorable' Industrial Real Estate Conditions

U.S. industrial real estate market conditions remained "landlord-favorable" during the 12 months ending March 31, reported Avison Young, Toronto.

'Stable' 1Q Conceals Shifting Market

The first quarter saw stable CRE operating fundamentals, cap rates and transaction volume, but shifts in market participants that drove activity, reported PwC, New York.

People in the News

 
M&T Realty Capital Corp. Appoints Sigeti Managing Director

M&T Realty Capital Corp. appointed John Sigeti a Managing Director in Buffalo, N.Y.

Dealmaker of the Week

 
Meridian Capital Group Arranges $304M

Meridian Capital Group, New York, arranged $251 million in construction financing for Pier 6 at Brooklyn Bridge on behalf of RAL Companies, Vanke US and Oliver's Realty Group.

MBA News

 
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 Annual Convention & Expo in Washington Oct. 14-17

Join thousands of your industry colleagues in our nation's capital this October for the Mortgage Bankers Association' Annual Convention & Expo 2018.

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.