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Volume 16 | Issue 42 | Thursday, October 18, 2018

The Lede


MBA Announces 2019 Commercial Real Estate/Multifamily Finance Governors

WASHINGTON, D.C.--The Mortgage Bankers Association announced members of its Commercial Real Estate/Multifamily Finance Board of Governors (COMBOG) for 2019 here at the MBA Annual Convention & Expo.


Top National News

BofA Looks to Fill CRE Lending Void

American Banker, Oct. 15, 2018--Andy Peters (subscription)
Commercial real estate lending has fallen out of favor with some lenders, but Bank of America increased its exposure to the segment in the third quarter.

Sears, the Original Everything Store, Nears a Bankruptcy Filing

New York Times, Oct. 14, 2018--Michael Corkery
A decade ago, Sears employed 302,000. Today, there are about 68,000 people still working at Sears and Kmart and the retailer is preparing a Chapter 11 bankruptcy filing to cut its debts and keep operating at least through the holidays, according to two people briefed on the matter.

With Market Hot, Landlords Slam the Door on Section 8 Tenants

New York Times, Oct. 12, 2018--Glenn Thrush
Many landlords are now refusing to accept vouchers when they can get higher rents, without the bureaucratic red tape, on the open market.

Big Lenders Make Push to Liquidate Sears

Wall Street Journal, Oct. 11, 2018--Suzanne Kapner, Lillian Rizzo (subscription)
Some of Sears Holdings Corp.'s biggest lenders were pushing for it to liquidate rather than use bankruptcy protection to try to save an American legend whose stores and catalogs dominated retailing for generations.

Lenders Fear Worst from Rent Control Measure on California Ballot

National Mortgage News, Oct. 10, 2018--Hannah Lang (subscription)
Mortgage lenders are anxiously following a ballot initiative fight over rent control in California that they say could be detrimental for the industry as a whole.

Apartment Rentals Now Make Up a Larger Share of New Housing Units in the U.S. Than They Have in Decades

National Real Estate Investor, Oct. 17, 2018--Bendix Anderson
Apartment rentals have been luring residents away from other kinds of housing since the housing crash, and that is not likely to change in the foreseeable future as new housing preferences and low ownership affordability drive greater demand for apartment rentals.

News and Trends

MBA Future Leaders Program Graduates 36 Commercial/Multifamily Real Estate Finance Professionals

WASHINGTON, D.C.--The Mortgage Bankers Association recognized 36 mortgage professionals from the commercial/multifamily market segment in a graduation ceremony for its Future Leaders Program here at the association's Annual Convention & Expo.

CREF Highlights

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

Higher Mortgage Rates Drive Apartment Investment Market Index Decline

Significant mortgage rate increases once again drove declines in the Freddie Mac Multifamily Apartment Investment Market Index in the second quarter and from a year ago.

CMBS Delinquency Rate Drops Again; More than $10B in Retail Debt Affected By Sears Bankruptcy

The commercial mortgage-backed securities delinquency rate fell 23 basis points in September to 3.41 percent, reported Trepp LLC, New York.

CRE Investors Favor Markets with Young Workforces, E-commerce, STEM Jobs

Dallas/Fort Worth returned to the No. 1 spot for commercial real estate investors due to its young workforce and high business start-up activity, reported PwC US, New York, and the Urban Land Institute, Washington, D.C.

Online Retailers Invest in Bricks

A record number of e-commerce retailers opened physical stores last year and 850 more are set to open in the next five years, reported JLL, Chicago.

Multifamily Demand Remains Strong

Though U.S. multifamily rents remained essentially flat in September--the first month rents had not increased since January--year-over-year rent growth remained healthy at 3.0 percent, reported Yardi Matrix, Santa Barbara, Calif.

Commercial/Multifamily Briefs

Cushman & Wakefield's Chicago office acquired multifamily institutional investment sales brokerage firm KIG CRE.

People in the News

IRR Expands Litigation Practice Group

Integra Realty Resources, Denver, announced one of its original founding members, Stephen Crosson, joined as National Practice Leader of the Integra Litigation Practice Group, which provides litigation support services for real estate-related legal cases.

Dealmaker of the Week

CBRE Secures $43M for Office, Retail

CBRE, Los Angeles, arranged $43.1 million for a California office property and an Arizona shopping center.

MBA News

MBA CREF Connects Event at Hudson Yards Oct. 30

MBA CREF Connects regional events bring together commercial real estate professionals in markets across the country.

CREF19 in San Diego Feb. 10-13

The Mortgage Bankers Association's Commercial Real Estate Finance/Multifamily Housing Convention & Expo 2019 returns to San Diego Feb. 10-13.

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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