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Volume 16 | Issue 37 | Thursday, September 13, 2018

The Lede


Commercial Real Estate Price Growth Wanes

U.S. commercial property price growth lost steam for the fourth consecutive month in July, reported Real Capital Analytics, New York.


Top National News

Trade Groups Make New Push on GSE Reform

National Mortgage Professional, Sept. 5, 2018--Phil Hall
A coalition of housing, mortgage financial services trade organizations issued a public letter to the Trump Administration and congressional leaders asking that reform efforts involving the government-sponsored enterprises be given a new degree of priority.

New York's World Trade Center Struggles to Fill Office Space

Wall Street Journal, Sept. 11, 2018--Peter Grant (subscription)
Nearly 20 percent of One World Trade Center remains empty four years after it opened.

The Government May Want to Buy Your Dying Mall

Wall Street Journal, Sept. 11, 2018--Esther Fung (subscription)
These municipalities, concerned that vacated retail centers will blight the landscape and drag down surrounding property values, have been buying up malls they fear are being starved of capital by the private sector.

RealPage Completes $100 Million Acquisition of LeaseLabs

HousingWire, Sept. 11, 2018--Ben Lane
The acquisition of LeaseLabs is just the latest for RealPage, a provider of software and data analytics to the real estate industry. This is RealPage's sixth since January 2017 and pushes the company's total outlay for its recent expansion past $1 billion.

Highland Capital Is Close to $300 Million Rental-Home Deal

Bloomberg, Sept. 7, 2018--Patrick Clark, Gillian Tan
Highland Capital Management LP, the asset manager founded by Jim Dondero and Mark Okada, is under contract to buy a portfolio of single-family rental homes managed by VineBrook Partners LLC for more than $300 million, according to people with knowledge of the deal.

Rental Glut Sends Chill Through the Hottest U.S. Housing Markets

Bloomberg, Sept. 7, 2018--Prashant Gopal
Renters are gaining the upper hand in urban centers across the U.S. as new amenity-rich apartment buildings constructed in response to big rent gains in previous years are forced to fight for customers.

News and Trends

On Anniversary of GSE Conservatorship, MBA, Trade Groups Issue 'Open Letter' to Administration, Congress on GSE Reform

The Mortgage Bankers Association and nearly 30 trade groups representing the real estate finance industry and community groups took the extraordinary step of publishing an Open Letter to the Trump Administration and Congress, urging them to step up efforts to reform the secondary housing market.

MBA Chart of the Week: Commercial/Multifamily Delinquency Rates Since 1996

It is hard to overstate how low commercial and multifamily mortgage delinquency rates are today.

Small-Balance Market Shows Resilience

Despite pressure from rising interest rates, valuations on properties securing small-balance multifamily loans have shown clear resilience, said Arbor and Chandan Economics.

Strong Outlook, Abundant Capital in Multifamily Sector

Strong market fundamentals, an abundance of capital and an influx of investors continue to propel the multifamily market, said Real Capital Markets, Carlsbad, Calif.

CMBS Delinquency Rate Drops, Loss Severities Increase

The commercial mortgage-backed securities delinquency rate fell again in August for the sixth consecutive month, but large loans liquidated with high loss severities drove up the second quarter's loss severity figure, analysts said.

Sizzling Industrial Sector Could Face Headwinds

Industrial real estate's record-strong fundamentals remain in place, but the sector could see some future headwinds including labor shortages and tariffs, analysts say.

Commercial/Multifamily Briefs

BridgeCore Capital, Beverly Hills, Calif. commenced operations providing private bridge financing for commercial and non-owner-occupied residential properties throughout California.

People in the News

Murphy Joins Sun Life Investment Management

Sun Life Investment Management, New York, appointed Tom Murphy Head of Affiliate Development and Business Strategy.

Dealmaker of the Week

Pebblebrook Hotel Trust, LaSalle Hotel Properties to Merge in $5.2B Deal

Pebblebrook Hotel Trust and LaSalle Hotel Properties, both real estate investment trusts headquartered in Bethesda, Md., agreed to merge in a deal valued at $5.2 billion.

MBA News

MBA Commercial/Multifamily Marketing Officer Roundtable in Washington Oct 3-4

MBA business peer roundtables bring together professionals from commercial and multifamily real estate finance firms.

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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