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Volume 17 | Issue 31 | Thursday, August 01, 2019

The Lede

 

Industrial Assets Lead CRE Price Growth

Real Capital Analytics reported commercial property prices rose 6.5 percent in June from a year earlier, led once again by industrial assets, which increased at their fastest rate since early 2015.

 

Top National News

 
Transitioning From LIBOR

Commercial Property Executive, July 25, 2019--Jamie Woodwell (MBA Mention)
Uncertainty surrounds strategies for managing this watershed change, as many firms wait on the sidelines for others to take the lead.

Trump's Ambitious Fannie, Freddie Overhaul Faces Hurdles

Reuters, July 26, 2019--Pete Schroeder
"You're trying to reform what is the financing behind one-sixth of the economy," said Pete Mills, senior vice president at the Mortgage Bankers Association. "You've got to do it in a way that doesn't disrupt the marketplace, and that's the challenge."

Amazon's New York Office Hunt Includes WeWork-Owned Lord & Taylor Building

Wall Street Journal, July 25, 2019--Eliot Brown, Suzanne Kapner (subscription)
Amazon.com Inc. is scouring New York City for new office space, including the historic building that formerly housed Lord & Taylor's flagship store.

Goldman Tries to Exorcise Ghost of Real Estate Past With New Fund

Wall Street Journal, July 30, 2019--Peter Grant (subscription)
Goldman Sachs's newly reorganized real estate investment unit is reviving a fund business the firm shut down after it suffered steep losses during the financial crisis.

CMBS Issuance Focuses on 'Bulletproof' Retail Loans

National Real Estate Investor, July 31, 2019--Beth Mattson-Teig
Investors are getting increasingly concerned about the outlook for retail-backed commercial mortgage-backed securities 2.0 loans.

Dealmaker of the Week

 
Newmark Knight Frank Brokers $64M in Office Transactions

Newmark Knight Frank, New York, brokered two office sales totaling $63.6 million in California and Minnesota.

People in the News

 
Walker & Dunlop Appoints Chief Production Officer to Lead FHA Finance Team

Walker & Dunlop, Bethesda, Md., hired Stephanie Wiggins as Senior Vice President and Chief Production Officer of the FHA Finance team. She will oversee the production team for Walker & Dunlop's multifamily lending through HUD.

News and Trends

 
CREF Highlights

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

New York City, New Jersey Office Rents at Record Highs

Transwestern Commercial Services said office rents in the New York City and New Jersey markets reached record levels in the second quarter, with overall Manhattan rents topping $80 per square foot.

Ten-X: Capital Markets, Labor Market Healthy

Despite concerns about cooling global economic growth and potential trade wars, capital markets and the labor market remain in good shape, said Ten-X Irvine, Calif.

Falling Rates Bolster 1Q Apartment Investment Outlook

The apartment investment outlook improved in the first quarter after showing deterioration in late 2018, Freddie Mac reported.

Office Investment Regaining Consistency

Real Capital Markets, Carlsbad, Calif., said the office investment market is back on track and buoyed by significant capital for deal-making following some political and economic uncertainty over the past year.

Commercial/Multifamily Briefs

The National Credit Union Administration is changing the regulation requiring real estate appraisals for certain commercial real estate transactions.

MBA News

 
MBA Education Webinar: Expect the Best, Prepare for the Worst: CRE Loan Workouts 101 Aug. 14

Join MBA Education August 14th from 2:00-3:30PM ET for a webinar that explores the topic of commercial mortgage loan workouts by convening subject matter experts from Trimont Real Estate Advisors, CW Capital, Fitch Ratings, Rialto and PGIM.

CRE Basics: Property Inspection and Environmental Concerns Starts August 19

MBA Education presents CRE Basics: Property Inspection and Environmental Concerns. The course will explain what the property inspection tells the underwriter and how the results of the inspection affect the underwriting.

mPact: MBA's Network for Young Professionals

mPact is MBA's network for young professionals in the real estate finance industry. Join a community of your peers, share your experiences with others online, network with industry insiders, hone your skills or have a voice in the future of real estate finance.

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.