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Volume 17 | Issue 28 | Thursday, July 11, 2019

The Lede

 

Apartment Demand Surges

U.S. apartment demand spiked during the second quarter as occupancy climbed to nearly 96 percent, said RealPage, Richardson, Texas.

 

Top National News

 
New York Condo Conversions Near the End, a Casualty of Rent Reform

Wall Street Journal, July 8, 2019--Josh Barbanel, Will Parker (subscription)
A longtime New York City practice that promoted homeownership, transformed neighborhoods and enriched thousands of middle-class renters is effectively over. It ended on June 14, when a New York state law to strengthen tenant protections went into effect.

Foreign Investors Slow Down U.S. Hotel Acquisitions

National Real Estate Investor, July 9, 2019--Sebastion Obando
Foreign investors reduced buying activity in the U.S. hotel sector so far this year, according to industry experts.

This Startup Wants to Sell You a Slice of a Rental Home

Wall Street Journal, July 8, 2019--Ryan Dezember (subscription)
A California startup is hoping investors will buy portions of houses as well. Roofstock, which operates a website where investors buy and sell occupied rental properties without disturbing tenants, has launched a marketplace where investors can buy stakes as low as 10 percent in single-family rental homes.

Dealmaker of the Week

 
JLL Income Property Trust Acquires San Diego Medical Office Campus

JLL Income Property Trust, Chicago, acquired Genesee Plaza, a two-building medical office campus in San Diego's University Town Center neighborhood.

People in the News

 
Phillips Realty Capital Hires Shaw

Phillips Realty Capital hired Malcolm Shaw as a managing director in its Bethesda, Md. headquarters. He will be part of the production team, structuring debt and equity financing for the privately owned mortgage banking firm's commercial real estate clients.

News and Trends

 
Office Sector 'Sluggish' Despite Economic Growth

Last week the U.S. economy entered its longest expansion in history. Yet the office market remains "sluggish," noted Reis Chief Economist Victor Calanog.

June CMBS Delinquency Rate Increases

The commercial mortgage-backed securities delinquency rate saw a rare increase in June, but that figure comes with a "footnote," reported Trepp, New York.

Growing Investor Demand for Seniors Housing

Investor appetite for seniors housing is growing. Nearly two-thirds of investors plan to increase their buying over the next 12 months, said CBRE, Los Angeles.

Single-Tenant Net Lease Cap Rates Drop Across Sectors

Single-tenant net lease cap rates fell across the board in the second quarter, reported The Boulder Group, Northbrook, Ill.

Commercial/Multifamily Briefs

A group of New York-based net lease investment professionals based launched a national commercial real estate brokerage firm, SAB Capital.

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.

MBA Expands Path to Diversity Scholarship Program Eligibility to Select Conferences

The Mortgage Bankers Association announced that scholarships awarded under its popular Path to Diversity (P2D) Scholarship Program can now also be used towards six upcoming MBA conferences where attendees can obtain Continuing Professional Education (CPE), Continuing Legal Education (CLE) or Society of Human Resource Management (SHRM) credits. The scholarships were previously only available for courses offered by MBA Education.

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.