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Volume 17 | Issue 29 | Thursday, July 18, 2019

The Lede


RCLCO: Real Estate Cycle Planning as Important as Ever

The current economic expansion became the longest in U.S. history as GDP grew for the 121st consecutive month. That makes this a good time to plan for a downturn, said RCLCO, Washington, D.C.


Top National News

SEC Calls for Orderly Transition Away From LIBOR

National Mortgage Professional, July 15, 2019--Phil Hall
The SEC called on market participants to "proactively manage their transition" away from the London Interbank Offered Rate, which is set to expire in 2021. In June, the Mortgage Bankers Association's LIBOR Outreach Committee found 92 percent of commercial and multifamily mortgage lenders it polled have already begun planning for the transition away from LIBOR.

Anbang Bidding Proves Investors Still Want High-Profile Hotels and Big Portfolios

National Real Estate Investor, July 15, 2019--Bendix Anderson
The frenzied bidding for a portfolio of high-profile luxury hotel properties owned by Anbang Insurance Group shows just how eager investors still are to put their money into full-service luxury hotels in the U.S.--and the bigger the deal, the better.

Manhattan Condo Slump Starting to Imperil City Developers

Wall Street Journal, July 16, 2019--Konrad Putzier, Esther Fung (subscription)
High-rise developers in Manhattan are coming under stress as tough market conditions are starting to undermine some of the city's most prominent luxury condo projects.

Insurance Companies Expand Multifamily Financing Options

Colorado Real Estate Journal, July 13, 2019--Cooper Williams
According to research conducted by the Mortgage Bankers Association, the insurance companies' mortgage debt holdings increased by 9% in 2018, which is higher than the overall market average for multifamily debt holdings.

Dealmaker of the Week

Newmark Realty Capital Secures $48M

Newmark Realty Capital, San Francisco, arranged $47.85 million for Arizona and California office, mixed-use and hotel assets.

People in the News

Poulos to Lead CBRE National Healthcare

CBRE Group, Los Angeles, appointed John Poulos to lead its healthcare practice, focusing on compliance, facilities management, project management, advisory and transaction and consulting services to healthcare systems throughout the country.

News and Trends

MBA Promotes Lisa Haynes to Senior Vice President, CFO and Chief Diversity/Inclusion Officer

The Mortgage Bankers Association announced promotion of Lisa J. Haynes to Senior Vice President, Chief Financial Officer and Chief Diversity and Inclusion Officer.

CREF Highlights

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

Life Insurers' CRE Mortgage Exposure Grows

Fitch Ratings, New York, said U.S. life insurers' exposure to mortgages increased to nearly 13 percent of invested assets at year-end 2018, up from 12.4 percent a year ago.

Apartments Finish First Half Strong

The first half of 2019 ended "with a flourish" for multifamily real estate, said Yardi Matrix, Santa Barbara, Calif.

Hotel Sector Forecast Downgraded

The hotel sector reported positive results in all three key performance metrics during May, but several analysts downgraded their 12-month forecasts.

CoreLogic: Single-Family Rent Growth Remains Stable as Employment Growth Strengthens

CoreLogic, Irvine, Calif., reported U.S. single-family rent prices increased 3% year over year in May, with low-end rent prices up 3.5%, compared to high-end price gains of 2.5%.

Commercial/Multifamily Briefs

The clock is ticking if you wish to maximize the Opportunity Zone program's advantages, said Cushman & Wakefield.

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

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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