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Volume 17 | Issue 27 | Wednesday, July 03, 2019

The Lede


MBA 1Q Commercial/Multifamily DataBook Reports Uptick in Vacancy Rates, Asking Rents

Commercial property vacancy rates generally ticked up in the first quarter, but so did asking rents, the Mortgage Bankers Association's First Quarter 2019 Commercial/Multifamily DataBook reported.


Top National News

Commercial Property Joins Tech Revolution as Spending Soars

Wall Street Journal, July 2, 2019--Peter Grant, Konrad Putzier (subscription)
For years, real estate technology startups watched from the fringes as big banks and venture capital firms lavished attention on financial technology firms. Now "proptech" has joined the party.

Situs and AMC Complete Merger

National Mortgage Professional, June 28, 2019--Phil Hall
The combined business will operate as SitusAMC and have more than $175 billion of commercial assets under management and provide fair value assessment on more than $290 billion of commercial real estate assets quarterly.

Obsolete Office Buildings Offer Investors a Myriad of Opportunities for Adaptive Re-Use

National Real Estate Investor, June 28, 2019--Patricia Kirk
Landlords with older office buildings struggling with low occupancy may want to consider converting them to uses with higher demand for the location,
including housing, hotels, schools, retail, start-up incubators or industrial facilities.

JLL's $2 Billion Acquisition of HFF to Close on July 1

HousingWire, June 28, 2019--Ben Lane
Under the terms of the deal, which was originally announced in March, JLL will acquire all the outstanding shares of HFF in a cash and stock transaction that carries an equity value of $2 billion.

FASB to Consider Delaying CECL Deadlines for Smaller Firms

American Banker, June 27, 2019--John Heltman, John Reosti (subscription)
The Financial Accounting Standards Board is considering whether to consolidate or delay the deadlines for smaller firms to comply with a contentious new credit loss accounting standard, according to the association's chairman.

Dealmaker of the Week

Marcus & Millichap Brokers $59M in Office, Apartment Sales

Marcus & Millichap, Calabasas, Calif., brokered shopping center and multifamily property sales totaling $58.8 million in Florida and Washington, D.C.

People in the News

Bellwether Enterprise Hires Tarter to Head Workforce Housing and Social Impact

Bellwether Enterprise Real Estate Capital LLC, Cleveland, created a Workforce Housing and Social Impact team and hired four new staffers in Dallas. Anthony Tarter will head the team, joined by Assistant Vice President Drew Oden.

News and Trends

MBA Offices Closed July 4 and 5

MBA offices will be closed on July 4 and 5 in observance of the Independence Day holiday. MBA NewsLink issue will publish as usual on Friday, July 5.

CRE Price Growth Speeds Up; Industrial Leads Again

U.S. commercial real estate prices rose in May at their fastest annual rate this year, propelled by a jump in industrial property prices, reported Real Capital Analytics, New York.

Fastest-Growing Metros Losing Affordable Housing at Rapid Rate

The fastest-growing cities in the United States saw substantial declines in affordable housing units between 2010 and 2017, said Freddie Mac, McLean, Va.

Office Investment Back on Track After Challenging Early 2019

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

Commercial/Multifamily Briefs

Civic Financial Services, Redondo Beach, Calif., launched a new rental program designed for real estate investors focused on aggregating rental properties. The program includes 5/1, 7/1 and 10/1 interest-only ARM products for either a single asset or a portfolio of properties.

MBA News

CREF Market Intelligence Symposium in New York July 10-11

The Mortgage Bankers Association CREF Market Intelligence Symposium cuts through the clutter to provide hard facts about the state of commercial real estate markets--what we do and don't know.

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.

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

MBA Commercial/Multifamily NewsLink, a weekly electronic publication, is a member benefit free to employees of MBA member companies, and available by paid subscription to non-members. For membership information, click here.

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