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Volume 17 | Issue 23 | Thursday, June 06, 2019

The Lede


MBA Survey on LIBOR Transition Finds Mix of Preparation, Uncertainty Among Commercial/Multifamily Real Estate Firms

Commercial and multifamily real estate finance firms are preparing for the transition away from the London Interbank Offered Rate, but there is little uniformity when it comes to the details, according to a new survey by the Mortgage Bankers Association's LIBOR Outreach Committee.


Top National News

Not All Lenders are Equally Prepared for LIBOR Change

Mortgage Professional America, June 5, 2019--Steve Randall
There is a fair amount of uncertainty about the mechanics of the transition away from LIBOR and an overall hesitation as many firms wait for others to lead the way, the Mortgage Bankers Association said.

2019 Rising Star: ​​​​​​​Amber Lawrence

HousingWire, June 3, 2019
Amber Lawrence is associate director of education operations and programming at the Mortgage Bankers Association. As a core member of the organization's education leadership team, Lawrence manages its professional certification and designation programs. Working alongside the CMB Leadership Society, Lawrence currently oversees the curriculum of more than 730 active CMBs.

Regional Banks Grow Their CRE Footprints

Multi-Housing News, May 30, 2019--Jeffrey Steele
According to the Mortgage Bankers Association, commercial and multifamily mortgage bankers closed a record $574 billion of mortgages in 2018. Of that total, commercial bank and savings institutions made up the largest investor group, responsible for $174 billion.

Blackstone Starts Selling Out of Home-Rental Empire

Wall Street Journal, May 29, 2019--Ryan Dezember (subscription)
The private-equity firm late Tuesday sold more than $1 billion of shares of Invitation Homes Inc., the giant single-family home landlord it launched following the financial crisis in a wager that many Americans would be willing to rent the suburban lifestyle they could no longer afford to own.

Four Ways The Trade Wars Are Undermining Commercial Real Estate

Forbes, June 4, 2019--Jeff Levin
Here are four ways the trade wars have affected commercial real estate markets across the country and how the industry can address them.

The Mall Meltdown Continues

Wall Street Journal, June 3, 2019--Elizabeth Winkler (subscription)
Mall-based retailers reported dismal earnings last week, reminding investors of the sector's fundamental problems.

CMBS Delinquency Rate Continues to Plunge

National Mortgage Professional, June 5, 2019--Phil Hall
The commercial mortgage-backed securities delinquency rate published by Trepp LLC hit another post-financial cross low in May, falling 16 basis points to 2.66 percent.

Dealmaker of the Week

NYL Real Estate Investors Lends $85M for Multifamily

New York Life Real Estate Investors originated $84.9 million on behalf of New York Life Insurance Co. for two Texas multifamily assets.

People in the News

Greystone Expands Houston Presence

Greystone, New York, expanded its Houston-area team with Ed Gray as a Managing Director and Brooks Steele as a Director.

News and Trends

MBA, Trade Groups Renew Push for Flood Insurance Program Extension

With the National Flood Insurance Program slated to expire yet again, the Mortgage Bankers Association and other industry trade groups pressed Congress to move forward with legislation approving an extension through September.

Gradual Slowdown Seen in Hotel Performance

The hotel sector faces declining occupancy in both 2020 and 2021 as supply increases faster than demand, predicted CBRE Hotels, Atlanta.

Industrial Assets Lead CRE Price Growth

U.S. commercial real estate prices rose 0.8 percent in April, led by industrial property price growth, reported Real Capital Analytics, New York.

Investor Sentiment Slipping

Commercial real estate investors appear to be growing more conservative as the real estate cycle lengthens.

Report Sees Robust Office Sector Absorption

Despite steadily growing new office supply, robust absorption held the sector's vacancy rate steady at 13.7 percent in April, said Yardi Matrix, Santa Barbara, Calif.

Commercial/Multifamily Briefs

LGIS Group, Atlanta, launched commercial property loan insurance for commercial real estate, similar to private mortgage insurance in residential mortgage lending.

MBA News

Apply Now for MBA Education Commercial/Multifamily Future Leaders Program

The MBA Education Future Leaders Program is an executive leadership development program that delivers a comprehensive curriculum for selected managers who have shown leadership interests and abilities.

MBA Education Opportunity Zone Webinar June 19: A Guide to Evolving Program Rules

The Treasury Department recently issued Qualified Opportunity Zone program regulations. Join MBA Education and members of Ballard Spahr's Qualified Opportunity Zone team to dive into how this new set of regulations will affect investments in real estate and operating businesses located in QOZs.

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.

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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