MBA NewsLink Staff
CBRE Acquires Florida Valuation Group
CBRE, Los Angeles, acquired Florida Valuation Group, a commercial real estate appraisal firm that specializes in right-of-way appraisal and litigation support related to eminent domain proceedings in the Southeast.
Florida Valuation Group's three principals, Nick Chop, Courtland Eyrick and Justin Markley and their appraisal team will join CBRE.
Chop has more than 25 years of real estate appraisal and consulting experience and a background in providing valuations, reviews and market studies for both condemning authorities and other clients. Eyrick has 18 years of experience in preparing appraisals for litigation support, financial institutions, state agencies and individuals with a specialization in eminent domain valuation. With more than 11 years of experience, Markley has provided appraisals, real estate consulting, market analysis and litigation support that spans all commercial real estate types.
Chop, Eyrick and Markley each join CBRE as Directors and will will remain headquartered in Jacksonville, Fla.
Fannie Mae Loan Publishes Report on Multifamily Green Bond Impact
Fannie Mae, Washington, D.C., published a Multifamily Green Bond Impact report providing metrics on the projected financial, social and environmental benefits from Fannie Mae Green Bonds for U.S. housing.
From 2012 through 2018, Fannie Mae issued $51.7 billion in green mortgage-backed securities and $6.1 billion in green structured securities, making it the largest green bond issuer in the world in 2017 and 2018.
The report offers projected impacts for the economy, tenants and the environment. It estimates newly constructed or retrofitted green multifamily buildings contributed $7.2 billion in workers' income and $14.6 billion to gross domestic product and supported 170,000 jobs. It projected owners who made their properties more efficient will recover their investment within six years on average while tenants at these properties are projected to see annual utility expenses cut by 10 percent or $145 on average.
Properties should reduce water use by 5.9 billion gallons--equivalent to the amount of water consumed annually by nearly 54,000 American families--as a result of Fannie Mae Green Bonds, the report said.
Freddie Mac Prices $1.2 Billion Multifamily K-Deal, K-088
Freddie Mac, McLean, Va., priced a new offering of Structured Pass-Through K Certificate multifamily mortgage-backed securities. The company said it expects to issue $1.2 billion in K Certificates (K-088 Certificates) that should settle on or about March 12.
Merrill Lynch, Pierce, Fenner & Smith and Credit Suisse Securities served as co-lead managers and joint bookrunners.