MBA NewsLink Staff
SLK Global Announces Customized Tax Services for Commercial Mortgage Servicers
Business process transformation firm SLK Global Solutions will offer customized tax services for commercial mortgage servicers through its Real Estate Tax Service Platform.
SLK Global's RETS combines technology, national coverage and industry experience to help lenders with accurate, fast and compliant tax data. Tax services can be customized based on the size and individual needs of the servicing portfolio.
RETS is currently being used by two of the top five commercial/multifamily servicers.
SLK Global Solutions is exhibiting at booth No. 18 at the MBA Commercial/Multifamily Servicing & Technology Conference.
Dodge Momentum Index Dips in April
The Dodge Momentum Index fell 0.5 percent in April to 144.3 (2000=100) from March's revised 145.1 reading.
The Momentum Index from Dodge Data & Analytics measures the first report for nonresidential building projects in planning, which generally leads construction spending for nonresidential buildings by one year.
"The Momentum Index has clearly lost some impetus over the last twelve months," Dodge said, noting the index's commercial real estate component is down 4.7 percent since April 2018. "However, over the past several months the Momentum Index has moved in a crab-like fashion with neither strong gains or losses. This suggests that there continues to be a reasonably healthy number of projects in the planning pipeline to support a moderate level of construction activity in the coming months."
Griffin Capital Essential Asset REIT, Griffin Capital Essential Asset REIT II Complete Merger
Griffin Capital Essential Asset REIT II, El Segundo, Calif., completed its merger with Griffin Capital Essential Asset REIT. The merger created a $4.7 billion self-managed real estate investment trust operating as GCEAR II.
Griffin Capital Essential Asset REIT II owns single-tenant net-lease assets throughout the United States, diversified by corporate credit, physical geography, product type and lease duration. As of April 30, the REIT II owned 101 properties in 25 states totaling 27.2 million in rentable square feet, representing a total REIT capitalization of $4.7 billion.
Robert A. Stanger & Co. and Bank of America Merrill Lynch acted as financial advisors to GCEAR; SunTrust Robinson Humphrey acted as financial advisor to GCEAR II's special committee of the board of directors. Nelson Mullins Riley & Scarborough LLP provided legal counsel to GCEAR and Venable LLP provided legal counsel to GCEAR's special committee of the board of directors. Morris, Manning & Martin LLP provided legal counsel to GCEAR II's special committee of the board of directors.