Commercial Multifamily Research Market Intelligence Blog

September 10, 2019
By Jamie Woodwell; Reggie Booker
MBA CREF Forecast Scenarios

Given the current economic uncertainty, it's fair to assume that different paths for the US economy could lead to very different outcomes for commercial and multifamily mortgage demand and supply.

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Topics:
Forecast
Originations
September 9, 2019
By Jamie Woodwell; Reggie Booker
MBA CREF Forecast

The low interest rate environment, coupled with still strong demand for commercial and multifamily assets, has pushed property values higher and increased demand for mortgages. At the beginning of the year, many economists, investors and others anticipated long-terms rates would currently be in the 3 percent range and rising - potentially putting pressure on property values and decreasing demand for debt. Instead, the 10-year Treasury yield is at approximately 1.5 percent, and many market participants are planning for rates to remain ‘lower for longer.' The result is heightened demand and higher volumes.

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Topics:
Forecast
Originations
August 23, 2019
By Jamie Woodwell
Video

Jamie Woodwell, Vice President of Research and Economics at Mortgage Bankers Association (MBA), joined the RealCrowd Podcast to discuss what an inverted yield curve means for real estate

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Topics:
Podcast
Woodwell
August 23, 2019
By Jamie Woodwell; Reggie Booker
Commercial Property Capitalization Rates

Commercial real estate values are a function of a property's income and the capitalization (cap) rate. Essentially the inverse of a price-to-earnings ratio, cap rates are a gauge of the yield investors demand to put their money into commercial real estate - with a lower cap rate demonstrating higher investor interest in each dollar of current income.

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Topics:
Cap Rates
Industrial
July 23, 2019
By Jamie Woodwell; Reggie Booker
MBA's CREF Market Intelligence Symposium

On July 10 and 11, in association with NYU Schack Institute of Real Estate and sponsored by DBRS, MBA hosted its third annual CREF Market Intelligence Symposium. The Symposium has become an important forum for commercial and multifamily real estate finance leaders and analysts to come together, hear from leading researchers and discuss key risks (and opportunities) facing the industry.

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Topics:
CREF
Market Intelligence
June 30, 2019
By Reggie Booker; Jamie Woodwell
First Quarter Maintains Momentum

Commercial real estate and real estate finance markets maintained their momentum during the first quarter of 2019.

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Topics:
Data Book
June 21, 2019
By Jamie Woodwell
Housing Market Vacancy Rates

There has been a great deal of attention paid lately to the mismatch between the supply of, and demand for, housing in the United States. According to Census statistics, the U.S. added 1.5 million households during 2018 but built fewer than 1.2 million new housing units. The result is a tightening inventory - not just of homes for sale, but of homes available to occupy.

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Topics:
Housing
Vacancy
June 7, 2019
By Jamie Woodwell
Preparation for LIBOR Conversion in Commercial Real Estate Finance

The vast majority of commercial and multifamily mortgage lenders report they are working on the transition away from LIBOR, but the devil is in the details. The London Interbank Offered Rate (LIBOR) is a leading reference rate for adjustable-rate loans in the United States and around the world, and is targeted to sunset at the end of 2021.

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Topics:
LIBOR
Survey
May 24, 2019
By Jamie Woodwell and Reggie Booker
New Issue CMBS Spreads to Swaps

In a search for yield and a vote of confidence in the assets, investors have pulled commercial mortgage-backed securities (CMBS) credit spreads lower in recent years.

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Topics:
CMBS
Spreads
April 17, 2019
By Jamie Woodwell
Adjustable Rate Debt in Commercial Real Estate Finance

The London Interbank Offered Rate (LIBOR) is a leading reference rate for adjustable-rate loans in the United States and around the world, and is targeted to sunset at the end of 2021.

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Topics:
LIBOR
Mortgage Debt Outstanding
April 12, 2019
By Jamie Woodwell, Reggie Booker
Top Mortgage REIT, Debt Fund and Other Investor-Driven Lenders

Last year, Blackstone Mortgage Trust Inc. was the top investor-driven lender, followed by Deutsche Bank Securities Inc., Capital One Financial Corp., Wells Fargo, Apollo Global Management, LoanCore Capital, LLC, Mesa West Capital, LLC, KKR Real Estate Finance Trust Inc., TPG Real Estate Finance Trust, and PCCP LLC.

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Topics:
Mortgage REIT
Debt Fund
Investor Driven Lender
April 5, 2019
By Reggie Booker, Jamie Woodwell
Top 10 Commercial & Multifamily Mortgage Originators in 2018

MBA recently released its annual 2018 Rankings of Commercial/Multifamily Mortgage Firms' Origination Volumes and the following firms were the top commercial/multifamily mortgage originators: HFF; Wells Fargo; CBRE Capital Markets, Inc.; Key Bank; Eastdil Secured; JP Morgan Chase & Company; Meridian Capital Group; Bank of America Merrill Lynch; PNC Real Estate; and Berkadia.

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Topics:
Originations
Top 10
April 4, 2019
Video

Jamie Woodwell, Vice President of Research and Economics at Mortgage Bankers Association (MBA), joined the RealCrowd Podcast to discuss recent MBA research on how lenders view the current market.

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Topics:
Podcast
Woodwell
March 31, 2019
By Reggie Booker; Jamie Woodwell
CRE Mortgage Financing Ends 2018 Strong

2018 ended on a strong note for commercial mortgage borrowing and lending.

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Topics:
Data Book
March 22, 2019
By Michael Fratantoni, Jamie Woodwell
MBA Commercial/Multifamily Market Uncertainty Bingo

Prepayment of GSE and life company loans, and originations of debt fund and CMBS loans, balance out 2019 loan maturities.The wide range of topics facing the industry prompted us to develop this Bingo card - which we unveiled at the opening general session of MBA's CREF Convention - to help attendees navigate as they moved from issue to issue.

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Topics:
Bingo
CREF Convention