Bloomberg, Feb. 17, 2023–Victoria CavaliereThe Federal Reserve won’t be able to get US inflation down to its 2% target without “crushing the economy,” economist Mohamed El-Erian warned on Friday, but …
Category: Top National News
Nearly 30 Percent of Work Remains Remote as Workers Dig In
The Hill, Feb. 20, 2023–Daniel De ViseNearly 30 percent of all work happened at home in January, six times the rate in 2019, according to WFH Research, a data-collection project. …
Brookfield Defaults on Two Los Angeles Office Towers
Bloomberg, Feb. 14, 2023–John GittelsohnBrookfield Corp., parent of the largest office landlord in downtown Los Angeles, is defaulting on loans tied to two buildings rather than refinancing the debt as …
MBA CREF23: Cautious Optimism in the Face of Headwinds
Trepp, Feb. 17, 2023–Vivek DenkanikotteAgainst a backdrop of headwinds in commercial real estate finance including dropping property values, fewer originations, and maturing loans amid rising interest rates, MBA CREF23 conference …
Office Landlord Defaults Are Escalating as Lenders Brace for More Distress
Wall Street Journal, Feb. 21, 2023–Peter Grant (subscription)The delinquency rate for office loans that back commercial-mortgage-backed securities remains low, but it is heading higherhttps://www.wsj.com/articles/office-landlord-defaults-are-escalating-as-lenders-brace-for-more-distress-894938c0
U.S. Retail Sales Roar Back; Manufacturing Shows Improvement
Reuters, Feb. 15, 2023–Lucia MutikaniU.S. retail sales increased by the most in nearly two years in January after two straight monthly declines as Americans boosted purchases of motor vehicles and …
Starwood Single-Family Rental Firm Stung by Housing Market Slump
Bloomberg, Feb. 15, 2023–Patrick ClarkWall Street-backed landlords have cut jobs and slowed purchases with high borrowing costs weighing on the housing market.https://www.bloomberg.com/news/articles/2023-02-15/starwood-single-family-rental-firm-stung-by-housing-market-slump?srnd=premium
By Adding Apartments, Malls Seek To Bring Shopping Closer to Home
New York Times, Feb. 16, 2023 (subscription)Facing an existential crisis over empty space, owners are trying to fill malls with residences, building on the live-work-play model sought by young adults.https://www.nytimes.com/2023/02/16/business/shopping-malls-residences.html
Brookfield Defaults on Two Los Angeles Office Towers
Bloomberg, Feb. 14, 2023–John GittelsohnBrookfield Corp., parent of the largest office landlord in downtown Los Angeles, is defaulting on loans tied to two buildings rather than refinancing the debt as …
MBA CREF 2023: CRE Loans Benefiting From Prior Value Spike Amid Headwinds
Commercial Observer, Feb. 14, 2023–Andrew CoenA previous sharp rise in commercial real estate values that predated headwinds spurred by the COVID-19 pandemic and rising interest rates provides cushion for some …