Bloomberg, Jan. 5, 2021–John GittelsohnOffice vacancies in Manhattan jumped to a 21st century record as the Covid-19 pandemic froze new rental deals and sublease openings soared. Last year ended with …
Category: Top National News
Fortnite Creator Is Buying a Dying Mall to Develop New Headquarters
Wall Street Journal, Jan. 5, 2021–Esther Fung (subscription)The company that created the popular videogame “Fortnite” has agreed to purchase a North Carolina mall and plans to redevelop it as a …
The Nail in the Coffin for Ending GSE Conservatorship Under Trump?
HousingWire, Dec. 15, 2020–Kelsey RamírezIn a letter Monday to U.S. Treasury Secretary Steven Mnuchin, the Mortgage Bankers Association and other housing industry associations expressed their opposition to a swift end …
New Study Aims to Crack Cap Rate Code
Commercial Property Executive, Dec. 14, 2020–Paul FiorillaForecasting the direction of property yields has long been the Holy Grail of commercial real estate research—although many have tried, finding a solution has …
Fannie, Freddie Privatization Likely to be Left to Biden Administration
Wall Street Journal, Dec. 15, 2020–Andrew Ackerman (subscription)Joe Biden’s election victory has likely ended the Trump administration’s efforts to return Fannie Mae and Freddie Mac to private hands. Treasury Secretary …
Commercial Mortgage Delinquencies are Rising
GlobeSt.com, Dec. 14, 2020–Les ShaverIn November, 5.7% of commercial mortgages were delinquent, increasing from 5.4% in October, according to the Mortgage Bankers Association. The delinquencies can be traced back to …
CMBS 3Q Delinquency Rates Decline From Record Levels
National Mortgage News, Dec. 11, 2020–Brad Finkelstein (subscription)But late payments for all other investor types rose compared with the second quarter.m record-high level. Commercial mortgage-backed securities lenders were the only …
U.S. Renters Could Owe $70 Billion
Bloomberg, Dec. 10, 2020–Kriston CappsBetween past due rent, late fees and unpaid utility bills, Americans may collectively owe $70 billion by January, when the current federal eviction moratorium is set …
More Borrowers Fell Behind on Commercial Mortgages in November
Bloomberg, Dec. 10, 2020–John GittelsohnThere was an increase in borrowers who fell behind on commercial mortgage payments in November.The delinquency rate on all commercial mortgages climbed to 5.7% in November …
Vaccine Approval Could Mark a Turning Point in CRE Price Discovery
National Real Estate Investor, Dec 15, 2020–Beth Mattson-TeigInvestors hoping to cash in on a COVID-19 pricing discounts may see opportunities slip away as emergency-use approval of the first vaccine against …