National Mortgage News, Sept. 25, 2020–Hannah Lang (subscription)The Financial Stability Oversight Council said the mortgage giants may need a bigger capital cushion than their regulator has proposed, but stopped short …
Category: Top National News
Debt Funds Like Blackstone’s Begin to Play a Bigger Role in CRE Lending as CMBS Steps Back
National Real Estate Investor, Sept. 25, 2020–John EganIn the commercial real estate lending arena, many debt funds and smaller banks are stepping up during the coronavirus pandemic, while many CMBS …
Distressed U.S. Commercial Real Estate Lost 27 Pct Of Value, Wells Fargo Figures Show
PYMNTS.com, Sept. 28, 2020Many U.S. commercial properties have lost 25 percent or more of their value as the impact of the coronavirus has taken its toll on hotels, malls and …
CRE Concerns Intensify as Stimulus Programs Expire
American Banker, Sept. 23, 2020–Jim Dobbs (subscription)Commercial real estate loans are vulnerable as financial assistance for tenants winds down and might not be fully renewed. Late rent payments could rise, …
Grand Chicago Hotel in Foreclosure, a Symbol of Covid-19’s Toll on Hospitality Industry
Wall Street Journal, Sept. 22, 2020–Peter Grant (subscription)Thor Equities, owner of the Palmer House Hilton, is in default on its $333.2 million first mortgage, court papers say.https://www.wsj.com/articles/grand-chicago-hotel-in-foreclosure-making-it-one-of-covid-19s-biggest-victims-11600767000?mod=hp_lead_pos11
Brookfield Properties to Cut 20% of Employees in Retail Unit
Bloomberg, Sept. 22, 2020–Natalie WongBrookfield Property Partners LP, a large owner of malls in the U.S., is cutting its workforce as the pandemic batters the retail industry. The job cuts …
Millions Are House-Rich but Cash-Poor. Wall Street Landlords Are Ready.
Wall Street Journal, Sept. 18, 2020–Ryan Dezember (subscription)Hardships caused by the coronavirus pandemic are likely to force a lot of sales and create new renters. (MBA mention)https://www.wsj.com/articles/millions-are-house-rich-but-cash-poor-wall-street-landlords-are-ready-11600421401?
Nearly 11 Million Households Missed Mortgage or Rent Payments at Pandemic’s Outset–Study
Mortgage Professional America, Sept. 18, 2020–Ryan SmithNearly 11 million households fell behind on their mortgage or rent payments during the first three months of the COVID-19 pandemic, according to a …
Wave of Foreclosures Seen Hitting Commercial Real Estate
Houston Chronicle, Sept. 17, 2020 The pandemic has hit commercial properties hard – especially restaurants, retailers and hotels, which are having a hard time making mortgage payments because of reduced …
Mall of America Is Facing a Complicated Debt Situation. But It Might Be Too Big to Fail.
National Real Estate Investor, Sept. 16, 2020–Liz Wolf The mall’s owners entered into an agreement with lenders to avoid foreclosure. Now what? https://www.nreionline.com/retail/mall-america-facing-complicated-debt-situation-it-might-be-too-big-fail?