Category: Top National News

Wall Street Journal, July 16, 2019–Konrad Putzier, Esther Fung (subscription)High-rise developers in Manhattan are coming under stress as tough market conditions are starting to undermine some of the city’s most prominent luxury condo projects.

National Mortgage Professional, July 15, 2019–Phil HallThe SEC called on market participants to “proactively manage their transition” away from the London Interbank Offered Rate, which is set to expire in 2021. In June, the Mortgage Bankers Association’s LIBOR Outreach Committee found 92 percent of commercial and multifamily mortgage lenders it polled have already begun planning for the transition away from LIBOR.

Colorado Real Estate Journal, July 13, 2019–Cooper WilliamsAccording to research conducted by the Mortgage Bankers Association, the insurance companies’ mortgage debt holdings increased by 9% in 2018, which is higher than the overall market average for multifamily debt holdings.

MarketWatch, July 17, 2019–Greg RobbBusiness contacts were generally positive through early July about the economic outlook for the coming months despite “widespread concerns about the possible negative impact of trade-related uncertainty,” according to the “Beige Book” survey released by the Federal Reserve on Wednesday.

Wall Street Journal, July 8, 2019–Ryan Dezember (subscription)A California startup is hoping investors will buy portions of houses as well. Roofstock, which operates a website where investors buy and sell occupied rental properties without disturbing tenants, has launched a marketplace where investors can buy stakes as low as 10 percent in single-family rental homes.

Wall Street Journal, July 8, 2019–Josh Barbanel, Will Parker (subscription)A longtime New York City practice that promoted homeownership, transformed neighborhoods and enriched thousands of middle-class renters is effectively over. It ended on June 14, when a New York state law to strengthen tenant protections went into effect.

National Real Estate Investor, July 9, 2019–Sebastion ObandoForeign investors reduced buying activity in the U.S. hotel sector so far this year, according to industry experts.

National Mortgage Professional, June 5, 2019–Phil HallThe commercial mortgage-backed securities delinquency rate published by Trepp LLC hit another post-financial cross low in May, falling 16 basis points to 2.66 percent.

National Real Estate Investor, June 28, 2019–Patricia KirkLandlords with older office buildings struggling with low occupancy may want to consider converting them to uses with higher demand for the location, including housing, hotels, schools, retail, start-up incubators or industrial facilities.

National Mortgage Professional, June 28, 2019–Phil HallThe combined business will operate as SitusAMC and have more than $175 billion of commercial assets under management and provide fair value assessment on more than $290 billion of commercial real estate assets quarterly.