National Mortgage Professional, Nov. 19, 2018–Phil HallOrigination volume for commercial and multifamily properties took a drop in the third quarter, according to new data from the Mortgage Bankers Association.
Category: Top National News
Former Urban Big-Boxes, Class B Office Buildings Are Being Converted to Last Mile Industrial Space
National Real Estate Investor, Nov. 28, 2018–Patricia Kirk Investors are redeveloping empty retail big box stores and Class B office buildings in urban locations into “last mile” industrial facilities.
Prudential Making a Big Bet on Lower-Income Housing
Wall Street Journal, Nov. 27, 2018–Peter Grant (subscription)A venture led by Prudential Financial Inc. is spending nearly $600 million for 4,000 housing units aimed at lower-income workers, the latest sign that investors see bigger gains in lower-rent apartments than in the upscale ones that have led the recovery.
Multifamily Lending on Track to Break Records Again in 2018
HousingWire, Nov. 8, 2018–Ben LaneMBA released a brief updated forecast this week, which states that multifamily lending is on track to set another record in 2018.
Amazon Breathes Life into HQ2 Housing Markets
HousingWire, Nov. 13, 2018–Alcynna LloydOn Tuesday, Amazon finally announced it selected Long Island City, N.Y., and Crystal City in Arlington County, Va., as the split locations for its HQ2, and data suggests that the real estate markets in these areas saw a surge of interest when speculation of their selection first arose last week.
Sam Zell Is Selling More Than Property After Real Estate Warning
Bloomberg, Nov. 14, 2018–Simone FoxmanSam Zell is increasingly looking for the exits outside of his real estate empire. The billionaire’s Equity Group Investments has sold or plans to sell stakes in at least four companies since October 2017.
Analysts: The Multifamily Sector is Hitting its Peak
Scotsman Guide News, Nov. 12, 2018–Victor Whitman (MBA mention)Multifamily has been the star of the commercial property sector for much of the post-recession recovery, but 2018 and 2019 could be the peak years for originators, analysts told Scotsman Guide News.
Firm Advising GSE Investors Updates Plan to End Conservatorships
American Banker, Nov. 9, 2018–Hannah Lang (subscription)The revised blueprint by Moelis & Co. LLC, which serves as a financial adviser to some Fannie and Freddie shareholders, incorporates a plan by the mortgage companies’ regulator for them to adopt risk-based capital requirements. The original Moelis plan released in June 2017 had drawn mixed reviews from the industry.
LaSalle to Enter U.S. Debt Market by Acquiring $1.2 Billion Firm
Bloomberg, Nov. 1, 2018–Gillian TanJones Lang LaSalle subsidiary LaSalle Investment Management is betting big on commercial real estate debt. LaSalle is acquiring a majority stake in Latitude Management Real Estate Investors, which manages $1.2 billion across credit funds. Latitude provides short-term, or bridge, loans to borrowers focused on commercial property in regions of the U.S. deemed to be growing.
New Toys ‘R’ Us Owners Mull Physical Stores
Crain’s Chicago Business, Nov. 2, 2018The hedge funds that now own the Toys “R” Us brand plan to relaunch the toy retailer as a standalone operation next year. They will look to raise capital to help revive the chain, which closed its last stores at the end of June, and are making plans that include brick-and-mortar locations.