Wall Street Journal, Nov. 5, 2018–Sarah Nassauer (subscription)Lowe’s Cos. Inc. said it would close nearly 50 stores as a new CEO seeks to boost sales by shedding less-profitable locations and focus spending elsewhere.
Category: Top National News
Multifamily Lending in U.S. Hit New High of $285 Billion in 2017
World Property Journal, Nov. 1, 2018–Monsef RachidAccording to the Mortgage Bankers Association’s annual report on the U.S. multifamily lending market, strong market conditions helped fuel a 6 percent increase in multifamily lending in 2017, as lenders provided a record high $285 billion in new mortgages for apartment buildings with five or more units.
Siding with Landlords and Lenders, Voters Reject Expanded Rent Control
National Mortgage News, Nov. 7, 2018–Elina Tarkazikis (free article)California voters rejected Proposition 10, which would have reduced state restrictions on municipal rent control laws that proponents said would create more affordable housing options for tenants, but was opposed by real estate and mortgage industry interests. “We recognized early on that this could have a very far-reaching impact on the multifamily industry and the housing industry, so we’re very pleased with the outcome of the election,” said Sharon Walker, associate vice president of multifamily at the Mortgage Bankers Association.
Identifying Lucrative Value-Add Multifamily Opportunities as the Cycle Lengthens
National Real Estate Investor, Oct. 31, 2018–Mark SharkanskyThe appetite for value-add multifamily investments remains strong-and in light of this increasing competition, many investors are struggling to identify and secure assets that present high-reward opportunities.
What Digital Transformation Means For The Commercial Real Estate Practitioner
Forbes, Oct. 25, 2018–Robert FinlayWhen it comes to the digital transformation of commercial real estate, the future is now. Digital technologies and advanced analytics are helping businesses across industries learn and achieve more.
Apartment Construction Begins to Slow Down
National Real Estate Investor, Oct. 30, 2018–Bendix AndersonApartment building developers may finally take a breather in their rush to build new units.
Multifamily Deals Are Getting Harder to Pencil
GlobeSt.com, Oct. 21,2018–Kelsi Maree BorlandThe multifamily market is challenging today, but there are still reasons to be excited about it, including growing demand and Class B and secondary market rent growth.
New MBA Council Focuses on Commercial Real Estate
National Mortgage Professional, Oct. 23, 2018–Phil HallThe new body, which will replace the MBA’s Investor Council, is designed to formulate ideas about investment in commercial real estate debt. It will also present information on market trends and develop best practices and industry standards. Council members will include professionals from life insurance companies, banks, securitized lenders, debt funds and government-backed capital sources.
Proposition 10, Which Would Expand Rent Control, is ‘in Deep Trouble,’ Poll Shows
Los Angeles Times, Oct. 19, 2018–Liam DillonRobert Shrum, co-director of USC’s Center for the Political Future and a longtime Democratic strategist, said the numbers don’t look good for the initiative. The election is less than three weeks away, and landlord-backed opponents of the measure are significantly outspending supporters.
Alarm Bells for CRE Lenders after Bank OZK’s Bad Quarter
National Mortgage News, Oct. 19, 2018–John Reosti (subscription)Bank OZK in Little Rock, Ark., did more than stub its toe when it reported lower profit tied to two big chargeoffs. The $22 billion-asset company may have lost the confidence of investors for the foreseeable future, even though management used an earnings call to passionately defend its heavy reliance on commercial real estate lending, where the chargeoffs took place.