National Mortgage News, Sept. 14, 2017–Elina Tarkazikis (subscription)Damage from Hurricane Irma could affect some $26.6 billion in commercial mortgage-backed securities, according to Morningstar Credit Ratings.
Category: Top National News
Manhattan’s Eager Renters Can’t Make a Dent in Apartment Supply
Bloomberg, Sept. 14, 2017–Oshrat CarmielRenters signed 7,061 new leases in August, the most for any month in data going back to January 2008, according to a report Thursday by appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate. Despite all those deals, vacancies climbed to 2.27 percent from 2.14 percent a year earlier, the first annual increase since February.
Unusually Large Loans Mask Decline In NYC Commercial Real Estate Lending
Forbes, Sept. 20, 2017–Ely Razin Second quarter commercial real estate loan originations in New York City weren’t just big, they were really, really big. The size of those loans appears to be masking what would otherwise look like a decline in New York loan origination for the quarter.
Why Pricing Terrorism Risk Remains a Challenge for CRE Insurers
National Mortgage News, Sept. 11, 2017–Elina Tarkazikis (subscription)The Terrorism Risk Insurance Act was created after 9/11 to serve as a crucial federal backstop for commercial real estate insurers, but an analysis of alternatives to fund the program reveals the continued challenges of measuring and predicting terror risk.
In Harvey’s Wake, Houston Rethinks Real Estate Development
Wall Street Journal, Sept. 11, 2017–Douglas Belkin, Shibani Mahtani (subscription)Now, after Hurricane Harvey killed at least 50 people and caused roughly $180 billion in damage, a battle is shaping up over how best to oversee real-estate development in Houston.
London Retains Its Crown as World’s Top Financial Center
Bloomberg, Sept. 11, 2017–Gavin FinchLondon retained its crown as the world’s top financial center in a ranking that surveys industry professionals, extending its lead over New York and Hong Kong despite ongoing uncertainty about the implications of Brexit.
Demand for Student Housing Shows Signs of Slowing Down
National Real Estate Investor, Sept. 11, 2017–Bendix Anderson This summer–for the first time in several years–student housings beds were not leasing as quickly as the year before.
Couple Launches Video to Raise Awareness of Prostate Cancer
Smith Mountain Laker (Va.), Sept. 12, 2017–Karen DillonMBA President and CEO David Stevens talked about his diagnosis, the importance of cancer research and a YouTube video he and Mary recorded and released for National Prostate Cancer Awareness Month.
One Beneficiary From Hurricane Harvey: Self-Storage Landlords
Wall Street Journal, Sept. 12, 2017–Esther Fung (subscription)Storage operators, which typically rent units ranging from 5 feet by 5 feet to as large as 10 feet by 25 feet, often report stronger demand following a natural disaster as residents look for a place to keep their belongings while they focus on rebuilding their property.
New York City Property Market Turns Cautious: Broker Survey
Reuters, Sept. 12, 2017–Herbert LashProspects for New York City’s property market remain strong yet greater caution can be seen as buyers turn more hesitant and sellers seek unrealistic prices, a trade association’s second-quarter survey of broker sentiment showed on Tuesday.