Wall Street Journal, Mar. 18, 2016–Hufford, Austen MGM Resorts International and Dubai World’s Infinity World Development Corp. will sell a Las Vegas luxury shopping center to mall operator Simon Property Group Inc. and Invesco Ltd. for about $1.1 billion, the latest payoff on a bet to remake the Las Vegas Strip.
Category: Top National News
BlackRock’s Rieder Sees Opportunity in Commercial Mortgage Debt
Bloomberg, Mar. 18, 2016–Willmer, Sabrina
Rick Rieder, chief investment officer of global fixed income at BlackRock Inc., said some securitized debt, including commercial mortgages, is among the most attractive opportunities in an environment of moderating growth.
Macy’s Names REIT Expert to Board Amid Pressure to Spin Off Real Estate
Wall Street Journal, Mar. 22, 2016–Jamerson, Joshua
Macy’s Inc. said Tuesday that it has tapped William Lenehan, an expert in real-estate investment trusts, to become a board member as the company continues to face pressure to spin off its real estate despite ruling out the move last year.
MGM Real Estate Subsidiary Files for Initial Public Offering
VEGAS Inc., Mar. 22, 2016–Morris, J.D.
MGM Resorts International’s new real estate subsidiary, which will own 10 of the company’s properties, filed a registration statement for an initial public offering.
Fannie Mae and Freddie Mac: If You Can’t Kill Them, Merge Them?
Wall Street Journal, Mar. 23, 2016–Light, Joe
A group including some of the chief architects of the Obama administration’s housing policy released a paper Wednesday outlining a new proposal for how to deal with mortgage-finance giants Fannie Mae and Freddie Mac.
CMBS Loans Go Ice Cold as Bond-Market Turbulence Heats Up
Scotsman Guide, Mar. 15, 2016–Whitman, Victor
CMBS loans aren’t competitive right now against other commercial loan types because of turbulence in the bond markets, analysts say. “Since the beginning of the year, an awful lot of analysts have cut their projections for 2016 by 25 percent to 30 percent or more,” said Jamie Woodwell, MBA’s vice president of research.
Multifamily Mortgage Debt Grew at a Strong Pace in 2015 According the Mortgage Bankers Association
MultifamilyBiz.com, Mar. 15, 2016
Commercial/multifamily mortgage debt outstanding increased to $2.83 trillion in the fourth quarter, an increase of $59.7 billion, or 2.2 percent, over the third quarter, according to data collected by the Mortgage Bankers Association.
U.S. Multifamily Mortgage Grew at Fastest Pace Since 1993
Reuters, Mar. 14, 2016
The amount of outstanding U.S. mortgages for multifamily homes rose to $1.06 trillion in 2015, up 10.4 percent from a year earlier, which was its fastest annual pace since 1993, the Mortgage Bankers Association reported Monday.
Study: Imbalance Between Renter Population and Affordable Units
National Mortgage Professional, Mar. 14, 2016–Hall, Phil
The renter population is growing in the 11 largest metropolitan areas, but affordable housing options in these markets are shrinking, according to the newly-released NYU Furman Center/Capital One National Affordable Rental Housing Landscape report.
Fed Faces Challenge As It Considers More Rate Hikes
USA Today, Mar. 14, 2016–Davidson, Paul
With financial markets on a roller coaster in 2016, this week’s Federal Reserve meeting should reveal whether policymakers will be guided by February’s gut-wrenching valley, the recent peak or the uncertainty of the ride.