National Mortgage News, Nov. 2, 2015–Peters, Andy
Defaults on commercial mortgage-backed securities declined from the end of the third quarter, compared to the previous quarter, according to Fitch Ratings.
Category: Top National News
Wells Fargo Risks Being Odd Man Out Under New Rule
Wall Street Journal, Oct. 29, 2015–Tracy, Ryan; Glazer, Emily
New rules to be proposed by the Federal Reserve likely will force the San Francisco bank-more than some of its rivals-to make significant changes to its balance sheet, even though Wells Fargo has fared better than competitors in earlier tests on safety and soundness.
Major Civil Rights Groups Join Push to Recapitalize Fannie Mae, Freddie Mac
Housing Wire, Oct. 29, 2015–Lane, Ben
Several of the largest civil rights groups in the country are joining together to call on the federal government to end the conservatorship of Fannie Mae and Freddie Mac and recapitalize the agencies, stating that an independent and fully capitalized Fannie Mae and Freddie Mac can better serve the country’s housing needs.
Wells Fargo Heading $2.5B Stuy Town Acquisition Financing
Commercial Observer, Oct. 27, 2015–Balbi, Danielle Wells Fargo is taking the lead on roughly $2.5 billion in debt financing to Blackstone Group and Ivanhoe Cambridge for their joint purchase of Stuyvesant Town-Peter Cooper Village, two people familiar with the deal told Commercial Observer.
Chinese Firms Vie to Buy Starwood Hotels
Wall Street Journal, Oct. 28, 2015–Wei, Lingling; Karmin, Craig
At least three big Chinese companies are competing to win Beijing’s approval to bid for Starwood Hotels & Resorts Worldwide Inc., according to people with knowledge of the discussions, setting the stage for what could be the largest-ever Chinese takeover of a U.S. company.
Sam Zell Edges Out of Apartments
Wall Street Journal, Oct. 26, 2015–Kusisto, Laura
Sam Zell has agreed to sell more than 23,000 apartments controlled by his real-estate company, Equity Residential, for $5.4 billion to Starwood Capital Group, the companies said.
Multifamily Lending in U.S. Jumped 13 Percent in 2014
World Property Journal, Oct. 23, 2015
According to the Mortgage Bankers Association 2014 Report on Multifamily Lending, 2,876 different multifamily lenders that provided $195.1 billion in new mortgages for apartment buildings with five or more units.
Brookfield Makes Big Bet on Brooklyn
Wall Street Journal, Oct. 27, 2015–Kusisto, Laura
Brookfield Property Partners is making its first venture into Brooklyn, buying a majority stake in two planned apartment towers on the New York City borough’s waterfront, the company said.
Four Ways the Tech Boom Has Changed NYC’s Real Estate Landscape
Huffington Post, Oct. 21, 2015–Susman, AronWhether you see the rapid growth of tech startups as a boom or a bubble, tech activity is higher than it’s been since 2000 and has impacted the economies and landscapes of cities around the world. Here are four ways that tech companies are affecting NYC’s real estate landscape.
Who the Heck Works in This L Street Office? Big Brother?
Washington Post, Oct. 28, 2015–Kelly, John The CoStar Group’s Field Operations Center directs 140 field researchers that spread out across North America noting every aspect of the real estate they encounter: the type of building, the size, the shape, whether there’s a “For Lease” sign in a window.