The Real Deal, Oct. 30, 2015–Bockman, Rich
Cushman & Wakefield went through a round of layoffs that hit the marketing and research departments in what appears to be fallout from the merger with Chicago-based DTZ earlier this year.
Category: Top National News
Wharf Street Acquires Majority Stake in Kroll Bond Rating Agency
HousingWire, Nov. 3, 2015–Lane, Ben
Kroll Bond Rating Agency now has a new majority owner, as the credit ratings agency announced Tuesday that one of its minority investors, private-equity firm Wharf Street, acquired a majority stake in the firm.
U.S. Construction Spending Rises 0.6 Percent in September to Highest Level in 7-1/2 Years
U.S. News & World Report, Nov. 2, 2015–Wiseman, Paul (Associated Press)
U.S. construction spending rose 0.6 percent in September to the highest level since March 2008, pushed up by a surge in apartment building.
CMBS Default Rate Declines in Third Quarter: Fitch Ratings
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.
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.