Bloomberg Intelligence, Oct. 20, 2015–Wright, Josh; Riccadonna, CarlHousing starts jumped more than expected while permits slumped in September, in both cases due to the more-volatile multifamily segments. A large decline in housing permits was also driven predominantly by the multifamily sector.
Category: Top National News
Commercial Real Estate Broker to Use Commission Splitting and Other Tactics From Residential Property Dealers
Realty News Today, Oct. 21, 2015Traditionally, commercial property brokers do not like to split the commissions they get. One Canadian commercial property agency will try to change that and apply commission splitting and other methods used in the residential property business.
Founder of Tenant Broker Studley Dies at 88
Chicago Real Estate Daily, Oct. 19, 2015Julien Studley, a pioneer in representing tenant interests in commercial real estate and the publisher of a groundbreaking report about New York property, has died, his former company said. He was 88.
Senators Warn on Fannie Mae and Freddie Mac Vulnerability
National Real Estate Investor, Oct 20, 2015–Anderson, BendixThe leading providers of capital for multifamily loans are still on shaky ground-years after the financial crisis ended.
Report: Denver Commercial Real Estate Market ‘In a Groove’
Denver Post, Oct. 16, 2015–Rusch, Emilie Nearly one million square feet of new office space came online during a strong third quarter for the Denver commercial real estate market, according to CBRE.
Joe Fallon Vows to ‘Aggressively’ Rebuild Capital Markets Team as New Cushman Chief in Boston
Boston Business Journal, Oct. 9, 2015–Carlock, Catherine Joe Fallon, formerly of DTZ, Cassidy Turley and FHO Partners, has been tapped by Cushman & Wakefield to lead its New England region. Fallon said rebuilding the capital markets team will be a priority.
GE to Sell Commercial Lending, Leasing Businesses to Wells Fargo
Wall Street Journal, Oct. 13, 2015–Mann, Ted; Glazer, Emily
General Electric Co. agreed to sell a major chunk of its U.S. commercial lending business to Wells Fargo & Co., a milestone in the company’s rapid exit from financial services that could allow it to shed a tough regulatory regime.
CMBS Delinquencies Fell from August to September: Fitch
Mortgage Servicing News, Oct. 13, 2015–Peters, Andy
The commercial mortgage-backed securities delinquency rate fell from August to September, according to Fitch Ratings.
Need to Store That? Booming Self-Storage Industry Says No Problem
Wall Street Journal, Oct. 13, 2015–Pleven, LiamBusiness is booming for companies that lease out storage units to consumers. Rents are rising, most units are occupied and competition is tame due to limited new construction in the wake of the financial crisis.
How Banks Help Rich Clients Invest in Vegas Hotel, NYC Tower
Bloomberg, Oct. 13, 2015–Gopal, Prashant; Collins, Margaret
What does Manhattan’s tallest residential tower have in common with the Hooters hotel-casino in Las Vegas? They’re investments for rich families.