According to RealPage Analytics, Richardson, Texas, and Redfin, Seattle, rents were fairly flat in September.
Category: News and Trends
Dealmaker: Gantry Secures $19M to Refinance Industrial Portfolio
Gantry, San Francisco, secured a $19 million permanent loan to cross-collateralize and refinance the acquisition costs of three single-tenant industrial properties.
Fitch Ratings: Life Insurers Can Withstand Commercial Real Estate Deterioration
Fitch Ratings, New York, said U.S. life insurers’ ratings are not currently at risk from commercial real estate exposure, due to insurers’ stable investment portfolios, conservative underwriting, strong liquidity and effective asset-liability management.
CMF Quote of the Week: Oct. 12, 2023
“Rents have flattened because a boom in apartment building in recent years has flooded the market with supply, but they haven’t yet posted a substantial decline because there’s still demand for rentals—especially as high mortgage rates keep many would-be homebuyers and sellers on the sidelines.”
–Redfin Economics Research Lead Chen Zhao.
CREF Policy Update Oct. 12
Commercial and multifamily developments and activities from MBA important to your business and our industry.
Nov. 9: CREF Career Conversations
Commercial/multifamily finance presents a wide array of career opportunities with its ecosystem of companies, roles, and functions supporting the capital needs of real estate owners and operators. Join MBA Education and industry executives for a discussion to explore career trajectories, pivots, and leadership lessons learned.
Construction Spending Increases Again
The U.S. Census Bureau reported construction spending increased in August to a seasonally adjusted annual rate of $1,983.5 billion, 0.5 percent above the bureau’s revised July estimate.
MBA Chart of the Week: FOMC Summary of Economic Projections for Fed Funds Rate
In this week’s MBA Chart of the Week, we track changes in policymakers’ quarterly published SEP federal funds rate forecasts over the last eleven quarters.
Dealmaker: JLL Arranges $96.5M Construction Loan in Arizona
JLL Capital Markets, Chicago, originated a $96.5 million construction loan for a logistics development in Glendale, Ariz., near Phoenix.
CBRE Finds Office Conversions More Than Doubling
CBRE, Dallas, found nearly 100 office-conversion projects are slated to be completed in major U.S. cities this year. That’s more than double the average of 41 per year from 2016 to 2022.