X-Caliber Funding and CastleGreen Finance, an X-Caliber affiliate that provides capital through Commercial Property Assessed Clean Energy financing, provided $122 million to refinance Long Beach, California’s Fairmont Breakers Hotel & Spa.
Category: News and Trends
CMF Quote of the Week: Feb. 29, 2024
“The U.S. economy had stronger than expected growth in 2023, specifically in Q4, with a 3.3% growth rate, and that’s going to give us some momentum going into 2024.”
–Joel Kan, Vice President and Deputy Chief Economist with the Mortgage Bankers Association
Commercial Property Prices Slip at Slower Rate in January
Real Capital Analytics, New York, reported the annual rate of decline in U.S. commercial property prices slowed in early 2024.
MBA Creates Member Guide Ahead of Partial Government Shutdown Possibility
As of this writing, the federal government is on the brink of a partial shutdown with the first deadline of the current two-tiered Continuing Resolution rapidly approaching. Congressional leaders on Wednesday evening agreed to extend the current agreement for a short time–until March 8 for some federal departments and March 22 for others.
MBA NewsLink Q&A with Daron Tubian of Barings, Chair of the 2024 Affordable Rental Housing Advisory Council
Daron Tubian was named Chair of the 2024 Affordable Rental Housing Advisory Council at CREF24 in San Diego. Tubian previously co-chaired the Council in 2023.
CommercialEdge: Office Market Continues to See Challenges
CommercialEdge, Santa Barbara, Calif., found the average U.S. office listing rate was at $37.35 per square foot, down about 1.8% year-over-year, in January. That’s also down about 29 cents from December.
Miami No. 1 Rental Market, RentCafe Finds
RentCafe, Santa Barbara, Calif., compiled a report on the hottest rental markets for the beginning of 2024, finding Miami takes the top spot, but many markets in the Midwest are also popular.
Economic Outlook: ‘Some Momentum’ Going into 2024–#MBAServicing24
ORLANDO–The U.S. economy was stronger in 2023 than most analysts expected, according to Joel Kan, Vice President and Deputy Chief Economist with the Mortgage Bankers Association.
MBA Chart of the Week: 2024 Commercial Mortgage Maturities Pushed Up by 2023 Extensions
Commercial mortgages tend to be relatively long-lived, spreading maturities out over several years.
CREF Policy Update Feb. 29: Fight for LIHTC! MBA’s National Advocacy Conference on March 19-20
Commercial and multifamily developments and activities from MBA important to your business and our industry.