These can be challenging times for commercial real estate borrowers facing tight credit markets. It’s also stressful for banks who want to help their clients but are limited in what they can do. Enter C-PACE.
Category: News and Trends
Affordable Housing Vital as 4% LIHTC Utilization Reaches New High, Arbor Reports
Arbor Realty Trust, Uniondale, N.Y., released its Affordable Housing Trends Report for Fall 2023, finding that utilization of the 4% Low-Income Housing Tax Credit has reached a new high, among other notable takeaways.
CBRE: Hotel Revenue Growth Predicted for 2024 Despite Slower Q3
CBRE, Dallas, is forecasting a recovery in revenue per available room growth for hotels in 2024.
CREF Policy Update Nov. 30: FHFA Issues Final Rule Amending Enterprise Regulatory Capital Framework
Commercial and multifamily developments and activities from MBA important to your business and our industry.
Annual Single-Family Rent Growth Relaxes Again in September, CoreLogic Finds
CoreLogic, Irvine, Calif., found annual single-family rent growth dropped to the lowest point in three years in September with a 2.6% year-over-year increase.
STR, TE Upgrade Hotel Average Daily Rate, Revenue Forecast
STR and Tourism Economics lifted their year-over-year growth projections for hotel average daily rates and revenue per available room in their final hotel forecast revision of 2023.
CMF Quote of the Week: Nov. 30, 2023
“Single-family rent growth eased again in September and is now back to the rate recorded before the pandemic.”
–Molly Boesel, Principal Economist for CoreLogic
Dealmaker: Eastern Union Closes on $74M Refinance for New Jersey Property
Eastern Union, New York, announced it closed on a $74.2 million transaction to refinance a construction loan for a multifamily property in northern New Jersey.
CMF Quote of the Week: Nov. 16, 2023
“A cap of $70 billion for each of the GSEs is reasonable, given the challenging market conditions and high interest rate environment expected in 2024.”
–MBA President and CEO Bob Broeksmit, CMB, on FHFA’s 2024 Multifamily Loan Purchase Caps
MBA’s Statement on FHFA’s 2024 Multifamily Loan Purchase Caps
MBA President and CEO Bob Broeksmit, CMB, released a statement regarding the Federal Housing Finance Agency’s (FHFA) announcement of the 2024 multifamily lending purchase caps for Fannie Mae and Freddie Mac (the GSEs).