Personnel News from Freddie Mac, The Calida Group and Northmarq.
Category: News and Trends
FHFA Issues Final Rule on 2023-2024 Multifamily Housing Goals
The Federal Housing Finance Agency on Wednesday issued its final rule for Fannie Mae and Freddie Mac that establishes the benchmark levels for their 2023 and 2024 multifamily housing goals.
Commercial/Multifamily Briefs Dec. 15, 2022
Commercial and multifamily briefs from Yardi Matrix, CoWorking Cafe, CoreLogic and Stronghill Capital.
RCLCO: Real Estate Sentiment Hits Record Low as Recession Looms
RCLCO, Washington, D.C., reported its Real Estate Market Sentiment Index decreased 26.9 points over the past six months and dropped 80.6 points since the most recent peak.
Apartment Rents Fall for 3rd Straight Month; Leasing Traffic Remains Soft
RealPage, Richardson, Texas, reported apartment rents declined in November for the third consecutive month.
MBA: 3Q Commercial, Multifamily Mortgage Debt Outstanding Up $70B
Commercial and multifamily mortgage debt outstanding increased by $70.0 billion (1.6 percent) in the third quarter, the Mortgage Bankers Association reported in its quarterly Commercial/Multifamily Mortgage Debt Outstanding Report.
CMBS Special Servicing Rate Rises Again
Trepp, New York, reported the commercial mortgage-backed securities special servicing rate increased in November for the fourth consecutive month.
Dealmaker: Walker & Dunlop Structures $385M Brooklyn Financing
Walker & Dunlop, Bethesda, Md., structured nearly $385 million in financing for 470 Kent Avenue, a mixed-use development on the East River waterfront in Brooklyn’s Williamsburg neighborhood.
RentCafe: Multifamily Boosts Self-Storage Sector
RentCafe, Santa Barbara, Calif., reported self-storage development is being spurred by new apartments coming online all across the country.
Quote
“The amount of commercial and multifamily mortgage debt outstanding increased during the third quarter, driven almost entirely by a large increase in the portfolio holdings of banks and other depositories. The increase in bank holdings was the largest quarterly increase of any individual capital source in the history of MBA’s series. For most other capital sources, their holdings of commercial and multifamily mortgages grew at a slower rate than during the second quarter of 2022.”
–Jamie Woodwell, MBA Head of Commercial Real Estate Research.