HUD on Monday submitted a $73.3 billion fiscal 2024 budget, an increase of $1.1 billion from the current fiscal 2023 enacted funding level, including $104 billion for new mandatory affordable housing investments.
Category: News and Trends
MBA Chart of the Week March 16 2023–Estimated Total Commercial Mortgage Maturities
At MBA’s CREF Convention in San Diego last month, we released the results of our annual survey of upcoming commercial and multifamily mortgage maturities. The survey collects information directly from loan servicers on when the loans they service mature.
Dealmaker: NewPoint Provides $21M Construction Loan in Milwaukee
NewPoint Real Estate Capital, Plano, Texas, provided $20.6 million to develop Michigan Street Commons, a 99-unit affordable housing community to be built in Milwaukee, Wis.
CBRE: Looming Multifamily Oversupply Likely Short-Lived
CBRE, Dallas, said delivery of a near-record 716,000 new multifamily units over the next two years will create a short-term oversupply, but noted the new supply will keep long-term fundamentals healthy.
RIHA Releases Second Collection of Essays on Climate Change’s Impact on Real Estate Finance
The Mortgage Bankers Association’s Research Institute for Housing America published a second collection of essays that addresses affects of climate change on the real estate finance industry.
RealPage: Apartment Rent Collections Reach Highest Mark Since Before COVID
RealPage, Richardson, Texas, reported market-rate apartment renters are paying their monthly rent at the highest frequency in three years.
MBA CREF Policy Update March 16, 2023
Commercial and multifamily developments and activities from MBA important to your business and our industry.
Commercial/Multifamily Briefs, March 16, 2023
Commercial and Multifamily Briefs from KBRA and Green Street.
CMF Quote of the Week: March 16, 2023
“MBA and its members are committed to expanding affordable rental housing opportunities for minorities and communities of color. The Council is instrumental in developing strategies and recommendations that will assist MBA in creating effective and equitable solutions to address our nation’s affordable rental housing crisis.”
–MBA President and CEO Bob Broeksmit, CMB, discussing MBA’s 2023 Affordable Rental Housing Advisory Council.
Commercial and Multifamily People in the News March 16, 2023
Personnel News from Northmarq, nxtCRE and Greystone.