News in brief from HUD, Strawberry Fields REIT, Aeon Investments.
Category: News and Trends
Commercial and Multifamily People in the News Nov. 3, 2022
Personnel News from Transwestern, Walker & Dunlop and JLL.
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“We’ve moved from a period of ‘irrational exuberance’ to more realistic values as of today in the industrial markets. The days of throwing out a number to win a deal and penciling it out afterwards ended in first-quarter 2022. Current values still indicate that industrial is outperforming many other sectors, bolstered by incredibly low vacancy in the sector, which allows for significant rent growth to still occur and at least partially offset capitalization rate expansion.”
–Katie Parsons, Managing Director and Head of the Industrial Sector for JLL Valuation Advisory.
MBA CREF Policy Update Nov. 3, 2022
Commercial and multifamily developments and activities from MBA relevant to your business and our industry.
Don’t Miss MBA #CREF23
Join thousands of your commercial and multifamily real estate colleagues in San Diego for the MBA Commercial/Multifamily Finance Convention & Expo, Feb 12-15, 2023.
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“As we get ready for the year ahead, I promise to support you and strengthen you, in all I do. In my experience, good leadership starts with good listening, so I’d love to hear from as many of you as possible.”
–2023 MBA Chairman and CEO of Grandbridge Real Estate Capital Matt Rocco, speaking Monday at the Mortgage Bankers Association’s Annual Convention & Expo.
Dealmaker: Dwight Capital Finances $73.7M
Dwight Capital, New York, provided a $36 million HUD 223(f) loan for Villas of Capri, a 235-unit affordable apartment community in Naples, Fla.
Commercial Property Price Growth Slows
Real Capital Analytics, New York, reported U.S. commercial property price growth slowed in September to the weakest rate seen since early 2021.
STR: Hotel Construction Pipeline Increases for 3rd Month
U.S. hotel construction ticked upward in September for the third consecutive month, reported STR, Hendersonville, Tenn.
A Critical Juncture for Affordable Housing
The affordable housing market sits at a “critical juncture” as heightened housing demand and soaring inflation challenge low-income households, reported Arbor, Uniondale, N.Y.