Yardi Matrix, Santa Barbara, Calif., said multifamily construction reached a 50-year high, with 420,000 new apartments expected to deliver nationwide this year.
Category: News and Trends
Dealmaker: Berkadia Arranges $58M Construction Loan in Miami
Berkadia, New York, arranged $57.5 million in construction financing for Fourteen Residences Allapattah, a two-tower, 237-unit Miami apartment community.
MBA Chart of the Week: Rent Growth–Year-over-Year Percentage Change
This week’s MBA Chart of the Week highlights a question related to housing costs and inflation: If home price appreciation and rent growth have been in double digits in the past few quarters—as highlighted by the (blue lined) Zillow Observed Rent Index in the chart—why is the shelter component (orange line) of the Consumer Price Index below 6%?
CMBS Loan Delinquency Rate Drops Below 2%
Fitch Ratings, New York, said the commercial mortgage-backed securities delinquency rate fell eight basis points in August to 1.97% due to continued strong resolutions and fewer new delinquencies.
MBA White Paper: Office Market ‘Likely Changed Forever’
The ongoing tug of war between employers and employees about returning to the office will accelerate as pandemic-related impacts fade, according to a new Mortgage Bankers Association white paper.
Tenant Quality Makes a Difference
Commercial real estate tenant quality grows even more important in a recessionary environment, reported DBRS Morningstar, Toronto.
CRE People in the News Sept. 15, 2022
Personnel News from JLL, Transwestern, Walker & Dunlop and Dekel Capital.
Quote
“Thanks to a very tight labor market and technological advances, hybrid work reigns two and a half years since the onset of the COVID-19 pandemic, with employees at many companies coming into the office a few days a week. The extent to which this trend will continue–and what it means for the office market–will greatly depend on employees’ and employers’ costs and benefits of being in the office versus remote, and whether a transition to a looser labor market tilts the bargaining table to employers and their preference for more in-person collaboration.”
–Mike Fratantoni, MBA Senior Vice President and Chief Economist.
MBA Chart of the Week: Quarterly NCREIF Property Returns
Federal Reserve Board Chair Jerome Powell warned at Jackson Hole, Wyo., last month, “Inflation is running well above 2 percent, and high inflation has continued to spread through the economy. While the lower inflation readings for July are welcome, a single month’s improvement falls far short of what the Committee will need to see before we are confident that inflation is moving down.”
MBA CREF Policy Update Sept. 15, 2022
Commercial and multifamily developments and activities from MBA relevant to your business and our industry.