“The increase in holdings by depositories was the largest on record. The data match the fact that the first half of 2022 saw more commercial and multifamily borrowing and lending than any previous January through June period.”
–Jamie Woodwell, MBA Vice President of Commercial Real Estate Research
Personnel News from CBRE, JLL and Greystone.
Commercial and multifamily mortgage delinquencies declined in the second quarter, the Mortgage Bankers Association’s latest Commercial/Multifamily Delinquency Report said.
PNC Bank, N.A., Pittsburgh, closed a $181 million fund to develop and rehabilitate affordable rental housing for families and seniors. PNC said the fund will provide financing for nearly 1,800 affordable housing rental units at 17 multifamily properties across 13 states.
Commercial real estate capital markets could be at an inflection point, said Colliers International, Toronto.
Commercial and multifamily mortgage delinquencies declined in the second quarter, the Mortgage Bankers Association’s latest Commercial/Multifamily Delinquency Report said.
CBRE, Dallas, raised its forecast for hotel performance based on second-quarter gains and its expectation for slightly positive GDP growth next year.
Yardi Matrix, Santa Barbara, Calif., said multifamily construction reached a 50-year high, with 420,000 new apartments expected to deliver nationwide this year.
Berkadia, New York, arranged $57.5 million in construction financing for Fourteen Residences Allapattah, a two-tower, 237-unit Miami apartment community.
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%?
