Multifamily properties that exit the Low-Income Housing Tax Credit program generally continue to rent at levels lower than those charged in the broader market, reported Freddie Mac Multifamily, McLean, Va.
Category: News and Trends
CBRE: Tight Labor Market, Remote Work Changing Growth Patterns
The U.S. added 136,000 new high-tech jobs last year in hubs including the Bay Area, New York and Seattle as well as Nashville, Cleveland and other smaller markets, reported CBRE, Dallas.
Dealmaker: CBRE Sells Upper West Side Apartment for $415M
CBRE, Dallas, arranged the $415 million sale of 160 Riverside Boulevard on Manhattan’s Upper West Side to New York-based apartment investor A&E Real Estate.
Commercial/Multifamily Briefs July 21, 2022
Commercial and Multifamily Briefs from TIAA Bank, Brook Farm Group
Quote
“A fear has been that LIHTC properties would simply jack up rents to the top of the market at the expiration of their rent and income restrictions, generally about 30 years, but that’s not usually the case.”
–Steve Guggenmos, Vice President of Research & Modeling with Freddie Mac, McLean, Va.
Personnel News From MTRCC, Cushman & Wakefield, Berkadia
Christine Chandler, Chief Credit Officer and Chief Operating Officer with M&T Realty Capital Corp., Baltimore, was named a 2022 Woman of Influence by GlobeSt.com.
CREF Policy Update: July 21, 2022
Commercial and multifamily developments and activities from MBA relevant to your business and our industry.
JLL: Real Estate Transparency Gap Widens in Favor of Leading Global Markets
JLL, Chicago, said while many of the world’s leading commercial real estate markets in North America, Western Europe and Australasia are becoming more transparent, most other countries struggle to maintain the pace of transparency improvement.
Commercial Real Estate Sentiment Dips Toward Recession Zone
Commercial real estate executives’ market sentiment has dropped dramatically, reported RCLCO, Washington, D.C.
Jeff Coles of Berkadia on Single-Family Rental/Build-for-Rent Markets
Jeff Coles is Vice President of Institutional Client Services with Berkadia, Washington, D.C. He partners with Dori Nolan, Senior Vice President of Client Services, to grow Berkadia’s relationships with current and new institutional investor clients.