Commercial real estate executives’ market sentiment slipped from six months ago but remains strong, reported RCLCO, Bethesda, Md.
Category: News and Trends
Omicron Wave Weakens Hotel Revenue Recovery
Fitch Ratings, New York, said the global spread of the Omicron variant and new travel restrictions weaken the recovery prospects for hotel revenue per available room.
Dealmaker: Northmarq Secures $36M in California
Northmarq, Minneapolis, secured $36.1 million for California mixed-use and flex properties.
Commercial, Multifamily Briefs from Bellwether Enterprise Real Estate Capital, Eastdil Secured
Bellwether Enterprise Real Estate Capital LLC acquired Washington, D.C. area-based Phillips Realty Capital.
Harvard: Surging Rental Market Divided by Race, Income
Rental housing demand roared back in the pandemic’s second year, reducing vacancy rates and driving up rents, the Harvard Joint Center for Housing Studies reported Friday.
Dealmaker: Berkadia Secures $84M for New York Hotel-to-Multifamily Conversion
Berkadia secured $84 million in stretch senior financing for Emmut Properties, New York, to acquire Excelsior Hotel on Manhattan’s Upper West Side.
Trepp: Bank CRE Loan Originations Up, Delinquencies Down
Trepp LLC, New York, said bank commercial real estate originations rebounded in the third quarter, while delinquencies continue to trend downward after increasing modestly in 2020.
CREF Policy Update Jan. 27, 2022
Commercial and multifamily developments and activities from MBA relevant to your business and our industry.
Quote
“By creating a comprehensive, well-funded housing safety net, the nation has the opportunity to pull millions of households out of poverty, address longstanding inequities in housing delivery and ensure that every household has access to a decent and affordable home.” –Chris Herbert, Managing Director of the Joint Center for Housing Studies at Harvard University.
Personnel News from Merchants Capital, Institutional Property Advisors
Merchants Capital, Carmel, Ind. said Lauren Campbell joined the firm as Senior Vice President and General Counsel.