U.S. hotel demand and average daily room rates should near full recovery next year, a new forecast from STR and Tourism Economics said.
Category: News and Trends
Investors Increase Commercial Real Estate Allocations
Despite decreased returns in 2020, institutional investor confidence in commercial real estate remains strong, according to Hodes Weill & Assocs. and Cornell University’s Baker Program in Real Estate.
Dealmaker: Greystone Capital Advisors Arranges $77M Multifamily Refinance
Greystone Capital Advisors, New York, arranged a $77.2 million loan for a joint venture between Young Cos. and Phil Craft to refinance to refinance The Rockwell in New Rochelle, N.Y.
COMBOG Corner: Interview with StanCorp’s Amy Frazey
Commercial real estate lending markets are on a tear heading into the last months of 2021. Life insurance companies are one of many capital sources benefiting from improved transaction volumes and economic fundamentals.
Tenants Committing to Longer Leases
Commercial real estate tenants are ready to commit to longer lease terms, reported software firm Visual Lease, Woodbridge, N.J.
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“This past year and a half highlighted the need to adapt and stay current with numerous changes in state and federal rules while working with borrowers on COVID-19 forbearance requests and/or issues.”
–Stancorp Assistant Vice President and MBA COMBOG member Amy Frazey.
Jobs Reports: October Private-Sector Employment Up by 571,000; the ‘Great Resignation’ Effect on Commercial Estate
In the first of several major reports this week on U.S. employment, ADP, Roseland, N.J., said private-sector employment increased by 571,000 jobs from September to October.
MBA: 3Q Commercial/Multifamily Borrowing Jumps Nearly 120% Year over Year
Commercial and multifamily mortgage loan originations increased by 119 percent in the third quarter from a year ago and increased by 19 percent from the second quarter, the Mortgage Bankers Association’s Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations reported.
Small-Cap Commercial Real Estate Firing on All Cylinders
The economic rebound has boosted small businesses, giving small-cap commercial real estate leasing and investment markets a jolt, reported Boxwood Means LLC, Stamford, Conn.
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“Stellar small-cap retail sector performance, which flies in the face of public debate ad nauseum about the existential threat to retail posed by online shopping, conjures up Rodney Dangerfield’s famous line about getting no respect,”
–Randy Fuchs, Principal and Co-Founder with Boxwood Means LLC, Stamford, Conn.