Meridian Capital Group, New York, arranged $55 million to refinance The Urban, a Class A mixed-use property in Flushing, Queens, N.Y.
Category: News and Trends
Ida Losses at $16 – $24 Billion in Insured, Uninsured Flood Losses in Northeast
(Hurricane Ida damage in Houma, La. Photo courtesy National Geodetic Survey.) CoreLogic, Irvine, Calif., released additional loss estimates for Hurricane Ida, following its initial release estimating between $27 billion and …
Hotel Metrics, Debt Markets Bounce Back
The hotel sector continues to bounce back from a devastating 2020, according to new reports from STR and JLL Hotels.
HUD: Without New Housing Supply, Cost Burdens to Increase
HUD released its latest research on innovative strategies being pursued by state and local governments to remove regulatory barriers to affordable housing and increase housing supply, while cautioning that without “significant” news housing, cost burdens are likely to increase.
Fitch Ratings: Life Insurers Have Significant Commercial Mortgage Default Headroom
Fitch Ratings, New York, said potential stress on U.S. life insurers’ commercial mortgage portfolios will not drive rating downgrades, given the industry’s strong capitalization, current loan quality and historical loss experience.
CREF Policy Update Sept. 16, 2021
Commercial and multifamily developments and activities from MBA relevant to your business and our industry.
Personnel News From JLL, Walker & Dunlop
JLL Valuation Advisory hired structured finance specialist John Oates to join its Renewable Energy Valuation team as a Managing Director based in Tampa, Fla.
Commercial/Multifamily Briefs Sept. 16, 2021
Freddie Mac, McLean, Va., priced a new offering of Structured Pass-Through K Certificates backed by underlying collateral consisting of fixed-rate multifamily mortgages with predominantly 10-year terms.
Quote
“Delinquency rates for mortgages backed by commercial and multifamily properties have broadly improved in recent months as the U.S. economy continues to heal from the COVID-19 pandemic. Performance is still property-type dependent, with the properties that saw the most immediate and dramatic impacts from the pandemic–lodging and retail–still experiencing considerably more stress than others but showing improvement.”
–Jamie Woodwell, MBA Vice President of Commercial Real Estate Research.
MBA, Trade Groups, MAA Urge Congress to Support Section 1031 Like-Kind Exchanges, Industry Tax Priorities
Ahead of committee action in Congress this week on major infrastructure and economic legislation, the Mortgage Bankers Association and more than three dozen industry trade groups, as well as MBA’s grassroots advocacy arm, the Mortgage Action Alliance, urged senators and representatives to support and defend the real estate finance industry’s tax priorities.