Gantry, San Francisco, secured $9.6 million in financing for the $17.4 million acquisition of a recently constructed multi-tenant industrial property in Phoenix’s Southwest Industrial submarket.
Category: News and Trends
Yardi Matrix: Institutions ‘Flocking’ to Build Single-Family Rentals
As the single-family rental market evolves, institutional players are jumping in with more than $10 billion allocated to the sector by institutions over the last few years, reported Yardi Matrix, Santa Barbara, Calif.
Fitch Ratings: Environmental Factors Can Affect CMBS Large Loan Ratings
Fitch Ratings, New York, said a property’s environmental impact and sustainability may influence commercial mortgage-backed securities bond ratings in single-asset single-borrower and large-loan transactions.
Proptech Changing Real Estate Industry
Real estate has not always been seen as the most technology-focused industry, but that is changing fast, the Urban Land Institute and law firm Goodwin said.
Lodging Demand Could Return to Pre-Pandemic Level By Late 2023
CBRE Hotels, Dallas, said U.S. lodging demand could return to its pre-pandemic level by fourth-quarter 2023.
Personnel News From JLL, BWE Investment Sales
Jones Lang LaSalle Inc., Chicago, appointed Ben Breslau to the newly established role of Chief Research Officer, effective immediately. He will work closely with the firm’s Global Executive Board and chair the firm’s Global Research Executive Board.
Nomination Deadline Aug. 13: MBA DEI Leadership Commercial/Multifamily Award
Inspire change; share success. The Mortgage Bankers Association recognizes residential and commercial/multifamily members who show leadership in the areas of Diversity, Equity and Inclusion (DEI) internally through market outreach efforts with its annual DEI Leadership Awards.
Quote
“Commercial and multifamily real estate markets are moving past the pain that the COVID-19 pandemic caused in 2020. There remain significant differences by property type, but incomes have rebounded strongly and investor interest in real estate and real estate finance is robust. The result is strong property appreciation and increased transaction activity, both of which is fueling financings.”
–Jamie Woodwell, MBA Vice President for Commercial Real Estate Research.
MBA: Multifamily Lending Hits $360 Billion in 2020
Last year 2,140 different multifamily lenders provided a total of $359.7 billion in new mortgages for apartment buildings with five or more units, the Mortgage Bankers Association reported.
Commercial and Multifamily Mortgage Delinquencies Declined in July
Delinquency rates for mortgages backed by commercial and multifamily properties declined in July, the Mortgage Bankers Association’s latest CREF Loan Performance Survey reported.