Rent growth in single-family rental properties now exceeds pre-pandemic rates across all price tiers, including low-end rentals for the first time, reported CoreLogic, Irvine, Calif.
Category: News and Trends
MBA: 1st Quarter Commercial/Multifamily Mortgage Debt Up 1.1%
Commercial and multifamily mortgage debt outstanding rose by $44.6 billion (1.1 percent) in the first quarter, the Mortgage Bankers Association’s latest Commercial/Multifamily Mortgage Debt Outstanding report said.
Personnel News From Walker & Dunlop, JLL Institutional Property Advisors
Walker & Dunlop hired Kelly Mitchell as Managing Director. She will drive outreach to the firm’s large institutional clients, both foreign and domestic.
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“As the Administration continues its support for housing, we urge you to sunset the nationwide federal moratorium on evictions on June 30th and focus on targeted housing support for those renters who continue to recover from the pandemic.” –from a June 11 letter signed by MBA and a dozen industry trade groups to the Biden Administration.
CREF Policy Update June 17, 2021
Commercial and multifamily developments and activities from MBA relevant to your business and our industry.
MBA Urges Support of Affordable Housing Provisions to House Infrastructure Bill
The Mortgage Bankers Association sent a letter to the House Transportation and Infrastructure Committee on Tuesday urging support for two provisions that support affordable housing incentives.
Fitch: Urban Multifamily Recovery Years Away Despite Demand Growth
Urban multifamily rental demand is improving as pandemic restrictions are lifted and workers return to offices, but a full recovery could take longer than prior recoveries, reported Fitch Ratings, New York.
Dealmaker: Mesa West Capital Funds $178M For Office Acquisition, Conversion
Mesa West Capital, Los Angeles, provided Longfellow Real Estate Partners, Boston, with $178 million for San Mateo Bay Center, a 235,900-square-foot office campus in San Mateo, Calif.
Net-Lease Investment Approaches Pre-Pandemic Level
Investment in U.S. net-lease properties approached pre-pandemic levels in the first quarter, reported CBRE, Dallas.
FHFA, GSEs Extend COVID-19 Multifamily Forbearance Through Sept. 30
The Federal Housing Finance Agency said Fannie Mae and Freddie Mac will continue to offer COVID-19 forbearance to qualifying multifamily property owners through September 30, subject to the continued tenant protections FHFA has imposed during the pandemic. This is the third extension of the programs, which were set to expire June 30.