Little more than a year ago, virtual and remote business solutions went from a convenience to critical as the world grappled with the COVID-19 pandemic.
Category: News and Trends
Dealmaker: NorthMarq Arranges $166M in JV Equity, Construction Financing in California
NorthMarq, Minneapolis, arranged $166 million in joint venture equity and construction financing for a waterfront apartment development in Alameda, Calif.
Commercial-Multifamily Briefs from Freddie Mac, Eastern Union
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
“Over the past year, pandemic-related restrictions have led to deteriorating fundamentals in particularly the hotel, retail and office sectors.” –Moody’s Managing Director Keith Banhazl.
MBA Seeks COMBOG Committee Nominations by April 30
The Mortgage Bankers Association’s Commercial Real Estate/Multifamily Finance Board of Governors (COMBOG) Nominating Committee seeks members’ recommendations for individuals to serve on the Board beginning this October in the Investor, Lender, Mortgage Banker and Servicer categories. This is an important process that determines the leadership for MBA’s commercial/multifamily membership.
SBA Releases Restaurant Revitalization Fund Guide and Requirements–Application Process to Open Soon
The Small Business Administration launched a webpage on its Restaurant Revitalization Fund program, which provides emergency assistance for eligible restaurants, bars and other qualifying businesses affected by COVID-19.
Brace for Impact: CRE Finance Implications of Transition Away from LIBOR
The finance industry’s march towards transition away from LIBOR index continues as the third quarter approaches. For all the talk of upward revisions to economic growth projections, the market still awaits the first balance sheet commercial mortgage loan based on SOFR index.
Freddie Mac: Expanded Pandemic Benefits Helping Unemployed Renters
Expanded unemployment benefits and federal stimulus payments are benefiting unemployed renters during COVID-19, reported Freddie Mac Multifamily, McLean, Va.
Personnel News From Gantry, CBRE
Gantry, San Francisco, expanded its origination and production team with two new professionals working from its Phoenix, Ariz. and Newport Beach, Calif. offices.
CMF Briefs From Vornado, LBC Credit Partners
Vornado Realty Trust, New York, said Vornado Realty L.P., the operating partnership through which Vornado Realty Trust conducts its business, has extended one of its two unsecured revolving credit facilities to April 2026.