One of the most striking aspects of the COVID-19 pandemic’s impact on commercial and multifamily real estate has been the disparity in the ways different property types have been affected. MBA’s monthly CREF Loan Performance Survey continues to show the immediate and dramatic rise in delinquency rates among lodging and retail properties.
Category: News and Trends
MBA Seeks Nominations to Serve on COMBOG Committee
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.
Risks to Affordable Multifamily Housing Remain Despite Stimulus
Fitch Ratings, New York, said rental assistance provided under the American Rescue Plan will help renters and multifamily property landlords, but the extent to which the ARP can keep delinquencies low is uncertain, as the amount of unpaid back rent is difficult to estimate due to lack of data.
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“Cap rate compression for retail and industrial assets can be best attributed to investor demand for secure cash flow streams.”
–Boulder Group President Randy Blankstein.
MBA: March Commercial/Multifamily Mortgage Delinquencies Fall for 3rd Straight Month
Delinquency rates for mortgages backed by commercial and multifamily properties decreased again in March, reaching the lowest level since the onset of the COVID-19 pandemic, according to the Mortgage Bankers Association’s latest monthly MBA CREF Loan Performance Survey.
Dealmaker: Marcus & Millichap Arranges $116M for Multifamily
Marcus & Millichap arranged $116 million in financing for multifamily assets in Alabama, Colorado and New York.
Hotel Debt Markets Improving
The hospitality debt market is showing a resurgence as the lodging industry continues to recover, said JLL, Chicago.
CRE Investors Show Increased Appetite for Risk
CBRE, Dallas, said commercial real estate investors are showing a clear shift in risk tolerance–and a new preference for secondary markets.
CDC Extends National Eviction Moratorium to June 30
The Centers for Disease Control and Prevention announced this week an extension to the eviction moratorium further preventing the eviction of tenants who are unable to make rental payments. The moratorium that was scheduled to expire on March 31 is now extended through June 30.
mPact’s Commercial Production Advisory Council Welcomes Maggie Burke as Chair
The Mortgage Bankers Association’s young professional’s group, mPact, welcomes a new chair this month for the Commercial Production Advisory Council, Berkadia’s Maggie Burke.