Commercial real estate releases carbon emissions from natural gas boilers, diesel back-up generators and other sources, but JLL, Chicago, said efforts are growing to power buildings entirely by electricity.
Category: News and Trends
Push to Preserve Small Rental Buildings During a Pandemic
The pandemic has disproportionately affected renters who live in small, unsubsidized multifamily buildings, which makes it more important than ever to preserve these buildings, said the Urban Institute, Washington, D.C.
Apartment Investment Environment Remains Positive
Freddie Mac, McLean, Va., said its Apartment Investment Market Index remained positive in the fourth quarter despite contractions in several major metros.
Personnel News from NorthMarq, Walker & Dunlop
NorthMarq President of Debt and Equity William Ross announced plans to retire from NorthMarq after 45 years in the commercial real estate mortgage banking industry, 12 of which were with NorthMarq.
Dealmaker: JLL Secures $393M for Life Sciences Facility
JLL Capital Markets, Chicago, arranged a $393 million construction financing to redevelop 125 West End Ave. in Manhattan into a life sciences facility.
KBRA: Review Those Remittance Reports
Kroll Bond Rating Agency, New York, said higher commercial mortgage-backed securities special servicing volume and modifications increase the risk of operational errors or inconsistencies in servicer and trustee reporting.
Low-Income Renters Not Seeing Pandemic Savings
Rent growth has slowed during the pandemic, seemingly a boost for rent affordability. But more expensive areas tended to soften the most, giving little respite to renters in lower-priced areas, reported Zillow, Seattle.
Quote
“We believe the enactment of these taxes would exacerbate the affordable housing challenges in New York and effectively increase rents on low- to middle-income New York families and small businesses, at a time when they can least bear that increase.”
–MBA-led coalition letter to New York political leaders opposing a proposed tax and recording requirement for mezzanine debt and preferred equity.
CREF Policy Update March 25, 2021
Commercial and multifamily developments and activities from MBA relevant to your business and our industry.
Bellwether Enterprise Closes $41M in Financing for Two Texas Properties
Bellwether Enterprise Real Estate Capital, Cleveland, closed $41.1 million in financing for two Texas properties.