Electra Capital, Lake Park, Fla., appointed Eugene Rutenberg to serve as Managing Director – Originations.
Category: News and Trends
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“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.
MBA Letters Oppose Proposed New York Mezzanine Debt/Preferred Equity Tax, Support Like-Kind Exchanges
The Mortgage Bankers Association weighed in to oppose a proposed New York tax and recording requirement for mezzanine debt and preferred equity and to support like-kind exchanges.
MBA, Other Groups Urge Support of Housing Supply & Affordability Act
The Mortgage Bankers Association and a broad coalition of more than 100 national and regional trade associations and community support groups urged Congress to pass S. 5061, the Housing Supply and Affordability Act, a bipartisan bill that would authorize $1.5 billion over five years for federal grants to local governments that commit to increase their supply of local housing.
JLL: Real Estate Going Electric
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.
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.