NorthMarq, Minneapolis, closed $72 million for two multifamily properties in California and Massachusetts.
Category: News and Trends
MBA: Commercial, Multifamily Mortgage Delinquencies Decrease
Delinquency rates for mortgages backed by commercial and multifamily properties decreased in January, according to the Mortgage Bankers Association’s latest monthly MBA CREF Loan Performance Survey.
Personnel News from PGIM, JLL
PGIM Real Estate hired Stephanie Wiggins as Managing Director and Head of Production for its agency lending platform, responsible for oversight of the firm’s originations for Fannie Mae, Freddie Mac, FHA and affordable multifamily loans.
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“The economy and CRE markets cannot fully recover until we get past the pandemic which is only going to occur via widespread vaccination. That should likely occur around mid-year but if vaccination experiences troubles or delays, pushing that timeframe out, CRE will take longer to recover.” –JLL Chief Economist Ryan Severino
Key Takeaways From MBA’s Hospitality Trends in a Pandemic
Hospitality experts recently discussed their outlooks given challenges in the broader economy and continued soft room demand and business travel.
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“Government financial and monetary relief efforts and strong market liquidity have provided better than expected commercial and multifamily loan performance. The anticipated availability of widespread vaccinations and further economic interventions are expected to positively impact the commercial real estate recovery.”
–Stacey M. Berger, Executive Vice President of Midland Loan Services, Overland Park, Kan.
Personnel News from PSRS, Marcus & Millichap
Pacific Southwest Realty Services announced Michael Tanner will take over the office of President recently vacated by Daniel Phelan, CMB, CCMS.
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“I learned to focus on where we have common ground. I noticed when I try to find what we have in common it allows me to break through and grow relationships and break through barriers to get to know people.” –KeyBank Real Estate Capital Vice President
Amber Rao, from the article Voices: Courageous Conversations With Women of Color
Personnel News From CBRE, NorthMarq
CBRE, Dallas, announced Charlie Knudsen and Julie Cook joined the firm’s investment banking division, CBRE Capital Advisors, to scale up its private placement bond finance business for Credit Tenant Lease financings and other types of asset-backed and leased-backed private placement securities.
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“I learned to focus on where we have common ground. I noticed when I try to find what we have in common it allows me to break through and grow relationships and break through barriers to get to know people.” –KeyBank Real Estate Capital Vice President
Amber Rao, from the article Voices: Courageous Conversations With Women of Color