Institutional investors expect positive full-year 2020 commercial real estate returns, but not by very much, the Pension Real Estate Association’s quarterly Consensus Forecast Survey reported.
Category: News and Trends
Dealmaker: IPA Brokers $42M in Retail Property Sales
Institutional Property Advisors, Ontario, Calif., brokered $42.4 million in retail property sales in Indiana, Michigan and Florida.
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“If you had asked me as 2020 began what my top issues would be this year, I would have said people, communication and liquidity. Those were my top three concerns. Now, the top issue is how do we keep the lines of communication open.”
–PGIM Real Estate and Prudential Private Capital Chief Financial Officer Edwin Farah
CREF Market Outlook: The Four-Bucket Theory
The pandemic has affected different commercial property types in very different ways, and they will likely perform differently when the economy bounces back, said MBA Vice President of Commercial Real Estate Research Jamie Woodwell.
MBA: Commercial/Multifamily Mortgage Delinquency Rates Continue to Vary by Property Types, Capital Sources
Commercial and multifamily mortgage performance remains mixed, revealing the various impacts the COVID-19 pandemic has had on different types of commercial real estate, according to two reports released today by the Mortgage Bankers Association.
Briefs from Freddie Mac, Moody’s Analytics REIS, Lument
Freddie Mac, McLean, Va., announced its latest offering of Structured Pass-Through K Certificates will include classes of floating-rate bonds indexed to the Secured Overnight Financing Rate and backed by underlying mortgages that are also indexed to SOFR.
Dealmaker: JLL Arranges $150M Fairmont San Francisco Refinance
JLL, Chicago, arranged a $150 million refinancing for the 606-key Fairmont San Francisco for borrower Mirae Asset Global Investments, Seoul, South Korea.
Hotel Sector Recovery Slows
The hotel sector recovery has slowed in recent months after rebounding in the fall from April lows, said Fitch Ratings, New York.
REIT Outlook Negative, But Improving
The 2021 rating outlook for U.S. real estate investment trusts remains negative, but Fitch Ratings, New York, said its outlook for the sector is improving.
Suburban Rental Growth Outpacing Urban
RCLCO, Bethesda, Md., noted rental housing occupancy and rents have grown stronger in suburban markets than in urban areas recently.