Merchants Capital’s New York office closed an $18.2 million Housing Development Corporation Fannie Mae Risk Share loan for Mannie Wilson Towers, a historic affordable housing development in Manhattan’s Harlem neighborhood.
Category: News and Trends
MBA: April C/MF Mortgages Delinquencies Decline
Delinquency rates for mortgages backed by commercial and multifamily properties decreased again in April, reaching the lowest level since the onset of the COVID-19 pandemic, the Mortgage Bankers Association’s latest monthly CREF Loan Performance Survey reported.
Hotel Recovery Reaches ‘Plateau’
The hotel sector’s recovery continues, though it has “plateaued” for the moment, analysts with STR and Trepp LLC reported.
CMBS Market Musings: Trophy Asset, Transitional Loan Transactions Thrive
The private-label CMBS market remains a mixed bag, showing signs of a K-shaped recovery in the second quarter with delinquency and default numbers trending down now for nine consecutive months.
Personnel News From NorthMarq, Walker & Dunlop, KBRA
Eduardo Padilla, Executive Chair of NorthMarq, announced he is retiring May 14 after nearly 30 years with the company.
Office Sector at a Crossroads
JLL, Chicago, says the U.S. office market is at a “critical crossroads.”
Quote
“The COVID-19 pandemic has highlighted the importance of ‘home’–it became our workplace, our school and our shelter from the storm. So, the hard work of closing an affordable deal feels doubly sweet when you know that your efforts are providing high-quality affordable housing for those who need it most, when it is needed the most.”–Terry Wellman, FHA Chief Underwriter for Affordable at Berkadia, discussing affordable housing and MBA’s new FHA Affordable/221(d)(4) Underwriter Training Program.
CREF Policy Update May 6, 2021
Commercial and multifamily developments and activities from MBA relevant to your business and our industry.
CMBS Supply-Demand Fundamentals Dip
Moody’s Investors Service, New York, said the supply and demand outlook for most property types in the securitized commercial real estate market dipped in fourth-quarter 2020.
Zillow: Apartment Rents Gain Momentum
Apartment rents are gaining momentum and touching double-digit annual gains in hot markets, which could move some renters into the homeownership market, Zillow said in its Monthly Market Report.