Gantry, San Francisco, secured $25.6 million in financing for two Seattle office assets.
Category: News and Trends
A Conversation with MBA Affordable Housing Advisory Council Co-Chairs
The Mortgage Bankers Association recently created two Affordable Advisory Councils, dedicated to supporting CONVERGENCE, the MBA Affordable Housing Initiative. These Councils are currently led by four senior executives: Christine Chandler (M&T Realty Capital Corp.), Tony Love (Bellwether Affordable Housing Group), Anthony Weekly (Truist Bank) and David Battany (Guild Mortgage).
Office Demand Approaches Pre-COVID Levels in Some Large Market
One year after the pandemic started, demand for office space in the country’s largest markets is approaching pre-COVID levels and recovery appears to be looming for several markets, reported VTS, New York.
Personnel News from Electra Capital, M&T Realty Capital Corp.
Electra Capital, Lake Park, Fla., appointed Eugene Rutenberg to serve as Managing Director of Originations
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“Commercial and multifamily mortgage delinquencies fell for the third straight month in March and are now at their lowest level since the pandemic disrupted the economy and commercial real estate a year ago. There continues to be significant differences in loan performance by property type, with higher delinquencies rates for lodging- and retail-backed mortgages.”
–Jamie Woodwell, MBA Vice President of Commercial Real Estate Research.
Personnel News from Electra, M&T Realty Capital Corp.
Electra Capital, Lake Park, Fla., appointed Eugene Rutenberg to serve as Managing Director – Originations.
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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.