“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
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.
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.
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.
JLL, Chicago, arranged a $150 million refinancing for the 606-key Fairmont San Francisco for borrower Mirae Asset Global Investments, Seoul, South Korea.
The hotel sector recovery has slowed in recent months after rebounding in the fall from April lows, said Fitch Ratings, New York.
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.
RCLCO, Bethesda, Md., noted rental housing occupancy and rents have grown stronger in suburban markets than in urban areas recently.
CBRE promoted Aja Ladson to lead the Quality, Health, Safety and Environment function within the firm’s Global Workplace Solutions business.
The commercial mortgage-backed securities delinquency rate dipped in November, largely due to continued Coronavirus debt relief, said Fitch Ratings, New York.
