Commercial and multifamily personnel news from CBRE, Gantry, JLL and Merchants Bank.
Category: News and Trends
CMF Quote of the Week
“It has become increasingly challenging for American renters to make the shift to homeownership thanks to the triple whammy of rising home prices, high mortgage rates and a shortage of houses for sale.”
–Redfin Senior Economist Elijah de la Campa.
LightBox: CRE Index Posts Strongest Reading Since 2022, but Outlook Uncertain
LightBox, New York, reported its Commercial Real Estate Activity Index rose sharply in March to 104.4, the highest level since June 2022 and only the second triple-digit reading in nearly three years.
Colliers: Big-Box Industrial Properties Lead the Way
Big-box industrial buildings have led the way for the overall industrial market over the past several years according to Colliers, Seattle.
MBA Newslink Q&A: JLL’s Kent Cullins Discusses the Healthcare Sector
MBA NewsLink sat down with JLL’s Kent Cullins, who leads JLL’s Value & Risk Advisory Healthcare team, to discuss some of the major trends, opportunities and challenges he’s seeing in the sector.
RentCafe: Average U.S. Apartment Size Is Increasing
RentCafe, Santa Barbara, Calif., reported the average apartment size in the U.S. increased last year, to sit at 908 square feet.
Redfin: Gap Between Income Needed for Buying vs. Renting Widens
Redfin, Seattle, found that Americans need to earn $116,633 per year to afford the median priced home for sale, compared with $64,160 needed to afford the typical apartment for rent.
Dealmaker: Bayview PACE Provides $137M C-PACE Financing for Westin Resort
Bayview PACE, a division of Silver Hill Funding, LLC, provided $137 million in C-PACE funding for the development of the 502-key, $420 million Westin Cocoa Beach Resort & Spa in Cocoa Beach, Fla.
CREF Policy Update: CFPB Agrees to Reopen Dodd-Frank Section 1071 Rulemaking
Commercial and multifamily developments and activities from MBA important to your business and our industry.
Redfin: February Sees Highest Share of Condos Selling Under List Price in 5 Years
Redfin, Seattle reported that 68.4% of condos that sold in February did so for less than their original asking price.