More office space will be removed from the U.S. market this year than added to it for the first time since at least 2018, which indicates the market is stabilizing, according to CBRE, Dallas.
Category: News and Trends
RentCafe: Millionaires Increasingly Likely to Rent
RentCafe, Santa Barbara, Calif., found that the number of millionaire renters has tripled since 2019.
Trepp: CMBS Delinquency Rate Increased Slightly in May
Trepp, New York, reported that its CMBS delinquency rate rose to 7.08% in May, up five basis points.
BofA: 60% of Homeowners, Prospective Buyers Uncertain About Housing Market
Uncertainty among current homeowners and prospective buyers has reached a three-year high, with 60% unsure whether now is a good time to buy a home, compared to 48% two years ago, Bank of America reported.
Dealmaker: JLL Arranges $136M Refinancing for Fairmont Orchid in Hawaii
JLL’s Hotels & Hospitality Group arranged a $136 million refinancing for the Fairmont Orchid, a 540-key resort on Hawaii’s Big Island.
Commercial, Multifamily Mortgage Delinquency Rates Increase in First Quarter
Commercial mortgage delinquencies increased in the first quarter, according to the Mortgage Bankers Association’s latest Commercial Mortgage Delinquency Rates Report.
CREF Policy Update: President Trump, FHFA Director Pulte Hint Further on the GSEs’ Future; Fannie Mae Announces AI Fraud Detection Technology Partnership with Palantir
Commercial and multifamily developments and activities from MBA important to your business and our industry.
CMF Quote of the Week
“From a technology perspective, it is about education. It’s about training. It’s about teaching people how to spot fraudulent stuff that’s going on.”
–Howard Leiner, Chief Technology Officer with Arbor Realty Trust
Dealmaker: Dwight Mortgage Trust Closes Loans in California, Texas
Dwight Mortgage Trust, New York, successfully closed a $48 million construction loan for a mixed-use multifamily development in San Diego, and a $36 million bridge loan to refinance a waterfront apartment community in Corpus Christi, Texas.
The Town Hall with MBA Leadership Webinar Returns June 18
Attend the next Town Hall with MBA Leadership on June 18 to hear recent news and commentary in both the residential and commercial/multifamily arenas from Pete Mills, MBA’s Senior Vice President of Residential Policy and Strategic Industry Engagement.