Steven Bradshaw, testifying on Capitol Hill yesterday on behalf of the Mortgage Bankers Association, said the National Flood Insurance Program is “unsustainable” in its current form and should be expanded to accommodate private flood insurance options.
Category: News and Trends
Net-Lease Properties: Limited Supply, Strong Demand
Cap rates for retail, office and industrial single-tenant net-lease properties declined steadily throughout 2015 as investors pursued the asset class’s stable returns, reported the Boulder Group, Northbrook, Ill.
Foreign Investors Fuel U.S. CRE Investment
Nearly two-thirds of overseas investors surveyed plan modest or major U.S. real estate investments this year despite moderate concerns about higher interest rates, the Association of Foreign Investors in Real Estate reported.
Commercial Briefs
CBRE Group, Los Angeles, acquired CBRE Memphis, a commercial real estate services firm that served as the firm’s Memphis, Tenn. affiliate since 1996.
Hotels Bookings, Openings Grow
Hotels experienced steady bookings increases in late 2015, with 21 of the top 25 markets showing committed occupancy growth, reported TravelClick, New York.
New York Sets Dollar Volume Record, But Interest Rates Raise Concern
Three of New York City’s top five quarterly dollar volume totals ever occurred this year and the $55.4 billion year-to-date total already surpasses 2007’s record high, Cushman & Wakefield reported.
MBA Chart of the Week: Net Change in Commercial/Multifamily Mortgage Debt Outstanding
Commercial and multifamily mortgage debt outstanding continued to climb in the third quarter, driven by increases in the dollar amount of loans held in bank portfolios according to MBA’s Commercial/Multifamily Real Estate Mortgage Debt Outstanding report.
Auction.com: CRE Activity Slows
Commercial real estate market activity shows signs of slowing and stabilizing after several years of run-up and appreciation, reported Auction.com, Irvine, Calif.
Fed Decision: ‘No One Got Caught Off Guard’
The Federal Reserve’s decision to raise its benchmark interest rate by a quarter percentage point will have little effect on commercial real estate, analysts said.
FHFA Releases 2016 Scorecard for Fannie Mae, Freddie Mac
The Federal Housing Finance Agency yesterday released its 2016 Scorecard outlining priorities for Fannie Mae, Freddie Mac, and their joint venture, Common Securitization Solutions LLC, saying the government-sponsored enterprises “substantially advanced” FHFA’s conservatorship strategic plan in 2015.