CBRE, Dallas, said office conversions have had a great 2024, with 73 completed and another 30 scheduled for delivery by year-end–the most since the firm began tracking conversion projects eight years ago.
Category: News and Trends
Dealmaker: Dwight Capital Finances $59.9M Loan for California Apartments
Dwight Capital, New York, closed a $59.9 million HUD 223(f) refinance for an apartment community in Davis, Calif.
CREF Policy Update: Republicans Win White House, Senate Majority
Commercial and multifamily developments and activities from MBA important to your business and our industry.
CMF Quote of the Week
“The first drop in vacant units in more than two years signals a crucial turning point in the multifamily sector. This boost will lead to increased investment activity in 2025 as improving fundamentals continue to drive investor confidence capital deployment.”
–Kelli Carhart, Leader of Multifamily Capital Markets for CBRE
Editor’s Note
Some early readers of last week’s CMF newsletter may have seen a photo that misidentified Acting Secretary of the U.S. Department of Housing and Urban Development Adrianne Todman. Newslink corrected the mistake online immediately upon learning of it. We regret the error.
CBRE: Multifamily Market Sees Vacancy Rate Decline
CBRE, Dallas, reported the U.S. multifamily market’s vacancy rate fell in the third quarter for the first time in more than two years, with renter demand outpacing new supply deliveries.
John Boehner: MBA Members Are Key Part of Lobbying Efforts
DENVER–“You’re the most important part of what the [Mortgage Bankers Association] does in D.C.,” said former Speaker of the U.S. House of Representatives John Boehner to an audience gathered at MBA’s Annual Convention & Expo Oct. 29.
How Can AI Actually Help the Mortgage Industry? Annual24 Panel Weighs In
DENVER–It’s no secret that artificial intelligence is an increasingly hot topic, and there are real applications to consider for those working in mortgage banking and related industries, said experts from Amazon Web Services and NVIDIA Corp., at MBA’s Annual Convention & Expo Oct. 29.
CoStar Finds Hotel Construction Up for Seventh Straight Month
The number of hotel rooms under construction in the U.S. increased year-over-year for the seventh consecutive month, according to CoStar, Washington, D.C.
Mohamed El-Erian: U.S. Economy in Better Shape Than Expected
DENVER–Renowned economist Mohamed El-Erian gave his thoughts on the global economic outlook during the Mortgage Bankers Association’s Annual Convention & Expo Oct. 28, noting that the U.S. economy is in a better place than anticipated, especially given recession predictions over the past few years.