DLA Piper, London, released findings from its 2024 Global Real Estate State of the Market Survey, noting commercial real estate industry leaders are conveying measured optimism, after a few years of intense swings.
Category: News and Trends
Commercial and Multifamily People in the News, May 16, 2024
Industry personnel news from Greystone and JLL.
Commercial/Multifamily Borrowing Unchanged in First Quarter of 2024
Commercial and multifamily mortgage loan originations were essentially unchanged in the first quarter of 2024 compared to a year ago, and decreased 23% from the fourth quarter of 2023, according to the Mortgage Bankers Association’s (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations.
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CMF Quote of the Week: May 9, 2024
“[Multifamily] absorption has remained surprisingly resilient despite the record deliveries over the last few quarters.”
–Kelli Carhart, leader of Multifamily Capital Markets for CBRE
RentCafe: Adaptive Reuse Projects Increase, With Hotels Popular in 2023
RentCafe, Santa Barbara, Calif., found adaptive reuse projects grew last year. There were 17.6% more apartments converted from outdated buildings in 2023 compared with 2022.
MBA, Other Housing Trade Groups Applaud Launch of Bipartisan Congressional Real Estate Caucus
A number of groups thank Reps. Mark Alford (R-Mo.), J. Luis Correa (D-Calif.), Tracey Mann (R-Kan.), and Brittany Pettersen (D-Colo.) for launching the Bipartisan Congressional Real Estate Caucus.
Jobs Report: U.S. Economy Adds 175,000 in April
Total nonfarm payroll employment increased by 175,000 in April, per the Bureau of Labor Statistics.
Dealmaker: Greystone Provides $20.2M Freddie Mac Loan for Philadelphia Property
Greystone, New York, provided a $20.2 million Freddie Mac Optigo loan to refinance a construction loan for a multifamily property in Philadelphia.
CREF Policy Update May 9: COMBOG Chair Testifies on Health of CRE Market; Identifies Regulatory Barriers
Commercial and multifamily developments and activities from MBA important to your business and our industry.