Commercial and multifamily developments and activities from MBA important to your business and our industry.
Category: News and Trends
RealPage: Apartment Occupancy by Type Returning to Pre-Pandemic Norms
RealPage, Richardson, Texas, reported occupancy among unit types is rebounding to pre-COVID patterns. Specifically, three-bedroom unit occupancy–which hit record highs in 2021 and 2022–is softening.
Berkadia: Student Housing Fundamentals Still Strong, but Sales Environment Weaker
Berkadia, New York, released its 2024 U.S. Student Housing Market Report, finding student housing sales for 2023 fell 43% from 2022.
MBA NewsLink Q&A With Rice Park Capital Management’s Nick Smith and Chris Bixby
MBA NewsLink recently interviewed Nick Smith, Founder, Managing Partner and CEO of Rice Park Capital Management, Plymouth, Minn., and Managing Director of Strategic Equity Investing Chris Bixby about their perspectives on the mortgage industry.
MBA Opposes FFB Risk Sharing Program Extension; Calls on HUD to Address High Fees
MBA President and CEO Bob Broeksmit, CMB, released the following statement on the Biden administration’s housing announcements last week, which include extending indefinitely the Federal Housing Administration (FHA) and Federal Financing Bank (FFB) Risk Sharing program:
Seyfarth Shaw: CRE Industry Optimistic for 2024
Seyfarth Shaw, Chicago, released its Real Estate Market Sentiment Survey, finding 83% of commercial real estate executives have a buoyant outlook for the sector this year.
Dealmaker: X-Caliber Funding, CastleGreen Finance Complete $122M Refinance for Fairmont Breakers Long Beach Hotel
X-Caliber Funding and CastleGreen Finance, an X-Caliber affiliate that provides capital through Commercial Property Assessed Clean Energy financing, provided $122 million to refinance Long Beach, California’s Fairmont Breakers Hotel & Spa.
CMF Quote of the Week: Feb. 29, 2024
“The U.S. economy had stronger than expected growth in 2023, specifically in Q4, with a 3.3% growth rate, and that’s going to give us some momentum going into 2024.”
–Joel Kan, Vice President and Deputy Chief Economist with the Mortgage Bankers Association
Commercial Property Prices Slip at Slower Rate in January
Real Capital Analytics, New York, reported the annual rate of decline in U.S. commercial property prices slowed in early 2024.
MBA Creates Member Guide Ahead of Partial Government Shutdown Possibility
As of this writing, the federal government is on the brink of a partial shutdown with the first deadline of the current two-tiered Continuing Resolution rapidly approaching. Congressional leaders on Wednesday evening agreed to extend the current agreement for a short time–until March 8 for some federal departments and March 22 for others.