MBA’s President and CEO Bob Broeksmit, CMB, released a statement on the Biden administration’s announcements on housing at the State of the Union address.
Category: News and Trends
CBRE: North American Data Center Pricing, Supply Remain Strong in Primary Markets
CBRE, Dallas, found the primary market supply for data centers in North America grew 26% year-over-year in 2023.
CRED iQ: Multifamily Distress Rate Up 80 Basis Points in February
CRED iQ, Wayne, Pa., reported the Distress Rate for all property types trimmed 4 basis points in February to 7.35%. However, the multifamily distress rate was up 80 basis points–the largest monthly increase in that sector in more than a year and a half.
HUD Secretary Marcia L. Fudge to Resign March 22
Marcia L. Fudge, the 18th Secretary of the U.S. Department of Housing and Urban Development, announced she will resign effective March 22, 2024.
Dealmaker: Gantry Secures $28 Million to Refinance Medical Office Building in the Los Angeles Area
Gantry, San Francisco, secured a $28 million permanent loan to refinance the Torrance Memorial Lundquist-Lurie Cardiovascular Center in Torrance, Calif.
Permits for Homes Fell in 2023, Point2 Reports
Point2, Saskatoon, Saskatchewan, released its Housing Construction Report for the U.S., finding that 70% of U.S. metros experienced declines in permitting in 2023.
CMF Quote of the Week: March 14, 2024
“Thanks to Secretary Fudge, we’ve helped first-time homebuyers, and we are working to cut the cost of renting. And there are more housing units under construction right now than at any time in the last 50 years.”
–President Joe Biden on the retirement of Marcia L. Fudge, Secretary of the U.S. Department of Housing and Urban Development
CREF Policy Update March 14: SEC Finalizes Climate-Related Disclosure Rules; Scope 3 Excluded
Commercial and multifamily developments and activities from MBA important to your business and our industry.
Office Sector Drives CMBS Delinquency Rate Up Slightly: Trepp
The delinquency rate for commercial mortgage-backed securities inched upward in February, according to Trepp, New York.
CMF Quote of the Week: March 7, 2024
“MBA and its members are active participants in policy conversations and market developments on climate risk, extreme weather impacts, and ESG investing at the federal and state levels.”
–MBA President and CEO Bob Broeksmit, CMB