The Lede
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Joe Fallon Vows to ‘Aggressively’ Rebuild Capital Markets Team as New Cushman Chief in Boston
Boston Business Journal, Oct. 9, 2015--Carlock, Catherine Joe Fallon, formerly of DTZ, Cassidy Turley and FHO Partners, has been tapped by Cushman & Wakefield to lead its New England region. Fallon said rebuilding the capital markets team will be a priority.
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GE to Sell Commercial Lending, Leasing Businesses to Wells Fargo
Wall Street Journal, Oct. 13, 2015--Mann, Ted; Glazer, Emily
General Electric Co. agreed to sell a major chunk of its U.S. commercial lending business to Wells Fargo & Co., a milestone in the company's rapid exit from financial services that could allow it to shed a tough regulatory regime.
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CMBS Delinquencies Fell from August to September: Fitch
Mortgage Servicing News, Oct. 13, 2015--Peters, Andy
The commercial mortgage-backed securities delinquency rate fell from August to September, according to Fitch Ratings.
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Need to Store That? Booming Self-Storage Industry Says No Problem
Wall Street Journal, Oct. 13, 2015--Pleven, LiamBusiness is booming for companies that lease out storage units to consumers. Rents are rising, most units are occupied and competition is tame due to limited new construction in the wake of the financial crisis.
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How Banks Help Rich Clients Invest in Vegas Hotel, NYC Tower
Bloomberg, Oct. 13, 2015--Gopal, Prashant; Collins, Margaret
What does Manhattan's tallest residential tower have in common with the Hooters hotel-casino in Las Vegas? They're investments for rich families.
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Posh Tower Proposed for Struggling New York Neighborhood: Central Park South
Wall Street Journal, Oct. 13, 2015--Brown, Eliot
If developer Steven Witkoff's ambitions are realized, he will complete by 2020 a soaring 900-foot condominium tower that would be the latest addition to the "Billionaires' Row" of ultraluxury skyscrapers on the southern edge of New York's Central Park.
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Dealmaker of the Week
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News and Trends
Avison Young: Healthy CRE Capital Flows
Capital keeps flowing into commercial real estate at a healthy pace against a backdrop of global economic uncertainty and potential future interest rate hikes, reported Avison Young, Toronto.
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Inflation-Adjusted Prices Top Pre-Crisis Peak for First Time
Property prices increased again in August, pushing both apartments and commercial property prices over their pre-crisis peaks, reported Moody's Investors Service and Real Capital Analytics.
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C&W, CBRE: Office Demand Still Strong
Demand for U.S. office space remained strong in the third quarter despite recent global volatility, sector analysts said.
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Freddie Mac: Robust Multifamily Streak to Continue
The multifamily market should continue its robust growth streak for several more years, said Freddie Mac Multifamily, McLean, Va.
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Small Business Job Growth Altering CRE
Commercial real estate increasingly focuses on the needs of firms employing fewer than 50 people because their job growth outpaces larger firms nearly five to one, a new CRE trends report said.
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