The Lede
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The State of the Debt Market for Commercial Real Estate
Real Estate Weekly, Oct. 5, 2017--Steven Kohn2017 continues to be a great year to be a borrower, Cushman & Wakefield Vice Chairman Steven Kohn said. "Financing is readily available at virtually all leverage levels at attractive pricing."
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Renters Think the Housing Market is Finally Loosening Up…
CNBC, Oct. 10, 2017--Diana OlickThe Mortgage Bankers Association reported credit availability increased in September.
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Manhattan Office Leasing Jumps on Financial-Sector Hiring
Wall Street Journal, Oct. 8, 2017--Keiko Morris (subscription)Manhattan office leasing kicked into high gear in the third quarter as financial services jobs surpassed prerecession levels in August, but new construction kept rental increases low, according to new statistics released by real estate services firm JLL.
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Why Commercial Real Estate Lending by Big Apple’s Home-Grown Banks Is Down
National Real Estate Investor, Oct. 5, 2017--Ely RazinWhy are these Big Apple lenders cutting back on their commercial real estate financing activity?
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Investors Look for Bargains in Undervalued Markets
National Real Estate Investor, Oct. 4, 2017--Beth Mattson-TeigProperty values have surged steadily higher in the prolonged recovery. But that high tide isn't raising all boats as some metros are still falling short of 2007 pricing.
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Predicting the Death of the Mall, One J.C. Penney at a Time
Bloomberg, Oct. 11, 2017--Rachel Evans, Claire BostonData analysis firm System2 identified an additional 197 J.C. Penney stores at risk of closing after the embattled retailer announced plans to shutter as many as 140 shops. System2 LLC said the outlets--from San Bernardino, Calif. to an Omaha, Neb. suburb--have a 64-plus percent likelihood of closing.
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Institutional Investors Develop Bigger Appetite for Debt Funds
National Real Estate Investor, Oct. 11, 2017--Beth Mattson-TeigCapital flowing into private equity debt funds has been steadily rising for the past three years.
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CREF Highlights
Commercial and multifamily developments and activities relevant to your business and our industry.
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Commercial Briefs
Pillar Financial, New York, received approval as a Fannie Mae Seniors Housing Lender through the GSE's Delegated Underwriting and Servicing program.
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Avison Young: CRE Slows But ‘Robust’ Deal Flow Remains
U.S. commercial real estate in first-half 2017 lagged slightly compared to one year ago, reported Avison Young, Toronto.
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3Q Single-Tenant Net Lease Cap Rates Decrease
Single-tenant net lease sector cap rates decreased for the first time across all asset classes in the third quarter, reported Boulder Group, Northbrook, Ill.
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Apartment Rent Growth Stable; Occupancy Remains Tight
U.S. apartment rents saw flat rent growth in September but moderate third-quarter growth, said RealPage, Richardson, Texas, and Yardi Matrix, Santa Barbara, Calif.
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Stability–But Caution–in Hotel Sector
The hotel sector continues to display stability, "but with a dose of caution regarding future growth," said US Realty Consultants, Columbus, Ohio.
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September CMBS Delinquency Rate Drops Again
The commercial mortgage-backed securities delinquency rate fell again in September--the third straight month--reported Trepp LLC, New York.
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Renting vs. Buying: The Roommate Factor
Trulia, San Francisco, notes it's a better deal to buy than rent in America's largest housing markets--and for much of that time it hasn't been close. But does the equation change for renters who share their rent with a roommate? The answer: it depends a lot on where you live.
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