The Lede
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Deutsche Bank Was The Top Dog Among NYC Lenders in Q2
The Real Deal New York, Sept. 19, 2017--Konrad PutzierNine months after agreeing to a $7.2 billion settlement with U.S. regulators, Deutsche Bank is on top of the New York City real estate lending world.
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Toys ‘R’ Us Shows Real Estate Can’t Save Retailers
Bloomberg, Sept. 19, 2017--Lisa AbramowiczThe company has sought to prop up its failing business model for years by shuffling debt around and adding leverage to less-encumbered assets. This has undermined the extra safety and value that the real estate should have provided.
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Empowering Women in Real Estate Finance
Mortgage Women Magazine, September 2017--Marcia DaviesMBA COO Marcia Davies says creating a space for women to advance and providing tools so they can reach their full potential must be a collective goal of the real estate finance industry.
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The Fed, a Decade After the Crisis, Is About to Embark on the Great Unwinding
Wall Street Journal, Sept. 18, 2017--Nick Timiraos (subscription)The Federal Reserve resorted to a series of shock-and-awe stimulus campaigns to stabilize the economy after the financial crisis. Now the Fed is preparing the final move to unwind its support--and it wants to be as boring as possible.
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Federal Reserve Expected to Hold US Interest Rates Steady
Voice of America, Sept. 18, 2017--Jim RandleU.S. central bank leaders are expected to hold the key interest rate steady this week, but they may begin trimming a huge bond-buying program that was intended to boost economic growth.
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Equifax Hack: The Real Estate Industry Is Just As Vulnerable
Forbes, Sept. 15, 2017--Lara O'KeefeLast week's Equifax data breach shed light once again on the possible ramifications of hacks in the commercial real estate industry if companies do not invest in cybersecurity tech.
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Treasury Secretary Mnuchin: Fannie, Freddie Reform a 2018 Issue
HousingWire, Sept. 15, 2017--Kelsey RamirezMnuchin said moving Fannie Mae and Freddie Mac out of conservatorship will come after tax reform, and will be an issue brought up in 2018. He said the mortgage giants still have a lot of changes they need to make before being moved out of conservatorship.
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U.S. Retail Sales Fall After Weaker Results in Prior Months
Bloomberg, Sept. 15, 2017--Sho ChandraAn unexpected decline in August retail sales and downward revisions to the prior two months mainly reflected weaker results at auto dealerships, Commerce Department figures showed Friday.
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San Francisco Edges Out Washington to Become the Highest-Income Big U.S. Metro Area
Wall Street Journal, Sept. 14, 2017--Ben Leubsdorf, Paul Overberg (subscription)The technology hub of San Francisco surpassed the nation's capital last year as the highest-earning large U.S. metropolitan area. Median household income in the San Francisco metro area in 2016 was $96,667, just ahead of the $95,843 figure for the Washington region, the Census Bureau announced Thursday.
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Irma-Related Damage Could Affect Billions of Dollars in CMBS
National Mortgage News, Sept. 14, 2017--Elina Tarkazikis (subscription)Damage from Hurricane Irma could affect some $26.6 billion in commercial mortgage-backed securities, according to Morningstar Credit Ratings.
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Manhattan’s Eager Renters Can’t Make a Dent in Apartment Supply
Bloomberg, Sept. 14, 2017--Oshrat CarmielRenters signed 7,061 new leases in August, the most for any month in data going back to January 2008, according to a report Thursday by appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate. Despite all those deals, vacancies climbed to 2.27 percent from 2.14 percent a year earlier, the first annual increase since February.
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Unusually Large Loans Mask Decline In NYC Commercial Real Estate Lending
Forbes, Sept. 20, 2017--Ely Razin Second quarter commercial real estate loan originations in New York City weren't just big, they were really, really big. The size of those loans appears to be masking what would otherwise look like a decline in New York loan origination for the quarter.
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Dealmaker of the Week
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News and Trends
CMBS Issuance, Spreads Increase
Private-label commercial mortgage-backed securities issuance volume remained strong through August with $9.9 billion priced, reported Kroll Bond Rating Agency, New York.
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Commercial/Multifamily Briefs
Fannie Mae, Washington, D.C., priced its ninth Multifamily Delegated Underwriting and Servicing Real Estate Mortgage Investment Conduit of 2017 under its Fannie Mae Guaranteed Multifamily Structures program on September 14. It totaled $772.5 million.
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Situs RERC: Opportunities in Dallas, Seattle, San Francisco
Dallas, Seattle and San Francisco offer commercial real estate investors the best opportunities among large markets from a relative value vs. price perspective, reported Situs RERC, Houston.
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Senate Confirms Patenaude as HUD Deputy Secretary
The Senate yesterday confirmed President Trump's nomination of Pamela Patenaude to serve as Deputy Secretary of HUD.
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Hotel Sector Pipeline Increases
There are currently nearly 600,000 hotel rooms under contract to be built in the United States--up 8.8 percent compared to a year ago--reported STR, Hendersonville, Tenn.
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CMBS Issuance, Spreads Increase
Private-label commercial mortgage-backed securities issuance volume remained strong through August with $9.9 billion priced, reported Kroll Bond Rating Agency, New York.
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CMBS Issuance, Spreads Increase
Private-label commercial mortgage-backed securities issuance volume remained strong through August with $9.9 billion priced, reported Kroll Bond Rating Agency, New York.
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Expectations for Institutional Returns Slip
Institutional investors expect commercial real estate returns to slip over the next year, the Pension Real Estate Association's Consensus Forecast survey said.
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Expectations for Institutional Returns Slip
Institutional investors expect commercial real estate returns to slip over the next year, the Pension Real Estate Association's Consensus Forecast survey said.
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Expectations for Institutional Returns Slip
Institutional investors expect commercial real estate returns to slip over the next year, the Pension Real Estate Association's Consensus Forecast survey said.
Full Story