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Big Buildings Hurt the Climate. New York City Hopes to Change That
New York Times, Apr. 17, 2019--William NeumanNew York City is about to embark on an ambitious plan to fight climate change that would force thousands of large buildings such as the Empire State Building and Trump Tower to sharply reduce their greenhouse gas emissions.
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Private Equity Cash Turns Off Some Clients, Mutual Fund CEO Says
Bloomberg, April 22, 2019--John GittelsohnInstitutional investors are starting to turn away from private equity real estate and infrastructure investments in favor of liquid funds that put their money to work faster, according to the head of a firm that offers such products.
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CMBS Market Update
Commercial Property Executive, Apr. 24, 2019--Jeffrey SteeleHow will CMBS origination stack up this year? After the first several months of 2019, signs continue to point to a significant decline in volume, though some observers contend the reduction could be less severe than expected. (MBA mention)
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Inside Destiny USA’s Mortgage Emergency: Crisis or Hardball Bargaining?
Syracuse.com (N.Y.), Apr. 19, 2019--Rick MoriartyDestiny USA's D-Day arrives June 6. On that day, its $430 million in mortgage loans come due in full, and the owner of the giant Syracuse mall is in danger of default.
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Proptech Advancements May Be a Game-Changer for Commercial Real Estate
Urban Land magazine, Apr. 18, 2019--Patrick KigerA new generation of property technology software platforms can do everything from monitoring buildings' energy and water use in real time to providing tenant workforces with on-site access to medical treatment and other quality-of-life-enhancing services.
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CRE, Multifamily Lenders Close Record $574 Billion in Loans During 2018
HousingWire, April 18, 2019--Caroline BasileThe multifamily and commercial real estate lending business is booming. Lenders in the space closed a record $573.9 billion in loans in 2018, the Mortgage Bankers Association reported. Loans averaged $19 million.
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News and Trends
CREF Highlights
Commercial and multifamily developments and activities from MBA relevant to your business and our industry.
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Multifamily Sector Showing Stability
"Steady as she goes" could be the multifamily sector's mantra. Analysts report stable apartment vacancy and rent growth rates in the first quarter.
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Office Vacancies Drop Ahead of Expected Supply Wave
The office market remains broadly in an "expansionary" mode, with tenants driving 14 million square feet of net absorption in the first quarter, reported JLL, Chicago.
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CMBS Supply-Demand Fundamentals Steady; Special Servicing Falls
Commercial property market supply and demand fundamentals remained stable in late 2018, Moody's Investors Service reported.
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Commercial/Multifamily Briefs
Freddie Mac, McLean, Va., closed a Low-Income Housing Tax Credit fund with nonprofit equity syndicator CAHEC, Raleigh, N.C., and initiated several investments within the fund.
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