The Lede

Wall Street Journal, Sept. 10, 2019--Keiko Morris (subscription)Amazon agreed to take space in a first-of-its-kind three-story warehouse, a new type of distribution center that could reduce delivery times in congested cities to hours rather than days. While common in densely populated Asian and European cities, modern warehouses with multiple floors have been absent until recently in the U.S., where higher land and construction costs deterred developers.

National Mortgage News, Sept. 10, 2019--Bonnie Sinnock (subscription)Lower interest rates are expected to drive financing secured by income-producing properties to new heights by year-end, according to the Mortgage Bankers Association.

Wall Street Journal, Sept. 10, 2019--Esther Fung (subscription)A nearly decade-long rally for the hotel business is showing signs of petering out. Hotel owners in large cities say they are getting squeezed by weaker business-traveler demand, higher labor costs and a crush of new hotel projects that is weighing on room rates.

Urban Land magazine, Sept. 9, 2019--Kirk Sikes, Evan Mitchell, Sommer HeymanIn commercial real estate, we are rewarded for staying ahead of the curve and identifying opportunities that others miss. If we refuse to acknowledge the competitive advantage that diversity offers in our pursuit of returns, we are willingly accepting lower yields and additional risk.

Forbes, Sept. 5, 2019--Blake JanoverAlthough apartment loans are available for many, due to lack of product education, there simply isn't enough adoption in secondary and tertiary markets as folks continue to rely on local banking relationships as their primary source of senior debt for multifamily financing.

Wall Street Journal, Sept. 10, 2019--Craig Karmin, Konrad Putzier (subscription)A Chinese insurer has agreed to sell a luxury hotel portfolio for more than $5.8 billion. Mirae Asset Global Investments, part of a South Korean financial services company, agreed this week to buy the 15-hotel portfolio from Anbang Insurance Group Co.

Commercial and multifamily developments and activities from MBA relevant to your business and our industry.

The Mortgage Bankers Association released its mid-year rankings of commercial and multifamily mortgage servicers' volumes as of June 30, showing Wells Fargo Bank NA, PNC Real Estate/Midland Loan Services, KeyBank NA, Berkadia Commercial Mortgage LLC and CBRE Loan Services with highest volumes.

The commercial mortgage-backed securities delinquency rate fell again in August, setting another post-crisis low in the process, reported Trepp LLC, New York.

An expected slowdown in the nation's economy has CBRE Hotels Research lowering its outlook for the lodging sector.

The changing retail landscape will create new winners and losers, and retailers and landlords who understand consumer expectations will be more successful, said JLL, Chicago.

Private mortgage lender BridgeCore Capital, Beverly Hills, Calif., expanded its commercial loan program to include a complementary second mortgage/mezzanine loan product for borrowers seeking short-term bridge financing on commercial properties.

Dodge Data & Analytics, New York, reported commercial and multifamily construction start volume totaled $101.4 billion during first-half 2019, down 6 percent from $107.4 billion in 2018's first half.