This week in Washington, ongoing COVID-19 relief discussions have reached the commercial real estate borrowing community and their financiers in earnest.
Commercial and multifamily developments and activities from MBA relevant to your business and our industry.
Daniel F. Mulvihill, Chairman Emeritus of Pacific Southwest Mortgage, San Diego, and former Treasurer of the Mortgage Bankers Association whose pioneering work with MBA helped make the annual CREF Convention & Expo one of the industry’s major commercial real estate conferences, died on July 1. He was 93.
Bellwether Enterprise Real Estate Capital LLC, Cleveland, closed $391.9 million in financing for industrial and manufactured housing assets across the country.
NorthMarq announced its long-time leader Craig Butchenhart passed away surrounded by family on June 25, 2020.
The economy added a record 4.8 million jobs to nonfarm payrolls in June, bringing the cumulative increase in May and June to one-third of the sharp decreases in March and April. Similarly, the June unemployment rate, at 11.1%, was down 3.6% from its high in April, and labor force participation jumped by 0.7% to 61.5% (1.9% below its pre-coronavirus level in February). However, we are not yet out of the woods.
The Counselors of Real Estate, Chicago, said the COVID-19 crisis will teach commercial real estate practitioners new lessons about priorities, resilience and demand.
Single-tenant net lease cap rates diverged by sector in the second quarter, reported Boulder Group, Wilmette, Ill.
The Mortgage Bankers Association’s Commercial Real Estate/Multifamily Finance Board of Governors (COMBOG) nominating committee is soliciting MBA members’ recommendations for individuals to serve on the Board beginning in October.
Walker & Dunlop launched a paid summer internship program for high school and college students from diverse backgrounds in partnership with Project Destined, REPLI and REIRail.