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

The Mortgage Bankers Association announced members of its 2022 Affordable Rental Housing Advisory Council. The Advisory Councils on affordable rental housing and affordable homeownership were formed in 2019 to provide important strategic and practical guidance to MBA’s CONVERGENCE Initiative, the association’s affordable housing effort.

The Mortgage Bankers Association promoted Bruce Oliver to Vice President of Commercial and Multifamily Policy and Laura Hopkins to Vice President of Member Relations.

Sometimes overlooked whilst not as glamorous as property investing nor loan originations, servicing nonetheless serves as the backbone of the commercial/multifamily finance industry. The sector is dynamic, complex and fundamental to the broader industry’s successes or failures long after closing dinners occur on the front end of lending businesses.

Apartment rents increased nearly 13 percent nationwide over the past year--the highest rate in at least two years--but growth slowed slightly in October, reports from Redfin and RealPage said.

Gantry, San Francisco, secured $34 million to recapitalize the Wilmot Plaza destination retail center in Tucson, Ariz. for a legacy-hold operator.

Chad Musgrove is Associate Director with Lument, a subsidiary of ORIX Corporation USA. He has a decade of experience in real estate and financial services consulting.

Rabbet, Austin, Texas, released its annual 2021 Construction Payments Report, which found general contractors and subcontractors estimate that the cost of floating payments for wages and invoices represents $136 billion in excess cost to the industry, a 36 percent increase from the cost reported in 2020.

JLL Valuation Advisory hired Dennis Firestone to join its Environmental and Property Condition team as a Senior Vice President for EPC Premier Client Accounts.