MBA Letters Oppose Proposed New York Mezzanine Debt/Preferred Equity Tax, Support Like-Kind Exchanges
The Mortgage Bankers Association weighed in to oppose a proposed New York tax and recording requirement for mezzanine debt and preferred equity and to support like-kind exchanges.
CREF Policy Update March 25, 2021
Commercial and multifamily developments and activities from MBA relevant to your business and our industry.
MBA, Other Groups Urge Support of Housing Supply & Affordability Act
The Mortgage Bankers Association and a broad coalition of more than 100 national and regional trade associations and community support groups urged Congress to pass S. 5061, the Housing Supply and Affordability Act, a bipartisan bill that would authorize $1.5 billion over five years for federal grants to local governments that commit to increase their supply of local housing.
Push to Preserve Small Rental Buildings During a Pandemic
The pandemic has disproportionately affected renters who live in small, unsubsidized multifamily buildings, which makes it more important than ever to preserve these buildings, said the Urban Institute, Washington, D.C.
JLL: Real Estate Going Electric
Commercial real estate releases carbon emissions from natural gas boilers, diesel back-up generators and other sources, but JLL, Chicago, said efforts are growing to power buildings entirely by electricity.
Apartment Investment Environment Remains Positive
Freddie Mac, McLean, Va., said its Apartment Investment Market Index remained positive in the fourth quarter despite contractions in several major metros.
KBRA: Review Those Remittance Reports
Kroll Bond Rating Agency, New York, said higher commercial mortgage-backed securities special servicing volume and modifications increase the risk of operational errors or inconsistencies in servicer and trustee reporting.
Dealmaker: JLL Secures $393M for Life Sciences Facility
JLL Capital Markets, Chicago, arranged a $393 million construction financing to redevelop 125 West End Ave. in Manhattan into a life sciences facility.
Low-Income Renters Not Seeing Pandemic Savings
Rent growth has slowed during the pandemic, seemingly a boost for rent affordability. But more expensive areas tended to soften the most, giving little respite to renters in lower-priced areas, reported Zillow, Seattle.
