The Mortgage Bankers Association released its updated baseline forecast Thursday, projecting total commercial and multifamily mortgage borrowing and lending to fall to $700 billion this year, a 5 percent decline from an expected 2022 total of $740 billion.
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Freddie Mac, McLean, Va., said the multifamily market will likely continue to cool off this year.
Commercial property market supply and demand fundamentals slipped in the third quarter, reported Moody's Investors Service, New York.
Colliers International, Toronto, said the U.S. office market is stabilizing following two-plus years of pandemic-driven correction, but noted “considerable debate and speculation” about its future.
The e-commerce boom that started in 2020 is still propelling the U.S. industrial market, reported Yardi Matrix, Santa Barbara, Calif.
Gantry, San Francisco, secured a $19.5 million permanent loan to refinance Esquire Plaza, a 22-story office tower in Sacramento, Calif.