Bloomberg, July 7, 2020–Breanna T. BradhamThe ongoing coronavirus pandemic, which has infected nearly 3 million Americans and killed over 130,000, has also caused millions to uproot themselves from their homes. …
Group Newslink: MBA Commercial/Multifamily NewsLink July 9
CRE Counselors: COVID-19, Economy Top Survey Concerns
The Counselors of Real Estate, Chicago, said the COVID-19 crisis will teach commercial real estate practitioners new lessons about priorities, resilience and demand.
Dealmaker: JLL Closes 20-Property Portfolio for $106M
JLL Capital Markets, Atlanta, finalized a 20-property Project-Based Section 8 portfolio sale totaling 1,763 units and $106 million across Georgia, North Carolina and South Carolina.
MBA Chart of the Week: Monthly Payroll Growth and Unemployment Rate
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.
Mall and Hotel Loans Are Blowing up Commercial Mortgage-Backed Securities
Wolf Street, July 5, 2020–Wolf RichterThe delinquency rate for Commercial Mortgage Backed Securities (CMBS) spiked by 317 basis points to 10.3% in June, after having spiked by 481 basis points …
2Q Single-Tenant Net Lease Cap Rates Diverge
Single-tenant net lease cap rates diverged by sector in the second quarter, reported Boulder Group, Wilmette, Ill.
Office Space: Pandemic Redefines Commercial Real Estate Industry
NBC Dallas-Fort Worth, July 2, 2020–Alanna QuillenAs more people work from home, what does it mean for the entire commercial real estate industry? Companies are rethinking whether they want to …
Real Estate Prices Fall in New York
New York Times, July 2, 2020–Stefanos Chen, Sydney FranklinSince the coronavirus shut the city down, the number of sales in Manhattan dropped 54 percent and the median price fell to …
Dealmaker: Bellwether Enterprise Closes $392M
Bellwether Enterprise Real Estate Capital LLC, Cleveland, closed $391.9 million in financing for industrial and manufactured housing assets across the country.
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Through the MBA Member Advantage Program, you can save up to 29 percent on small package shipping with FedEx. https://www.mba.org/members/member-resources/member-advantage-program?utm_source=Informz&utm_medium=Email&utm_campaign=mba.org&_zs=o2eVM1&_zl=I4M64