Gantry, San Francisco, secured $77.1 million in acquisition financing for two Arizona industrial properties.
Group Newslink: MBA Commercial/Multifamily NewsLink March 4
MBA Announces Members of Affordable Housing Advisory Councils for 2021
The Mortgage Bankers Association announced members of its advisory councils for affordable rental housing and homeownership for 2021. The advisory councils were formed in 2019 to provide important strategic and practical guidance to MBA’s CONVERGENCE Initiative, the association’s affordable housing effort.
Meet the Home-Rental Firm Turning Tenants Into Homeowners
Wall Street Journal, Mar. 2, 2021–Ryan Dezember (subscription)Most landlords hope their tenants stay put and pay rent forever. Promise Homes Co. wants its renters to move out and buy their …
Dealmaker: NorthMarq Arranges $55M for Industrial, Multifamily
NorthMarq, Minneapolis, arranged $55.2 million for industrial and multifamily assets in Ohio and Washington.
Mall Values Plunge 60% After Reappraisals Triggered by Bad Debt
Bloomberg, Mar. 1, 2021–John GittelsohnU.S. mall values plunged an average 60% after appraisals in 2020, a sign of more pain to come for retail properties even as the economy emerges …
Commercial Property Prices Grow Again in January
U.S. commercial property prices grew again in January, sector analysts reported.
Millions of Tenants Fall Further Behind on Rent as They Await Federal COVID-19 Assistance
Wall Street Journal, March 1, 2021–Andrew Ackerman and Will Parker (subscription)Many states have yet to distribute $25 billion they received from the Treasury Department to help renters.https://www.wsj.com/articles/millions-of-tenants-fall-further-behind-on-rent-as-they-await-federal-covid-19-assistance-11614594602?
Offices Can Glimpse Their Future at the Mall
Wall Street Journal, March 1, 2021–Carol Ryan (subscription)How will office valuations be affected by the decline of the five-day commute? Shopping malls could provide some answers.https://www.wsj.com/articles/office-can-glimpse-their-future-at-the-mall-11614599358?
Single-Family Landlord Sees No End to Demand for Suburban Homes
Bloomberg, Feb. 26, 2021–Patrick ClarkSurging demand for houses to buy has made inventory scarce and pushed prices higher, making it harder for Americans to find affordable properties. That’s fueling demand …
CRE Executives Cite Economic Cycle as Top Concern
Shuttered and restaurants and well-meant extension of tenant and borrower protections rank as real estate executives’ top concerns, reported law firm Seyfarth, Chicago.