Distressed Real Estate Market Beckons Opportunistic Buyers

New York Times, May 26, 2020–Joe GoseInvestment firms are sitting on “a staggering amount of dry powder” as they wait for big property discounts brought on by the pandemic.https://www.nytimes.com/2020/05/26/business/distressed-commercial-real-esate-coronavirus.html

Commercial/Multifamily Borrowing Declines Two Percent in the First Quarter of 2020

Commercial Property Executive, May 22, 2020–Jamie WoodwellMBA Vice President of Commercial/Multifamily Research breaks down first quarter CMF markets and issues a cautionary outlook.https://www.cpexecutive.com/post/commercial-multifamily-borrowing-declines-two-percent-in-the-first-quarter-of-2020/

Analysts Downgrade Hotel Forecast Again

STR and Tourism Economics once again updated their hotel sector forecast. They now expect a 57.5 percent revenue per available room decline this year and a 48 percent RevPAR increase next year.

Commercial/Multifamily Briefs

Freddie Mac, McLean, Va., priced a new offering of Structured Pass-Through K Certificates backed by fixed-rate multifamily mortgages with predominantly 10-year terms as underlying collateral.

Dealmaker: Dwight Capital Finances $45M

Dwight Capital, New York, financed $96.7 million in HUD 223(f) loans, $95.1 million in HUD 223(a)(7) loans and $35 million in bridge loans.

A ‘Competitive Furnace’ Burns Inside Willy Walker

Bisnow, May 21, 2020–Jon BanisterToday, Walker & Dunlop employs 872 people across 40 offices. The mortgage finance firm, which was the top Fannie Mae lender in the country last year, …