More than 20,000 units in older office and other commercial buildings will be converted to apartments this year, reported RentCafe, Santa Barbara, Calif.
Category: News and Trends
Industry Briefs Oct. 8, 2021: Homebuyers’ Average Monthly Mortgage Payment Jumps
Redfin, Seattle, said the average homebuyer’s monthly mortgage payment rose $50 over the past six weeks. At the same time, sellers’ median asking price increased 12% year over year to a record high.
Dealmaker: Berkadia Secures $81M for Multifamily Assets
Berkadia’s Atlanta and St. Louis offices secured $81 million for three apartment properties in Georgia and Alabama.
ESG and its Impacts on CRE
Environmental, Social and Governance criteria is an investment strategy focused on making the world a better place. This is not a new idea; versions of sustainable investing trends have emerged in the past. But the explosive growth and rapidly increasing capital allocation toward “ESG” friendly assets is unprecedented.
Kevin Peranio of AXIS Lending Academy: And The American Dream for All
Kevin Peranio is a director of AXIS Lending Academy. He is also the chief lending officer for PRMG, one of the nation’s largest mortgage lenders, where he oversees all loan production.
MISMO Issues Call for Participants for New Workgroup Focused on Automating Homeowner Insurance Requests
MISMO®, the real estate finance industry standards organization, seeks participants for an initiative focused on automating homeowner insurance requests.
Authors Malcolm Gladwell, Brad Meltzer Keynote MBA Annual Convention & Expo
Registration for the Mortgage Bankers Association’s Annual Convention & Expo, taking place Oct. 17-20 at the San Diego Convention Center, is open. Join MBA in San Diego as New York Times best-selling authors Malcolm Gladwell and Brad Meltzer keynote General Sessions.
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“Until last decade, old hotels were all the rage in adaptive reuse due, in part, to their existing floorplans and utilities that were already fit for residential use. However, consistent urban demand and increased preference for open-plan layouts and out-of-the-box designs revealed the housing potential in non-residential buildings.”
–Alexandra Ciuntu, Researcher with RentCafe, Santa Barbara, Calif.
People in the News Oct. 8, 2021
Equity National Title, Providence, R.I., named Jennifer Pensa Chief Operating Officer. She will manage day-to-day operations of the business, managing and strategically optimizing systems, technology and production processes.
Student Housing Trends: A Q&A with JLL
MBA NewsLink interviewed JLL Capital Markets Senior Director Teddy Leatherman and JLL Valuation Advisory Senior Vice President Kai Pan about the current state of the student housing market and what might be in store for the sector.