Top News
Property Prices Drop Again in April, Down 10.97 Percent from 2022 Peaks
Commercial property prices continued their downward trend, declining by 1.13 percent in April, according to the MSCI Real Assets Commercial Property Price Index. That marks the ninth straight month of declines for the index, a repeat-sales gauge. They're down 9.94...
Barclays: Office Property Pricing Could Drop by More Than 30 Percent
Prices for office properties could fall by more than 30 percent from their peaks, according to analysis by Barclays Capital. The investment bank warned that the sector could face even greater value declines, given continued high interest rates, increases in...
Equity Kickers, Often Used During the Early 1990s, Emerge as Market Challenges Increase
Equity kickers, last used during the early 1990s in the wake of the savings and loan crisis, where a lender participates in the proceeds of the sale of a property backing a distressed mortgage, might be finding their way back...
Leasing Activity in Manhattan Affecting Big Office Loans
Leasing activity in the Manhattan office market totaled 7.36 million square feet in the first quarter, nearly 10 percent less than the 10-year quarterly average of a little more than 8 million sf, according to Colliers. The lackluster leasing is...
CBRE Survey Finds Growing Percentage of Companies Prefer Return to Office
Commercial Real Estate Direct Staff Report Companies that occupy office space are increasingly requiring that their employees return to their offices, according to CBRE's Spring 2023 Office Occupier Sentiment Survey. The brokerage, which surveyed 207 companies, said that 45 percent...
$225Mln Senior Financing Against Harborside 1, 2 Buildings Pays 5.84 Percent Coupon
The $225 million of senior financing that Citigroup and Bank of Montreal had provided to help fund 601W Cos.' $377 million, or $236/sf, purchase of the Harborside 1 and 2 buildings in Jersey City, N.J., pays a coupon of 5.48...
Northwind Takes Down Senior $100Mln Chunk of Loan Against Manhattan’s Hudson Hotel
Northwind Group has acquired a senior $100 million piece of a $207 million mortgage that Parkview Financial had provided last year to help facilitate the redevelopment of the Hudson Hotel in Manhattan into a 414-unit apartment property. The New York...
Washington, D.C.’s Office Availability Rate Increases, Even as Inventory Declines
The Washington, D.C., office market had an availability rate of 21.7 percent in the first quarter - a record high - according to Savills. Meanwhile, its office inventory fell to 122.1 million sf from 124 million sf at the same...
Pacific Retail Capital Was Buyer of Bridgewater Commons
Pacific Retail Capital Partners last Friday completed its purchase of the Bridgewater Commons shopping center and its adjoining Village at Bridgewater Commons open-air retail center in northern New Jersey. The company, which assumed a $300 million CMBS loan against the...
HUD Funded Only $3Bln of Multifamily, Healthcare Loans in Fiscal 2Q
The U.S. Department of Housing and Urban Development funded only 168 loans totaling $3 billion against apartment and seniors-housing properties during its second fiscal quarter, which ended March 31. That was down 49 percent from a year ago. Likewise, Fannie...
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Commercial Real Estate Direct is the only source -- in print or otherwise -- that keeps close tabs on the entire real estate capital markets industry. It provides up-to-date market intelligence on the mortgage business, equity raising, investment sales and CMBS.
