Subject: Research (RES)

A total of $35.1 billion of apartment properties nationwide changed hands during the second quarter, according to Newmark. That brings volume for the year through June to $65.1 billion, up 5.3% from last year.

Capitalization rates—the yields that property investors use to determine how much to pay for properties—are estimated to have declined by 9 basis points during the first half of the year, according to a survey by CBRE.

The national average monthly cost to rent an apartment unit during the second quarter was $1,828, according to Newmark. That's $1,200 less than the median monthly home mortgage payment of $3,069.

Servicers for 1,096 CMBS loans with a balance of $54.8 billion that are classified as being in distress have had $2.1 billion of interest payments advanced against them, according to Kroll Bond Rating Agency. That's a near doubling over the ...

The 2 million-square-foot Worldwide Plaza office property in Manhattan is said to have had its appraised value slashed by more than 80% to $345 million. The appraisal reduction was first reported by Bisnow, which cited documents tied to the property's ...

Operating expenses grew by a compounded annual 4.15% during the 10 years through 2024. That, however, was offset by the 4.96% annualized growth in revenue during that time, according to analysis by Trepp Inc.

A total of $23.63 billion of CMBS loans that have matured remain outstanding. That so-called "maturity drag" has skyrocketed in recent years, as in 2019, nearly no loans had gone beyond their maturity without being resolved.

Hotels, which have recovered substantially since the Covid lockdowns, might still be falling behind in terms of capital invested in their upkeep and renovations. During the lockdowns, CapEx plunged. It's recovered, but much was deferred.

Commercial Real Estate Direct Staff Report Investment-sales volumes this year through June increased by 13% from last year to $96.9 billion. That excludes entity-level transactions, such as Blackstone's acquisition of Retail Opportunity Investments Corp. in a nearly $4 billion deal, which ...

The national average asking rent for multifamily properties increased last month by $2, to $1,754/unit, making it the seventh straight month that rents have gone up, according to Yardi Matrix. Rents are up by 0.7% since last year and have ...