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SUBSCRIBE ? Volume 5 | Issue 3 | Monday, July 12, 2010
Quarterly Data Book
First Quarter DataBook: Economy Shows 'Traction;' CRE Declines Ease
The economy showed signs of economic traction in the first quarter, with GDP and job growth both firmly positive, which in turn appears to have moderated declines in commercial real estate fundamentals, the Mortgage Bankers Association reported.
 Full Story

Economic Outlook

Loan Production

Loans Outstanding

Loan Performance

Statistical Spotlight

Commercial/Multifamily Roundup

Industry Commentary

Article Abstracts

Economic Outlook
Forecast: Unemployment, Debt Drive CRE Into 'Rocky' Recovery
High unemployment and continuing debt burdens will likely make for a bumpy recovery for cause commercial real estate, the UCLA Anderson Forecast said.
Full Story

S&P: 'Lingering' Uncertainties Hamper U.S. Structured Finance
Standard & Poor's Ratings Services, New York, said lingering economic and regulatory uncertainties are keeping a lid on U.S. structured finance issuance.
Full Story

RICS: U.S. Shows Signs CRE Recovery Signs
Latin America and Asia are still leading in commercial property transactions, but there are signs of a rebound in the United States market, said Royal Institution of Chartered Surveyors, New York.
Full Story


Loan Production
MBA: 1Q Commercial/Multifamily Mortgage Originations Increase from Year Earlier
First quarter commercial and multifamily mortgage loan originations rose by 12 percent from the same period last year, the Mortgage Bankers Association reported in its Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations.
Full Story

Investors Retain Cream-of-the-Crop Mentality
Available debt and investor interest remained focused on top-tier properties for the second quarter, a recent survey said.
Full Story

Construction, Development Lending on Hold, Reis Says
Construction and development lending will not return to the United States market until current lender caution subsides, said Reis Inc., New York.
Full Story


Loans Outstanding
MBA: Commercial/Multifamily Mortgage Debt Outstanding Down by 0.9 Percent in 1st Quarter
Commercial/multifamily mortgage debt outstanding fell in the first quarter to $3.31 trillion, according to a Mortgage Bankers Association analysis of Federal Reserve Board Flow of Funds data.
Full Story

U.S. CMBS Delinquencies, CRE CDO Losses Expose Billions
High unemployment; securitization sector difficulties and potential effects of sovereign debt problems in Europe on the U.S. economy led Moody's Investors Service, New York, to a "slightly more negative view" of the CMBS market.
Full Story

Commercial Assets Plague Banks as Failures Increase
Commercial real estate and construction loans continue to show up as a prime problem in bank failures.
Full Story


Loan Performance
MBA: Economic Weakness Continues to Weigh on Commercial Mortgage Performance
Delinquency rates continued to increase in the first quarter for all commercial/multifamily mortgage investor groups, the Mortgage Bankers Association reported.
Full Story

Realpoint: CMBS Delinquency Increases Likely Through Year-End
The 7.27 percent May delinquency rate in commercial mortgage-backed securities reflects an upward trend likely to continue for the rest of the year, said Realpoint LLC, Horsham, Pa.
Full Story

Beige Book: Lower Rents Push Up Leasing
Commercial real estate remained weak, despite some leasing increases reported around the country, the Federal Reserve's June Beige Book said.
Full Story


Statistical Spotlight
Distressed CRE at Nearly $167 Billion
Commercial real estate properties in distress, including foreclosure and lender real estate owned, is at $166.8 billion, according to analysis from Delta Associates, Washington, D.C.
Full Story

CRE Prices Rise in April
Commercial real estate property prices in the United States increased 1.7 percent in April following two months of declines, said Moody's Investors Service, New York.
Full Story

CMBS Delinquencies Add Up on Employment Conditions
Recent unemployment statistics will likely keep commercial mortgage-backed securities delinquencies rising, industry analysts said.
Full Story


Commercial/Multifamily Roundup
Survey: Hotel Markets Remain Volatile
Jones Lang LaSalle Hotels, Chicago, said its latest Hotel Investor Sentiment Survey indicates many owners remain reluctant to bring their properties to the market because of depressed values and tight debt availability.
Full Story

Retail Vacancy Outlook Mixed on Recovery
Retail vacancy rates should tick further upward during the second quarter and level off by the end of 2010, said Colliers International, Boston.
Full Story

Office Tenant Interest Low for High-Vacancy Buildings
Despite record-high vacancy rates, office landlords still have trouble finding tenants because they cannot fund market-level tenant improvement allowances and commissions, said Grubb & Ellis, New York.
Full Story


Industry Commentary
Balloon Risk Preoccupies Multifamily Servicers
NEW YORK--Balloon risk maturations will keep multifamily servicers preoccupied for not only the next few years but possibly the rest of this decade.
Full Story

For CRE Debt, It's Bottoms Up
With billions of dollars in commercial real estate debt coming due, the industry refuses to panic, sensing that the cycle's bottom is near, said DLA Piper's 2010 State of the Market Survey.
Full Story

Survey: Commercial Real Estate Stabilizing; Recovery 'Very Slow, Uneven'
Declines in commercial real estate markets and property values has begun to level off and capital is becoming somewhat more available, despite lingering uncertainty about the pace and strength of recovery, the Real Estate Roundtable reported.
Full Story

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 "As economic growth continues to gain traction, one would expect the impact on commercial real estate markets to broaden and reach through property performance to mortgage performance as well. Given the depth of the recession, there is a lot of lost ground to make up."
--The Mortgage Bankers Association's Commercial Real Estate/Multifamily Finance Data Book.
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