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SUBSCRIBE ? Volume 5 | Issue 4 | Monday, October 11, 2010
Quarterly Data Book
MBA Data Book: Commercial/MultifamilyFundamentals Show Firmer Stabilization in Second Quarter
The Mortgage Bankers Association's Commercial Real Estate/Multifamily Finance Quarterly Data Book for the second quarter shows commercial real estate fundamentals began showing signs of a firmer stabilization, as businesses eased job cuts and started to hire, consumers began to re-open their pocketbooks and households increasingly looked to rent rather than own their homes.
 Full Story

Economic Outlook

Loan Production

Loans Outstanding

Loan Performance

Statistical Spotlight

Commercial/Multifamily Roundup

Industry Commentary

Article Abstracts

Economic Outlook
MBA Economic Commentary: Slow Growth Ahead
Data from the past month leave no doubt that economic growth has slowed to a snail's pace.
Full Story

Economic Slowdown Creates Fundamental Uncertainties
While slow economic growth appears nearly certain next year, its impact on commercial real estate fundamentals remains a question.
Full Story

Beige Book: Economic Uncertainty Stalls CRE Growth
Several Federal Reserve districts reported tighter lending, particularly for commercial real estate loans, as economic uncertainty remained a theme in the Fed's September Beige Book.
Full Story


Loan Production
MBA: Second Quarter Commercial/Multifamily Mortgage Originations Up from First Quarter; Flat from Last Year
Second quarter commercial and multifamily mortgage loan originations were 1 percent higher than during the same period last year and 35 percent higher than during the first quarter of this year, according to the Mortgage Bankers Association's Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations.
Full Story

RCA: U.S. Property Sales Up in Third Quarter
The United States had its highest commercial property sales activity during the third quarter than any quarter in the past two years, said Real Capital Analytics, New York.
Full Story

Second, Third-Tier Markets Earning Investor Interest?
Investor interest in second- and third-tier markets and smaller scaled properties could be increasing, based on a report from CoStar Group, Bethesda, Md.
Full Story


Loans Outstanding
MBA: Commercial/Multifamily Mortgage Debt Outstanding Declined by 1.6 Percent in 2Q 2010
Commercial/multifamily mortgage debt outstanding decreased in the second quarter to $3.24 trillion, the Mortgage Bankers Association reported.
Full Story

CMBS Loan Extensions Wait Out Economic Recovery
Special servicers extended nearly 35 percent of commercial mortgage-backed securties loans scheduled to mature this year and 2011 out into 2012 and beyond, said J.P. Morgan Securities, New York.
Full Story

Large, Distressed Loans Float Forward
Despite $30 billion in loan resolutions and restructurings during the first half of this year, it is not high enough to completely offset additions to distressed assets, said Real Capital Analytics, New York.
Full Story


Loan Performance
MBA: Commercial Delinquencies Up for CMBS, Flat For Banks in Second Quarter
Delinquency rates proved mixed in the second quarter for commercial/multifamily mortgage investor groups, the Mortgage Bankers Association reported in its Commercial/Multifamily Delinquency Report.
Full Story

CMBS Delinquencies Above 9 Percent First Time Ever
U.S. commercial mortgage-backed securities delinquencies increased to a record high 9.05 percent at the end of September, said Trepp LLC, New York.
Full Story

Fitch: September CMBS Special Servicing Transfers Top $1.2 Billion
Fitch Ratings, New York, reported more than $1.2 billion in special servicing transfers from September 9 to September 16 with balances higher than $20 million.
Full Story


Statistical Spotlight
U.S. CRE Property Price Declines Continue in July
Commercial real estate prices in the United States fell by more than 3 percent for the second consecutive month, reported Moody's Investors Service, New York.
Full Story

Highline: Smaller Institutions at 'Extreme Risk of Failure'
Nearly 260 financial institutions with $125 billion in combined assets are at "an extreme risk of failure," said Highline Financial, New York.
Full Story

Larger CRE Property Prices Fall Harder than Small, Report Says
From peak to current trough, large property prices declined nearly 15 percent more than small cap commercial real estate prices, a report said.
Full Story


Commercial/Multifamily Roundup
Improved Debt, Weak Fundamentals Favor Core Properties
Ailing fundamentals and an improved lending environment kept investors focused on core assets and proven markets, said third quarter findings from PricewaterhouseCoopers, New York.
Full Story

Apartment, Office Forecasts Teeter on Job Growth
As apartment vacancy rates drop, office vacancies will increase and put downward pressure on rents going into next year, said Marcus & Millichap Research Services, Encino, Calif.
Full Story

Retail Fundamentals Predicted to Fall Short for 2011
Negative net absorption, higher vacancy rates and lower rents bode ill for retail properties this year and next.
Full Story


Industry Commentary
Bank Maturities, Construction Portfolios Top CRE Concerns
Upcoming commercial real estate loan maturities and partially completed development projects on community bank portfolios remain CRE's largest immediate issues, said Wells Fargo Securities, San Francisco.
Full Story

Recent Vintages Raise CMBS Delinquency Projections
Unpaid commercial mortgage-backed securities delinquencies could grow to 10 percent by the end of the year and possibly higher, said Realpoint LLC, Horsham, Pa.
Full Story

The Missing Link
There is now a distinctive air of confidence within the commercial real estate community--something that has been largely absent over most of the last three years.
Full Story

QuoteLink

"Commercial and multifamily real estate markets are mirroring the broader economy. Property prices appear to have stabilized, with differences between the leading price indices seeming to highlight variations in the market."
--Mortgage Bankers Association's Commercial Real Estate/Multifamily Finance Quarterly Data Book for the second quarter.
StatLink
     
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