Summer is the best time to get outside, chill by the pool, grill out with family and not being that person glued to your phone trying to catch up on all the big CRE news that happened last week. That is why we do our weekly roundup of CRE news articles. This week we found a commercial real estate storm a-brewin’, multifamily mortgage debt rising, craft breweries as a new opportunity, year over year deal volume drop, and so much more. See the 12 CRE news articles below to get a better all around view of the industry:
1. Pimco Says ‘Storm Is Brewing’ in U.S. Commercial Real Estate – U.S. commercial real estate prices may fall as much as 5 percent in the next 12 months amid tightened regulations, a wall of debt maturities and property sales by publicly traded landlords, Pacific Investment Management Co. said in a report Monday. (Bloomgberg)
2. NRF not happy with proposed replacement to Affordable Care Act – The National Retail Federation has some big concerns about a plan unveiled Wednesday by House Republican leadership to replace President Obama’s Affordable Care Act. (Chain Store Age)
3. These Office Markets Saw Double-Digit Rent Growth Over The Past Year – Here’s a look at which cities have been the hottest for office over the past year, according to Colliers’ Q1 Office Market Outlook. (Bisnow)
4. U.S. Commercial, Multifamily Mortgage Debt Rises to $2.86 Trillion in 2016 – According to the Mortgage Bankers Association, the level of commercial and multifamily mortgage debt outstanding in the U.S. increased by $35.3 billion in the first quarter of 2016, as three of the four major investor groups increased their holdings. That is a 1.2 percent increase over the fourth quarter of 2015. (World Property Journal)
5. Rudin Management Launches Commercial Real Estate Tech Startup – Nantum integrates existing sensor data from disparate building systems to provide a holistic view of how a building is operating. It can then prescriptively recommend real-time system adjustments, identify operational inefficiencies, target preventative maintenance and provide building re-commissioning in real time. (CRE.Tech)
6. Craft Breweries: A Unique Opportunity for CRE Owners – In October, Colliers released a report highlighting this trend, noting that the growing popularity of craft beer presents an opportunity for owners of both warehouses and retail spaces to purpose their buildings for brewers producing and/or selling their output. (Hightower)
7. Walker & Dunlop Snaps Up $4B Mortgage Servicing Portfolio – Walker & Dunlop Inc. has completed the purchase of a $3.8 billion commercial mortgage servicing portfolio from a subsidiary of Oppenheimer Holdings Inc. for $44.6 million. (Multi-Housing News)
8. Can Low-Income Housing Be Energy-Efficient and Affordable? – The close to 5 million American households that call some form of low-income housing home, usually renters in multifamily buildings, are less likely than others to be able to afford or be empowered to make changes that in the long run would save both energy and money. So, ironically, they often pay the highest energy bills. (Green Building Advisor)
9. New Hotels for Millennials? – All eyes are on Millennials these days, and hoteliers should be no exception. With their focus on location over brand, they’re going to change hotel strategy in the next few years, declared James Wiseman, president of Margaritaville Development. (Commercial Property Executive)
10. Deal Volume Suffers 36% Y-O-Y Drop – The top-line figure is unsettling: May deal volume for significant UScommercial property sales declined 36% from the year-ago period, Real Capital Analytics reported Thursday. Numbers like these have led some industry members to anticipate a market correction; however, RCA’s latest US Capital Trends Report notes that “while challenges are ahead, this cycle does not need to end like the last.” (Globest.com)
11. Chicago: Losing Residents, but Gaining New Ground? – As a resident and practicing commercial real estate broker in Chicago, I can honestly say I wouldn’t want to live or work anywhere else. Despite the population loss, the city has actually developed with respect to global businesses, and several neighborhoods have become the focal point of real estate growth. (Colliers Knowledge Leaders)
12. For retailers, closing stores isn’t as easy as it once was – Investors are demanding it. Industry analysts are pushing for it. Even retailers and property owners, to a certain degree, agree more needs to be done. So why are companies moving so slowly to close down a chunk of their stores? (CNBC)
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