Business Specialties
DEAL OF THE DAY: Berkadia Commercial Mortgage Originates $18,664,000 for Altamont Summit Refinance
Portland, Ore.–Berkadia Commercial Mortgage LLC originated $18,664,000 in permanent, variable-rate debt through its Freddie Mac program to refinance Altamont Summit, a 439-unit multifamily community in Portland, Ore.
SPECIAL REPORT: Educational Sessions at MBA Conference Track Mortgage Bankers’ Concern with Problem Loans
Las Vegas—Master servicers are witnessing greater numbers of borrowers trying to force the transfer of their loans to special servicing, according to Kevin Donahue, senior vice president of PNC Real Estate/Midland Loan Services Inc. “Borrowers are becoming a little savvier” in pursuing their alternatives, said Donahue. They understand that the master servicer cannot perform “material modifications” on the loan, he said.
MBA Voices ‘Serious Concerns’ Over Consumer Financial Protection Bill
The Mortgage Bankers Association (MBA) said it has “serious concerns” with the legislation passed by the House Financial Services Committee that would create a consumer financial protection agency.
Building a Whole Community
In a room full of strangers, say, an event at a regional or national conference, the first question someone is likely to ask upon meeting someone new is, “Where are you from?”
EDITOR’S NOTE: FHA Watch
Will the Federal Housing Administration (FHA) be next to need the government to keep it afloat?
REITs Amass Capital Raised on Public Markets
REITs have been raising capital on the stock market in earnest since the beginning of this year.
GUEST COLUMN: Multifamily Property Management—Truly a New Paradigm
October 08, 2009 – Fifteen years ago, we were in the midst of the last big recession. Then, as now, the crisis was caused both by the general economy as well as illiquidity in the financial markets. Today, however, the multifamily sector is light years ahead of where we were in the last go-around. This time, the major players in our sector, mostly REITs, are fueled by stable capital structures, but, more importantly, by operating platforms with a scale and sophistication unimaginable fifteen years ago.
Editor’s Note: Will Preserving our Earth Through Mandates Work?
A few new developments in the sustainability world have come to pass since my last note.
Perspective: How Central Policy Extended the Recession
The timing of this recession could not have been worse. The National Bureau of Economic Research puts the start at January 2008. This coincides with the final leg of the lame-duck Bush Presidency. Regardless of your politics, it is clear that the Bush administration a) lacked the political power to produce apic1n all-encompassing response, and b) realized after Lehman’s demise that the complex, global recession developing was going to require a long-term solution.
Apartment REITs Register Total Returns of 38% in 3Q
New York—REITs posted their best-ever quarterly gains since the NAREIT indexes’ inception in 1972.