Office Loan Defaults Spread to Denver, Buyer Snaps Up Another Distressed Retail Center, Single-Borrower Payoff Rate Set To Improve
CoStar News

Office Loan Defaults Spread to Denver: Credit-rating firms have been lowering bond ratings on downtown office buildings across the country, including in Charlotte, North Carolina, and Philadelphia in the past two weeks. In the latest downgrade, S&P Global Ratings notched down its ratings on five classes of bonds from commercial mortgage-backed securities deal WFRBS 2013-C11. The move reflects S&P’s reevaluation of the largest loan in the offering backed by Republic Plaza, Denver’s largest office building.

Republic Plaza is a 56-story, 1.34 million-square-foot, Class A office property and parking garage hit hard by changing office demand, particularly in the energy sector. The property, opened in 1982, has an outstanding loan balance of $243.1 million spread out over two CMBS deals. The loan matured on Dec. 1 without paying off as scheduled, according to S&P Global.

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Fannie Mae Prepares for Possible Losses on Multifamily Loans This Year
CoStar News

Fannie Mae prepped for possible losses on multifamily loans this year by putting a big dent in last year’s profit margin, tracking with a trend among banks that have made similar moves because of recession fears.

The government-sponsored lender pushed loan loss reserves to $11.4 billion from $5.7 billion in 2021. That move contributed to Fannie Mae’s net income dropping from $22.1 billion in 2021 to $12.9 billion last year.

Funds put in reserve reflect a greater potential loss on multifamily loans than credit loss with single-family mortgages because that end of the business fell dramatically last year. Single-family convention loan acquisition volume fell 55% from $1.4 trillion in 2021 to $614.8 billion last year.

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US Industrial Real Estate Sales Demand Slows From Record
CoStar News

Industrial demand is on pace to make 2022 the second strongest on record as businesses grabbed warehouse space for most of the year, even in the face of economist concerns about a potential global recession.

The United States is headed toward surpassing 400 million square feet more space leased than put on the market this year for just the second time after 2021's record-shattering 518 million square feet of net absorption, according to Brandon Svec, an industrial analyst and CoStar’s national director of U.S. retail analytics.

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The party is over in commercial real estate. Here’s what to expect in 2023.

The $21 trillion commercial real-estate market faces a deluge of debt coming due, at much higher rates

An era of cheap debt that helped lift prices on hotels, office buildings and other U.S. commercial properties to dizzying new heights has ended.

Borrowers thirsty for financing have watched mortgage rates roughly double in 2022 from the 3% lows, spillover from the Federal Reserve’s inflation fight that could cost several million people their jobs.

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Market Uncertainty: What We Have Not Yet Seen
CIO Strategy Bulletin

Markets are deeply unsettled. Through the remainder of 2022, we expect US employment to be positive, profits to marginally grow further, and inflation to start slowing. However, we also expect a likely 10% decline in US corporate earnings for 2023. A rapid "change of weather" for the economy appears on the horizon.

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NorthPoint to Develop $230 Million Industrial Park in China Grove
Connect CRE News

NorthPoint Development will build the Foster Commerce Center, a 2.2 million square-foot industrial park on 160 acres about 10 miles east of San Antonio, in China Grove. The six-building development will be constructed in phases, with the initial phase comprising two buildings totaling 650,000 square feet.

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Industrial Demand Wanes Among Investors As Interest Rates Rise

Investors are backing away from industrial assets amid rising interest rates, leading to a slowdown in the fervent demand that typified the sector over the past two years.

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CBRE Pushes New Business Lines, Predicts Fourth-Quarter Recession
CoStar News

CBRE Group, the world's largest commercial real estate brokerage, pushed to develop new business in the second quarter as it predicts a recession by year's end that could disrupt portions of the industry.

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Dr Mark Dotzour | New Rules, New Realities | Your True Partner Summit 2022
AmCap Home Loans

The housing market is always changing. In this keynote presentation, Dr. Mark Dotzour offers his insights on the current state of the market and what to expect in the coming years.

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Arden, Arcapita JV Acquires DFW Infill Portfolio

Arden Logistics Parks, a rapidly expanding joint venture of Philadelphia-based Arden Group and Arcapita, an investment bank based in Bahrain, has acquired a 19-building industrial portfolio from Dallas-based MoxieBridge in a transaction sourced through JLL.

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Hillwood Developing 1.7 Million Square Feet of New Industrial Space
D Magazine

Plus: City of Irving is offering up big incentives to lure banking giant Wells Fargo; Construction company Brasfield & Gorrie expands its North Texas presence; and more.

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Turning point? Housing market is eroding quickly as buyers ‘look for better deals’
The Dallas Morning News

The Texas economy is slowing amid surging inflation, rising interest rates and more uncertainty, according to the Fed’s Beige Book.

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DFW named top CRE market in the U.S. in midyear report
The Real Deal

In the first six months of 2022, North Texas topped Los Angeles, Atlanta and Houston on the list of the nation’s biggest commercial property markets by sales volume.

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United States Industrial Outlook - Q2 2022

Space remains tight in the market, but forecasts are holding steady for the remaining balance of the year.

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