Allison Landa
CPE Radio: Dees Stribling’s Economy Watch Weekly
Economy Watch reporter Dees Stribling offers insights into the top economic news of the week ending April 22 and what to watch out for in the coming week.
Michael Puls on Apartment Absorption
Michael Puls, owner of market research firm Foley and Puls, discusses apartment fundamentals, absorption trends in the Southwest, multifamily unit mixes, and why larger units will rent faster.
Economy Watch: Home Prices Down, Indicators Up
The Federal Housing Finance Agency said that its House Price Index dropped 1.6 percent from January to February, a sharper than expected contraction. Compared with February 2010, prices for homes financed with mortgages backed by Fannie Mae or Freddie Mac, which is what the FHFA tracks, were down 5.7 percent.
Savanna Investment Wields $1B of Buying Power
The firm just completed the final closing of its second real estate private equity fund, Savanna Real Estate Fund II L.P., with approximately $550 million of total equity commitments, marking a significant premium over the $400 million target.
HFF Secures Financing for SoCal Retail Center
The loan was procured for Oceangate Commerce Center, a 182,743-square-foot grocery-anchored property in Hawthorne, Calif.
Economy Watch: Home Sales, New Loan Rules
The National Association of Realtors reported that existing home sales were up unexpectedly in March on the heels of an unexpected rise in housing starts, which was reported by the U.S. Census Bureau. So the housing market still has a few surprises up its tattered sleeves.
Report: More Loans Pay Off at Maturity
The percentage of loans paying off at maturity has hit the highest level since December 2008. That’s according to the recent Trepp March Payoff Report, which finds that the percentage cracked the 50 percent threshold for only the second time since that time, with 55.5 percent of loans reaching their balloon date paid off in March.
Jones Lang LaSalle Tapped to Lease Midtown Office Building
There are a few holes in the tenant roster, but JLL plans to fill in the gaps at the premier 301,000-square-foot office building.
Economy Watch: Starts Up, Unemployment Down
Housing starts experienced an unexpected uptick in March, according to the U.S. Census Bureau. The annualized rate for home starts during March was 549,000, an increase of 7.2 percent from February, when starts were at a record low. The bureau revised February’s total starts upward to 512,000 from 479,000, but that was still the lowest rate since April 2009.
Recovery Rates on Defaulted CRE Loans by Property Type
Source: Real Capital Analytics Inc.