SL Green Realty, Manhattan’s largest office landlord, reported its trophy One Vanderbilt tower is 95.2% leased, even as its overall fourth-quarter occupancy rate declined. It's just the latest sign that coveted top-tier properties are attracting tenants even while New York’s office market is still … [Read more...] about 1.9.22: SL GREEN’S ONE VANDERBILT IS 95% LEASED, EXCEEDING YEAREND GOAL
12.31.21: COVID-19 PERFORMING LOAN CONSENTS FOR CMBS LOANS – A LOOK BACK
During the peak of COVID-19, CMBS borrowers, primarily hotel and retail, were not generating sufficient revenue to make mortgage and escrow payments to lenders. As a result, loan servicers developed a plan to assist borrowers while still complying with the terms of servicing agreements. Master … [Read more...] about 12.31.21: COVID-19 PERFORMING LOAN CONSENTS FOR CMBS LOANS – A LOOK BACK
12.14.21: ANNOUNCED STORE CLOSINGS IN 2021 APPROACH AN ALL-TIME LOW
Despite rising cases of breakthrough coronavirus infections and the resulting uncertainty over the efficacy of current vaccines against variants, the retail property market shows impressive signs of recovery at yearend. Retail sales have moved well above pre-pandemic levels for months, retailer … [Read more...] about 12.14.21: ANNOUNCED STORE CLOSINGS IN 2021 APPROACH AN ALL-TIME LOW
12.8.21: COSTAR PREDICTS REBOUNDING GROUP TRAVEL WHICH MEANS ONE HOTEL METRIC COULD SUFFER
A commonly used hotel metric will edge lower in 2022 despite the hospitality sector improving, according to projections for 2022 by CoStar analysts. Convention hotels are expected to see falling average daily rates, a measure of how much revenue is generated per room, as group travel increases. … [Read more...] about 12.8.21: COSTAR PREDICTS REBOUNDING GROUP TRAVEL WHICH MEANS ONE HOTEL METRIC COULD SUFFER
11.30.21: VALUEXPRESS FORECASTS STRONG DEMAND FOR CMBS LOANS IN 2022, LED BY HOTELS
ValueXpress predicts strong demand for CMBS loans in 2022 based on pent-up financing needs from the pandemic, loan maturities and a return to rent growth from inflation. ValueXpress believes CMBS loans for hotels will outpace other asset classes for CMBS conduit loans. Hotels have been essentially … [Read more...] about 11.30.21: VALUEXPRESS FORECASTS STRONG DEMAND FOR CMBS LOANS IN 2022, LED BY HOTELS
11.17.21: LATEST CMBS CONDUIT OFFERINGS WELL RECEIVED
CMBS conduit securities offerings continued to flow in November despite growing global market volatility. 3650 REIT, Citigroup and Deutsche Bank priced a $918.6-million conduit deal -- the first from 3650’s new shelf -- at relatively tight spreads. The super-senior, long-term AAA-rated securities … [Read more...] about 11.17.21: LATEST CMBS CONDUIT OFFERINGS WELL RECEIVED
11.9.21: OFFICE OUTLOOK: TENANT INQUIRIES RISE, BUT SUBLEASE CHALLENGES REMAIN
The CBRE Pulse of U.S. office demand showed modest improvement in October with a notable uptick in new leasing requirements, while leasing activity and sublease availability held relatively steady. To gauge the pace of recovery, CBRE has created 3 indices for the 12 largest U.S. office markets -- … [Read more...] about 11.9.21: OFFICE OUTLOOK: TENANT INQUIRIES RISE, BUT SUBLEASE CHALLENGES REMAIN
10.31.21: VALUEXPRESS SEES STRONG LOAN DEMAND AS CMBS ISSUANCE SURGES IN 2021
ValueXpress continues to see strong CMBS conduit loan demand as loan originations through September are setting up 2021 to exceed the highest annual CMBS issuance volume since before the financial crisis more than ten years ago. CMBS shops floated a whopping $74.6 billion of CMBS compared with $41.6 … [Read more...] about 10.31.21: VALUEXPRESS SEES STRONG LOAN DEMAND AS CMBS ISSUANCE SURGES IN 2021
10.19.21: . . . MEANWHILE, CMBS DELINQUENCY CONTINUES TO FALL
According to Trepp, the CMBS delinquency rate declined sharply in September with the latest number being a little over half the level seen at the peak of the COVID-19 pandemic. After two huge jumps in May and June 2020, the rate has now fallen for 15 consecutive months. The September number … [Read more...] about 10.19.21: . . . MEANWHILE, CMBS DELINQUENCY CONTINUES TO FALL
10.11.21: HOW HYBRID WORK WILL TRANSFORM OUR U.S. WORKPLACES
According to a CBRE survey, 87% of large U.S. companies with 10,000 or more employees say they will be adopting hybrid work. This wide-scale shift to hybrid work will have manifold implications for the workplace -- and how companies and people leverage those workplaces to drive business outcomes and … [Read more...] about 10.11.21: HOW HYBRID WORK WILL TRANSFORM OUR U.S. WORKPLACES
