Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
NEW YORK CITY—The joint venture's initial portfolio totals 3.7 million square feet of mainly office properties in key markets; the New York State Common Retirement Fund took a 49.9% stake.
CALABASAS, CA—The 2016 US Multifamily Investment Forecast, developed by Marcus & Millcihap's Hessam Nadji and John Chang, credits further gains in US payrolls with driving apartment fundamentals.
NEW YORK CITY—EVP Ernest Katai says clients' need for integrated finance solutions in the hotel and hospitality sector led Berkadia to hire Andrew Coleman last year; Coleman tells GlobeSt.com what the latest hirings signify.
BOSTON—Mortgages on office properties posted the best quarterly and annual total returns in the latest LifeComps Commercial Mortgage Loan Index, covering loans with a principal balance totaling $103.7 billion.
NEW YORK CITY—The flagship of a newly launched hotel brand from Marriott, the 16-story office/retail property is returning to its original purpose of lodging via the Lightstone Group's adaptive repositioning.
NEW YORK CITY—With recent IRS guidance and the PATH Act mitigating against the REIT spin-off route, Fitch Ratings sees MGM Resorts and Macy's taking a different path.
WASHINGTON, DC—Despite a drop in all four of NMHC's market conditions indexes, the association's Mark Obrinsky says that longer term, "all signs point to continued strong demand for apartment residences."
CALABASAS, CA—Notwithstanding what Cushman & Wakefield's Ken McCarthy calls "much needed reassurance" from the job numbers, Marcus & Millichap cites reminders that "potential disruptions to US economic growth persist."
WASHINGTON, DC—Congress can amend the Federal Home Loan Bank Act if it wants to allow mortgage REITs to be eligible for FHLB membership, says FHFA director Mel Watt.