February 2014 — Calkain-Chandan 2014 Net Lease Economic Outlook Report available now from Calkain Companies
February 2014 — Chandan's landmark study Secondary Market Investment Dynamics available now from NAIOP
Housing Hitting Bottom? Following the release of new data showing a rise in home sales, Connell McShane speaks with Sam Chandan about the sector's outlook. In spite of record-low mortgage rates, rising rents, and declining house prices, the increase in sales activity has been relatively modest. Dr Chandan explains why a sustained improvement in housing is unlikely to assert itself in the near- to medium-term.
Nontraditional Lenders Gain Multifamily Market Share | by Susan Piperato | As apartment fundamentals continue to strengthen, a broad range of lenders is reengaging with investors in support of property sales and new construction. NREI Managing Editor Susan Piperato writes:
Economy Buffeted By European, Domestic Headwinds If equity markets offer any indication, investor optimism in the outlook for business profits increased measurably during October. The Dow Jones jumped more than 1,000 points during the month, rising by 9.5 percent. A broader market measure, the S&P 500 spiked 10.8 percent, its best one-‐‑month result since 1991. REIT stocks performed even better.
Lenders Eye a Project's Location | by Cody Lyon | Lending conditions are improving even as historical loan performance trends remain mixed, explains Cody Lyon. Among other examples, Lyon cites a $35 million construction loan for RiverView Apartments in Austin made by Bank America. Jones Lang LaSalle Capital Markets' Jimmy Board tells Lyon that banks are among the sources of credit reengaging with borrowers:
Volume of Delinquent Loans Declines The health of banks' multifamily and commercial real estate balance sheets is improving. In its November edition, Multi Housing News reports on the findings of Chandan Economics' latest analysis of mortgages held by US depository institutions. The default rate on apartment mortgages showed the largest decline, falling to 3.3 percent in the second quarter.
Coach Commits to Moving to New York City's Hudson Yards | by Ilaina Jonas | Related Companies' 26-acre development on Manhattan's West Side has announced its first major commitment, explains Ilaina Jonas. Retailer Coach said it intends to purchase 600,000 square feet in one of the project's towers. Construction at Hudson Yards is expected to begin in mid-2012 with completion projected for 2015.