Author Archives

Equinix to Purchase Infomart Dallas Data Center Complex from ASB for $800M

DALLAS — Equinix Inc. (NASDAQ: EQIX), a data center owner and operator based in Redwood City, Calif., has agreed to purchase Infomart Dallas from ASB Real Estate Investments for $800 million. The 1.6 million-square-foot Infomart Dallas is a highly visible data center facility located at 1950 N. Stemmons Freeway near the intersection of Interstate 35 and Dallas North Tollway. Equinix is the facility’s largest tenant, representing approximately 40 percent of lease revenues. The..

February 15, 2018

‘We Have Turned the Corner’ on Interest Rates Globally, Says MBA’s Chief Economist

SAN DIEGO — Michael Fratantoni, chief economist at the Mortgage Bankers Association (MBA), fully expects the U.S. national unemployment rate to fall well below 4 percent this year — possibly as low as 3.6 percent — leading to an acceleration in wage growth, inflationary pressures and, ultimately, higher interest rates. Nationally, the unemployment rate stood at 4.1 percent at the end of January. “This is an extraordinarily tight job market,” said the veteran economist, who pointed..

February 13, 2018

MBA Forecasts Three Percent Decline in Mortgage Originations in 2018

WASHINGTON, D.C. — The Mortgage Bankers Association (MBA) projects commercial and multifamily mortgage originations will decline slightly in 2018, ending the year at $549 billion, down 3 percent from 2017. Looking further into its crystal ball, MBA forecasts origination volume to remain relatively flat in 2019. "There is a strong mix of both headwinds and tailwinds in the commercial real estate finance markets right now," says Jamie Woodwell, vice president of commercial real estate..

February 12, 2018

‘A Record Year’: Commercial/Multifamily Loan Originations Increased 15 Percent in 2017, Says MBA

WASHINGTON, D.C. — Commercial and multifamily mortgage originations for all of 2017 increased 15 percent on a year-over-year basis, bolstered by the strength of the multifamily, industrial and office sectors, according to the Mortgage Bankers Association (MBA). The preliminary estimate was released Sunday during MBA’s Commercial Real Estate Finance/Multifamily Housing Convention & Expo 2018 in San Diego. The estimate is based on the MBA’s Quarterly Survey of Commercial/Multifamily..

February 12, 2018

Tenants Gain Leverage in Raleigh-Durham Office Market as Supply Comes On Line

Eight years into the recovery, Raleigh-Durham’s office market conditions remain decidedly in favor of landlords, but increased construction following years of limited development activity is at last providing much needed new leasing opportunities for tenants. While a combination of factors, including new construction, drove office vacancy higher by the second half of 2017, the market began the year with the tightest Class A leasing market witnessed since the dot-com boom. Class A vacancy..

February 12, 2018

Brookfield Residential Acquires Developer OliverMcMillan, Including ‘Certain Assets’

CALGARY, ALBERTA AND SAN DIEGO — Brookfield Residential Properties Inc., the residential development arm of private equity firm Brookfield Asset Management, has closed on its acquisition of OliverMcMillan, a San Diego-based developer of large-scale mixed-use properties. Details of the acquisition were not disclosed, but on a conference call Wednesday (Feb. 7), Brookfield Residential chairman and CEO Alan Norris stated that the acquisition encompasses “certain assets” of..

February 8, 2018

High Demand, Low Vacancy Push Triangle’s Industrial Rents to New Heights

The Raleigh-Durham industrial and flex market, totaling approximately 129 million square feet, continues to be strong with overall positive absorption. Vacancy is trending lower, making the region a landlord and seller’s market. With increasing construction costs, lower vacancy and solid demand, the rental rates and sales prices are now the highest of any city in North Carolina. Available industrial land is diminishing for development in high-demand areas, and that typically signifies a..

February 5, 2018

Oxford Properties, CPPIB Acquire Manhattan Site for $700M, Plan Mixed-Use Development

NEW YORK CITY — Oxford Properties Group and Canada Pension Plan Investment Board (CPPIB) have closed on the $700 million acquisition of a 3.25-acre development site in the Hudson Square district of Manhattan’s Midtown South submarket. The historic St. John’s Terminal site, which will be redeveloped into a mixed-use project, is situated south of West Houston Street and features 600 feet of frontage along the Hudson River. The northern portion of the site was not included in the..

February 1, 2018

Seller’s Market for Jacksonville Retail Creates Opportunities for Investors

The Jacksonville and North Florida retail markets are seeing an increase and influx in new investment activity. Analysts are watching the volume, vacancy rate and new construction, and all signs point to a seller’s market, but compared with other Florida cities, the cap rate and the opportunities are still attractive to retail investors. What sets Jacksonville apart from other cities in Florida and across the country is the area’s strong employment growth and the amount of developable..

January 29, 2018

Berkadia Forecast: Southeast to Garner Bulk of Multifamily Investment, Financing Activity in 2018

AMBLER, PA. — Mortgage bankers and investment sales brokers alike expect multifamily markets in the Southeast to record more investment and financing activity than any other region in 2018. In Berkadia’s inaugural poll of nearly 150 staffers across 60 offices, the company reveals that more than one-third (36 percent) of its respondents predict the Southeast would see the most deals take place this year. “Population influx, continued job growth and significant development..

January 25, 2018