Category: Uncategorized

Rising Interest Rates and What’s Next for Multifamily Lending

Posted on by Sarah

Multifamily investors are bracing for an uptick in mortgage rates and other forms of real estate finance as the Federal Reserve bumps up interest rates in 2022. As an inflation-fighting move, the Fed plans three hikes of 25 basis points each. And in December, the Fed announced that it would wind down its bond-buying program by March.

But the consensus among mortgage bankers and economists is that increases in the cost of capital will be modest and will not dampen the availability of financing or the surge of investment. Multifamily lending volume will rise 3 percent to $421 billion this year as the economy continues to rebound, the Mortgage Bankers Association projects.

“The change in interest rates is not expected to reduce demand for multifamily housing this year. A lot of demand is driven by property values and fundamentals, both of which are extremely strong right now,” said Jamie Woodwell, MBA’s vice president of commercial real estate research. Strong property income and low vacancy are combining to push valuations upward, he added. Click to read more at www.multihousingnews.com.

Rockspring Properties Represented owners of 22.5 AC in Sale to Eastgroup Properties for Future Industrial Development

Posted on by Sarah

22340 INTERSTATE 45 SPRING, TX 77373: Chris Hutcheson, James Kadlick, Harrison Kane and Matt Herring of Rockspring Properties represented the owners of 22.5 acres located at the southeast corner of I-45 and the Grand Parkway in Spring, TX. The Buyer was Eastgroup Properties and they will be doing a future industrial development on the site.

“It’s Everywhere:” Demand for Houston Industrial Space on the Rise

Posted on by Sarah

To say that 2021 was a busy year for the team at CenterPoint Properties is an understatement. “The market is stronger on the demand side than I’ve seen in my 20-year career,” says Rives Nolen, CenterPoint’s Senior Vice President of Investments. After several years of lagging new supply, Nolen shares that the demand for industrial space in Houston is outpacing new construction this year. “Our vacancy rates are still not quite on par with the rest of the country, but I think with the demand that we’re seeing right now, things are moving in the right direction,” he says.

Heading into 2022, he anticipates the market will continue in that direction, lowering vacancy rates and inflating rents. “In terms of supply and demand, we are seeing more balance and the vacancy rate is trending back toward historical levels,” says Nolen. “We need another year like 2021, and we’re likely going to get that in 2022.” He also expects continued demand for larger industrial footprints, a trend Nolen says began nearly a decade ago. The average deal size in Houston this year is roughly double what it’s been historically. Click to read more at www.rednews.com.

Sidecar Represented Benton Street Properties in the Purchase of 6,455 SF Flex Property at 3121 Benton Street in Garland

Posted on by Sarah

Sidecar Commercial Real Estate: Jim Breitenfeld and Team

Benton Street Properties, LLC – Sidecar CRE’s Jim Breitenfeld and Ray Martin represented Benton Street Properties in the purchase of a 6,455sf Flex property located at 3121 Benton Street in Garland. Michael Chiocca of CBRE represented the Seller.

Realogy and Home Partners of America Tap High Growth Business Innovator Katie Finnegan as First CEO of RealSure Joint Venture

Posted on by Sarah

MADISON, N.J. and CHICAGO, Oct. 26, 2021 /PRNewswire/ — Realogy Holdings Corp. (NYSE: RLGY), the largest full-service residential real estate services company in the United States, and Home Partners of America, a leading real estate investor providing residents with a new path to homeownership through its innovative lease purchase program, today announced the appointment of Katie Finnegan as Chief Executive Officer of RealSure®, a joint venture between the two companies that is transforming how consumers sell and buy homes. An entrepreneur and trailblazer in incubating leading innovation that transforms the consumer experience, Finnegan will work to accelerate growth and enhance RealSure’s residential real estate transaction solutions.

In her new role, Finnegan will be responsible for developing and marketing RealSure’s consumer solutions that will offer a fresh, unique way to give home sellers and buyers confidence that they are making the best possible decision when making one of the most important transactions of their and their family’s lives. Central to Finnegan’s work will be the objective of simplifying the consumer experience without removing the personal relationship with an agent. Click to read more at www.prnewswire.com.