Brookfield-sponsored CMBS raises $400 million for Brooklyn towers
Eagle + West is Brookfield's premier luxury building at Greenpoint Landing.
Rentals
Multifamily debt outpaces CRE for 10th quarter
Multifamily debt held by all capital sources continues to grow at a faster pace than the overall commercial market, the Mortgage Bankers Association said.
Real estate investors pull back on home buying in Q3
Investors bought 15.9% of U.S. homes sold in Q3, according to Redfin, a level similar to 2018 and 2019, when the share was around 14%.
Single-family rental issuer Progress Residential raises $675.3 million
The collateral is a single loan secured by first-priority mortgages in a pool of 2,070 single-family homes.
Investor purchases increase for first time in 2 years
Compared to a year ago, investors bought a greater number of properties and made up a larger share of overall purchases, returning to the market faster than individual buyers, according to Redfin.
Avis prepares to sponsor a $750 million rental lease securitization
Over-collateralization in the form of vehicles provides most of the deal's credit enhancement on the notes, which also has a higher concentration limit for Teslas.
Housing slowdown puts damper on rent-backed bonds
BofA Securities Inc. predicts that single-family rental securitizations — which repackage a single loan tied to multiple properties — will fall to just $2 billion for the rest of 2022 as Federal Reserve rate hikes send shivers across the industry.
Build-for-rent homes make up a larger share of investor buys
The share of existing properties acquired by single-family rental providers has fallen by 24 percentage points since 2019, while surging BFR numbers made up much of the difference.
