U.S. Mortgage Credit Availability Increased in June

Mortgage Bankers Association | July 11, 2019

U.S. Mortgage Credit Availability Increased in June
According to a new report from the Mortgage Bankers Association, U.S. mortgage credit availability increased in June 2019, based on their the Mortgage Credit Availability Index (MCAI). The MCAI rose 0.2 percent to 189.8 in June. A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of loosening credit. The index was benchmarked to 100 in March 2012. The Conventional MCAI increased 0.3 percent, while the Government MCAI decreased slightly (0.1 percent). Of the component indices of the Conventional MCAI, the Jumbo MCAI increased by 0.6 percent, and the Conforming MCAI fell by 0.1 percent

Spotlight

The portfolio is the largest for Colliers’ Government Solutions, the industry’s leading comprehensive services platform focused solely on government real estate. The Government Solutions platform consists of five

Related News

StepStone Real Estate Closes Fund IV With $1.4 Billion in Capital Commitments

prnewswire | September 29, 2020

StepStone Real Estate ("SRE") announced today the final closing of StepStone Real Estate Partners IV ("SREP IV"), its fourth in a series of funds focused on special situations secondaries and recapitalizations of real estate vehicles. SREP IV's $1.4 billion final closing exceeded the $1 billion target for the fund and notably, approximately $870 million of the commitments closed after the advent of the COVID-19 pandemic. Latham & Watkins LLP served as legal advisors for the formation of the fund. SREP IV is double the size of its predecessor, SREP III, which had its final closing in February 2017 with $700 million in primary commitments and invested capital of approximately $1.2 billion, including capital from co-investors.

Read More

REAL ESTATE INVESTMENT

Marcus & Millichap Capital Corporation Enters Strategic Alliance with M&T Realty Capital Corporation

Marcus & Millichap | October 08, 2021

Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today that its financing subsidiary, Marcus & Millichap Capital Corporation (MMCC) has entered into a strategic alliance with M&T Realty Capital Corporation (M&T Realty Capital). The strategic alliance will enable MMCC to provide clients with increased access to M&T Realty Capital’s affordable and conventional multifamily agency financing through a highly streamlined process with dedicated resources. M&T Realty Capital is a Fannie Mae DUS lender and an approved Freddie Mac multifamily lender for Freddie Mac’s Conventional and Targeted Affordable Housing loans. As part of MMCC’s ongoing expansion, the alliance includes a preferred stock investment in M&T Realty Capital and the ability for MMCC to indemnify M&T Realty Capital for 50% of the credit risk losses for certain loans originated by MMCC through M&T Realty Capital’s Fannie Mae DUS platform. The strategic alliance will enable MMCC originators to access M&T Realty Capital’s streamlined underwriting and efficient transaction execution in this critical capital markets segment. Under the agreement, MMCC originators will continue to have the ability to clear the market on behalf of each client. Additionally, they will have access to M&T Realty Capital’s dedicated tools, resources, and expansive lending capacity, which are expected to significantly grow agency market share for MMCC’s sourcing business and M&T Realty Capital’s loan origination business. In January 2021, MMCC named Evan Denner as Executive Vice President and Head of Business. Denner was instrumental in co-designing the partnership with Michael Berman, President and CEO of M&T Realty Capital, along with Beekman Advisors, who advised MMCC on the alliance. To further build MMCC’s ability to expand its clients’ access to agency financing, Paul Lewis, who spent nearly 20 years at Fannie Mae, joined in January. Lewis is a Senior Vice President and Director of Agency Programs. MMCC is well positioned to work seamlessly with M&T Realty Capital to expand agency financing for our multifamily clients with better tools and resources for our originators. Marcus & Millichap is the leader in multifamily brokerage and will better integrate agency financing with our client value proposition. The investment in this strategic alliance and willingness to indemnify M&T RCC for credit risk losses is driven by the agencies’ historically strong multifamily loan performance and very low losses, coupled with significant upside in growing our internal financing capture rate and M&T’s unique ability to enhance our client services. - Hessam Nadji, President and CEO of Marcus & Millichap MMCC closed $2.73 billion of multifamily financing in the first half of 2021 and with this alliance will become M&T Realty Capital’s largest origination partner by loan volume. Marcus & Millichap and its Institutional Property Advisors (IPA) division closed $12.97 billion of multifamily sales in the first half of 2021. “Marcus & Millichap and IPA have a stellar reputation in the industry and specifically in the multifamily real estate segment,” stated Berman. “We are proud to have Marcus & Millichap Capital Corporation as our strategic alliance partner. The synergies across our brands will enable us to provide substantial opportunities for clients.” The alliance will allow both firms to provide clients with the most competitive capital markets solutions secured by multifamily properties throughout the United States. MMCC originators will work directly with M&T Realty Capital’s origination and credit teams creating an efficient, transparent, and ultra-competitive process for clients. Lewis and M&T Realty Capital’s Mark Gould will co-manage the venture. About Marcus & Millichap (NYSE: MMI) With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research, and advisory services. Founded in 1971, the firm closed 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. About Marcus & Millichap Capital Corporation Marcus & Millichap Capital Corporation (MMCC) is a subsidiary of Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada. MMCC provides commercial real estate capital markets financing solutions, including debt, mezzanine financing, preferred and joint venture equity, sponsor equity, loan sales and consultative and due diligence services. In 2020, MMCC closed 1,943 transactions totaling $7.67 billion. M&T Realty Capital Corporation® M&T Realty Capital Corporation® is a wholly-owned subsidiary of M&T Bank Corporation—one of the 20 largest US-headquartered commercial bank holding companies. As a full-service mortgage banking company, it specializes in providing competitive financing nationwide for commercial real estate. It is a fully accredited Fannie Mae DUS® lender, a Freddie Mac Optigo® lender, an approved FHA/HUD MAP and LEAN lender, and offers life insurance company and CMBS financing through correspondent relationships. In addition to its M&T Bank offices, MTRCC is also closely aligned with M&T commercial banking offices in Florida, Oregon, and Washington.

Read More

REAL ESTATE TECHNOLOGY

Peerage Realty Partners Acquires a Substantial Partnership Interest in Cascade Sotheby's International Realty of Oregon

Peerage Realty Partners | December 07, 2021

Peerage Realty Partners Inc. ("Peerage Realty") announces a substantial partnership interest in Cascade Sotheby´s International Realty ("Cascade"), a leading premium real estate brokerage in the Portland, Bend, Southern Oregon, Coastal Regions of Oregon, and Southwest Washington markets. The firm specializes in the representation of significant properties that highlight sophisticated urban markets as well as the spectacular natural beauty of the Pacific Northwest region. Under the leadership of CEO Deb Tebbs and the senior management team, since 2006 Cascade Sotheby's International Realty has continually set company sales records. The firm's 2021sales volume with exceed US$3 billion (C$ 3.8 billion), achieving a 30 percent increase over 2020. The partnership with Cascade Sotheby's International Realty is a key milestone for Peerage Realty, serving as a cornerstone for its North American expansion strategy in targeted real estate markets that have exciting growth opportunities. It also reinforces existing relationships between Peerage Realty and the iconic Sotheby's International Realty brand, reflecting the intent to forge more such partnerships in the future. "With Cascade Sotheby's International Realty, we are adding another superb Sotheby's International Realty firm to the Peerage Realty family of companies,"."Deb Tebbs is an exceptional, entreprenurial leader who has built a talented management team that shares a long-term commitment to be the best in their business. The ability to partner with those who share our values and our singular focus on providing clients with a luxury experience, is a true privilege." -Gavin Swartzman, CEO of Peerage Realty "Each and every day we focus on supporting our agents, and it's our sharing and give-back culture that is the heart and soul of this company,". "As our agents know, my objective has been to build a strong and sustainable model that incorporates the most up-to-date technology, broker support, and generates future opportunities. I believe this unique partnership with Peerage Realty will benefit our agents the most. Now more than ever, we will empower our agents to deliver exceptional real estate services from which our clients will benefit." -Deb Tebbs Presently, Peerage Realty is in partnership with Sotheby's International Realty Canada ("SIRC"), Canada's largest luxury real estate brokerage with 30 offices and 690 agents in Ontario, Quebec, British Columbia and Alberta; Briggs Freeman Sotheby's International with six offices and 381 agents in North Texas, including Dallas and Fort Worth; Four Seasons Sotheby's International Realty with 23 offices and 320 agents in Vermont, New Hampshire and New York; and Jameson Sotheby's International Realty ("Jameson"), a dominant player in the luxury residential and commercial real estate markets with six offices and 460 agents in the Greater Chicago Area. ABOUT CASCADE SOTHEBY'S INTERNATIONAL REALTY With 400 brokers and 17 offices serving Oregon and Southwest Washington, Cascade Sotheby's International was ranked the third fastest-growing company in Portland in 2020. It has a 20 per cent share of the key Bend, Oregon market, twice as much as its nearest competitor. In 2021, posting a 30 percent increase over the previous year, Cascade Sotheby's International Realty is projected to generate over US$3 billion (C$3.8 billion) in sales volume. ABOUT PEERAGE REALTY PARTNERS Peerage Realty Partners is a leading residential real estate services firm, serving luxury markets across North America. Peerage Realty brokerage partners include leading Sotheby's International Realty franchisees, and renowned independent firms in both re-sale residential real estate brokerage, and new construction marketing. Peerage Realty core service activities include real estate financing, transaction services, asset management, and home improvement for purpose-built rental properties. Peerage Realty has the unique benefit of being a privately-owned enterprise that is positioned to commit to long-term partnerships and investments. Peerage Realty is projected to sell over US$30 billion (C$38 billion) in 2021 through its partner firms. It has over 4,000 best-in-class sales representatives and employees with 211 offices in Canada and the United States. To support growth and expansion among partners, Peerage Realty consistently provides strategic input, capital, technology, operational expertise, marketing, communications, and value-added products and services that differentiate and strengthen its partner firms in competitive markets. Its goal is to expand the suite of services that its partner firms can offer to enhance the client experience through all phases of a real estate transaction and beyond.

Read More

Spotlight

The portfolio is the largest for Colliers’ Government Solutions, the industry’s leading comprehensive services platform focused solely on government real estate. The Government Solutions platform consists of five