CRE Daily

New York Community Bank (NYCB) reported its second consecutive quarterly loss as it struggles to stabilize operations and reassure investors. Hours before its earnings call, NYCB announced it sold its mortgage warehouse loan business to JPMorgan Chase for $5.9B and its residential mortgage servicing business to Mr. Cooper Group for $1.4B. NYCB’s CFO stressed that the bank now holds a "fairly strong liquidity position." #multifamily #loans #banke

U.S. industrial construction starts saw a significant decline in 1H24, according to CommercialEdge’s July 2024 National Industrial Market Report.

Watch the full episode on YouTube 🔗 https://lnkd.in/eEmZ3m46

A proposed NYC bill aims to regulate nonunion hotels, sparking controversy in the country’s third-largest lodging market.

Deutsche Bank (DB) anticipates its #office credit portfolio will feel more pressure in 2H24 from CRE, increasing its guidance for full-year credit losses.

According to a new report from WalletHub, Bismarck, North Dakota, is the most affordable rental market, with renters spending only 15% of their income on rent.

C-PACE is gaining popularity among developers. Josh Sasouness explains its appeal and the challenges with senior lenders. Listen to the full episode: https://lnkd.in/eyvhg-zF

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#Denver’s industrial availability rate hit a decade-high 9.5% in Q2, thanks to 2 MSF of new construction. #industrial #construction

According to a report from data software company Placer.ai, major retailers—particularly discount stores and fitness centers—enjoyed surging foot traffic in Q2. Overall, retail visits rose 4.2% YoY, as reported by GlobeSt.com.