Total cumulative U.S. commercial property distress hit $94.2 billion in Q2 2024, increasing by $2 billion from the previous quarter, according to MSCI's Capital Trends US Distress Tracker.
Delinquency rates for commercial mortgages showed a marginal improvement in the second quarter amid a challenging economic landscape.
New York Community Bank (NYCB) reported its second consecutive quarterly loss as it struggles to stabilize operations and reassure investors.
Rexford Industrial is thriving amid a national warehouse slump by focusing on smaller buildings.
The first half of 2024 saw a massive increase in CMBS issuance, reaching $42.29 billion, marking a nearly threefold increase from the previous year.
Apartment market conditions continue to loosen, though deal flow increased for the second straight quarter amidst more favorable conditions for debt financing.
Despite a resilient economy and strong demand, rent growth in 2024 has been slower than expected, but projections for 2025 look more promising.
Retail vacancy dropped to 5.3% in Q2 2024, the lowest in 20 years, with 1.4M SF absorbed despite slower consumer spending.
SL Green's strong performance offers a beacon of hope in Manhattan's tough office market, but widespread recovery remains distant amidst high vacancy rates.
In June, US housing starts increased by 3% to an annualized rate of 1.35 million, primarily due to a significant 19.6% rise in multifamily construction.
The CRE meltdown is spilling over into the bond market, with defaults mounting in a once-secure segment of mortgage bonds.
President Joe Biden plans to introduce a proposal today to cap annual rent increases at 5% for major apartment landlords.
