Commercial mortgages

The river of red ink will likely begin to flow in the new year, due not only to the pandemic itself, but also to longer-term secular trends that have been accelerated by COVID-induced changes in the economy, says DebtX President and CEO Kingsley Greenland.

The $425 million loan securitization is among two single-asset, commercial-mortgage deals launching this week. Brookfield Asset Management's global real estate arm is also tapping investors to finance an $825 million loan backed by a downtown Manhattan office building.

But late payments for all other investor types rose compared with the second quarter.

Gelt Financial looks to troubled sectors, including retail, for prospective deals.

The ballot measure, which would allow local jurisdictions to expand rent control, had concerned mortgage companies who worried the law would result in a patchwork of different policies that could complicate underwriting and discourage lending.

The price for the commercial valuation and budgeting technology company was not disclosed.

And an uptick from second-quarter numbers is attributed to seasonality rather than any upswing in the economy.

The bank operating system’s integration with a technology platform for construction loans adds to indications of nCino’s increasing relevance to real estate-secured lending.

And how people involved with Replay Acquisition made it more attractive than an initial public offering, according to CEO Patricia Cook.

The predominantly white universe of real estate investors may be used to working with people and companies with enough financial resources to have a track record in the business, but historic inequities have limited those opportunities for Black executives.

One could change how commercial property is taxed, the other could change rent control policies. Both might affect financing.

If the tally included loans with some form of payment relief, the rate would be close to 8%.

Overall debt outstanding for delinquent commercial and multifamily mortgages cut down in September as more of the economy opens further with lodging and retail far behind, according to the Mortgage Bankers Association.

Delinquencies will rise due to the severe effects of the pandemic on the commercial property sector, Fitch said.

Approximately 75% of the quarter-to-quarter growth came from multifamily mortgage originations.

Some of the cures were the result of short-term remedies and could reverse as relief measures end.

Individuals who received a coronavirus stimulus check earlier this year also qualify for the protection, as do couples who jointly file their taxes and expect to earn less than $198,000.

While cutting losers to buy winners is an age-old investment proposition, the Covid-19 pandemic may create even more openings than the past crises that became bonanzas for real estate investors.

AFC Gamma also has a pipeline of more than $300 million potential transactions, and its West Palm Beach, Fla., office is in hiring mode.