CRE

A 75-year-old Florida real estate developer was sentenced to six months in prison after admitting he lied to banks to keep money flowing so he wasn't forced to scuttle an oceanfront hotel and condominium in Vero Beach.

Mortgages originated to finance apartments and other income-producing properties managed to generate an overall year-to-year increase in the first half, even though there are declines in some parts of the market.

Wells Fargo is considering a sale of commercial real estate broker Eastdil Secured, according to a person briefed on the matter.

Unusually for a debut transaction, the $329.7 million M360 2018-CRE1 will be actively managed: For the first 12 months after the closing date, funds from repaid principal can be used to purchase new loans, subject to eligibility criteria.

The $109.3 million CLEAN 2018-1 is also the first deal to be marketed as a Rule 144A transaction under securities regulation making it available to wide base of institutional investors.

Banks could shed as much as 20 million square feet of office space over the next five years as they shift many functions to high-tech operations centers in markets with cheaper rents.

Commercial and multifamily mortgage debt outstanding grew $44.3 billion during the first three months of 2018, the largest first-quarter gain since before the Great Recession, according to the Mortgage Bankers Association.

Commercial real estate is their bread and butter, but many banks are scaling back in this vital loan category. Here’s why.

Angel Oak Commercial Lending has acquired a controlling interest in lender Cherrywood Mortgage in order to strengthen its focus on small-balance commercial lending.

Commercial mortgage bonds are getting stuffed with the lowest-quality loans since the financial crisis by one measure, according to Moody's Investors Service.