CRE

Upcoming risk retention requirements may be the proverbial straw that breaks the back of the commercial mortgage-backed securities market.

The management team at Bank of the Ozarks knows it has a dependency on commercial real estate. But they assert that sound underwriting, and efforts to diversify, are what really matters when assessing risk.

Late payments on securitized commercial mortgages moved noticeably higher in June, as several large loans failed to pay off at maturity.

Manhattan renters left their apartments in search of better deals last month, pushing back against landlord price increases and taking advantage of a flood of new choices on the market.

A noted upper midtown Manhattan retail center that sold last month for $525 million is among several high-end retail, shopping and hotel resort properties JPMorgan is including in its latest commercial mortgage securitization.

Total multifamily and commercial mortgage originations are expected to decrease from last year's levels because of economic uncertainty, according to the Mortgage Bankers Association.

Cornerstone Real Estate Advisers, an asset manager owned by Massachusetts Mutual Life Insurance, agreed to buy ACRE Capital Holdings in a bet on multifamily loans.

The Connecticut Housing Finance Authority intends to offer up to $63 million in fixed-rate bonds on Tuesday and $23 million as variable rate on July 13.

Suffolk Bancorp said increased oversight of commercial real estate contributed to — and may have accelerated — its decision to sell to People's United. Other banks could make a similar choice.

New York's landmark Waldorf Astoria hotel is scheduled to close in spring 2017 so owner Anbang Insurance Group Co. can begin converting most of the more than 1,400 rooms to luxury condominiums.