CRE

Lower corporate tax rates weakened the incentive for developers to use the Low-Income Housing Tax Credit program, which could prompt affordable housing construction to fall by as much as 40% by 2022, according to data aggregator Reis.

A Jacksonville, Ill., church facing foreclosure has a new lease on life after months of fundraising.

Commercial mortgage-backed securities delinquency rates are likely to continue to decrease for the rest of the year, as new issuances outpace maturing loans and precrisis loans continued to get resolved by special servicers, Fitch Ratings said.

Delinquencies for loans securing commercial mortgage-backed securities continued to decline, although they are still well above rates for other types of investors, according to the Mortgage Bankers Association.

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.