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Mid Atlantic R eal E state J ournal Publisher ............................................................................ Linda Christman Publisher ............................................................................... Joe Christman Section Publisher .................................................................... Steve Kelley Associate Publisher .............................................................Alissa Aronson Associate Publisher ..........................................................Barbara Holyoke Senior Editor/Graphic Artist .................................................Karen Vachon Production Assistant ....................................................................Julie King Office Manager .................................................................... Joanne Gavaza Contributing Columnists ......... Mark Scott, Commercial Mortgage Capital; David Goldfisher, The Henley Group, Inc. Mid Atlantic R eal E state J ournal — Published Semi-Monthly Periodicals postage paid at Rockland, Massachusetts and additional mailing offices Postmaster send address change to: Mid Atlantic Real Estate Journal, 312 Market St. Rockland, MA 02370 USPS #22-358 | Vol. 27 Issue 5 Subscription rates: $99 - one year, $198 - two years, $4 - single copy REPORT AN ERROR IMMEDIATELY MARE Journal will not be responsible for more than one incorrect insertion Toll-Free: (800) 584-1062 | MA: (781) 871-5298 | Fax: (781) 871-5299 www.marejournal.com The views expressed by contributing columnists are not necessarily representative of the Mid Atlantic Real Estate Journal
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I n the wake of The Mort- gage Bankers Associa- tion ’s (MBA) Commer- cial Real Estate/Multifam- ily Housing Finance (CREF) conference, which was held at the Manchester Grand Hyatt in San Diego in early February, we noted several takeaways – namely that the market is currently in full swing and competition is heating up between lenders, all of whom are raising their targets. CMBS shops are also back in business and I’m see- ing Life Company lenders put out long-term 20/20; 30/30; 40/40 and even 50 year fixed rate self-liquidating money. However, given that there are serious questions regarding the health of the overall econ- omy, and the fate of interest rates remains uncertain, the next 60 days are undoubtedly the best timeframe in which to get deals done in 2015. The Mortgage Bankers As- sociation released a number of reports during the conven-
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tion, one of which projects originations of commercial and multifamily mortgages will grow to $414 billion in 2015, an increase of 7% from 2014 volumes, and continue to rise to $430 billion in 2016. Multi- family mortgages originated by mortgage bankers are fore- cast to be $152 billion in 2015. “Commercial and multi- family real estate finance markets are strong,” said Jamie Woodwell , MBA’s vice president of Commercial Real Estate Research. “Rising property values, improving property fundamentals, low interest rates and higher loan maturity volumes should all help boost mortgage borrow- ing and lending in the coming
continued on page 4A Meanwhile, 8%, or $121.0 billion of $1.5 trillion, of out- standing commercial and mul- tifamily mortgages held by non-bank lenders and inves- tors will mature in 2015, a 32% increase from the $91.7 billion that matured in 2014, according to the MBA’s 2014 Commercial Real Estate/Mul- tifamily Survey of Loan Matu- rity Volumes. Maturities will grow to $223 billion in 2016, year.” In addition, the MBA noted that commercial/multifamily mortgage debt outstanding is expected to continue to grow in 2015, ending the year at $2.7 trillion, more than 3% higher than at the end of 2014.
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