Each Wednesday, The Wrap presents a compilation of recent noteworthy commercial real estate stories from a variety of publications. Below are links to five stories that caught our eyes in recent days:
Who’s Afraid of Multifamily? by Mark Heschmeyer, CoStar
Key excerpt:
“In a further potential boost to multifamily liquidity, Fannie Mae announced this week that it had issued $12.6 billion of multifamily mortgage-backed securities in the first quarter of 2016 compared to $10.4 billion in the same period last year.”
More Due Diligence Needed in Real Estate Deals, Advisor Says by Sarah Borchersen-Keto, REIT
Key excerpt:
“‘The biggest challenge in real estate transactions is simply not doing enough due diligence,’ [Steven] Moore said. He described the due diligence process as an opportunity to confirm an investment thesis, verify that what the purchaser underwrote is still there and identify any other problems that may come up at a later point.”
What Do Asset Managers and Investors Look for in a Property Manager? by Chris Mellen, National Real Estate Investor
Key excerpt:
“In the age of growing disintermediation, largely due to rapidly evolving technologies, on-site property-management presence will never go away. But with that comes the responsibility of making sure the tenant knows who you are.”
Upscale Shopping Centers Nudge Out Down-Market Malls by Suzanne Kapner, WSJ
Key excerpt:
“Mall owners disagree about whether the Internet is their main problem. They point to demographic changes that redirected population and income growth away from malls built years ago, along with a real estate glut that has left the U.S. with 24 square feet of retail space per person, compared with 15 for Canada, 10 for Australia and five for the U.K., according to the International Council of Shopping Centers.”
Short-Term Rentals: Navigating the New Economic Marketplace, by Morgan A. Stewart, Multifamily Executive
Key Excerpt:
“Rental and multifamily housing has now jumped on the sharing bandwagon with both feet. The number of people choosing to rent out their living space for short-term stays via Airbnb, VRBO, and other online community marketplaces is exploding. So, too, are the regulations, lawsuits, risks, benefits, and opportunities that accompany this kind of new and sparsely regulated ‘Wild West’ marketplace.”