Berkadia enjoyed a major nod from The Mortgage Bankers Association last September, ranking among the top five firms in the country for commercial and multifamily mortgage services volume. The MBA also highlighted Berkadia’s status as the country’s leading servicer of FHA & Ginnie Mae loans.
Industry Influencers highlights how our peers in the commercial real estate industry utilize Berkadia’s market-leading research and leverage the expertise of our talented advisors. This week’s update covers September 1-September 30.
Hotel Business Honors Hotels & Hospitality Group’s Strong Week
Detailing the month’s most newsworthy transactions across the hotel industry, Hotel Business congratulated Berkadia’s Hotels and Hospitality Group for a recent string of financing deals handled by Senior Managing Director Andy Coleman and his team. Coleman and his team caught the publication’s eye after closing nearly $650 million in financing across six property transactions during the first week of September.
“Berkadia’s Hotels & Hospitality Group has closed $646 million in financing through six separate transactions related to properties across five states in the seven days from August 29 to September 5.
The pillars of the deal activity were financing arranged for the new Fairmont Austin in Texas and a private portfolio of urban hotels, which accounted for nearly 90% of the total transaction volume.”
- Austin Maintains Booming Growth – Austin’s expanding population and thriving economy are a boon for hotel growth and multifamily development alike. During the third quarter of 2019, effective rent in the area increased annually by 4.0% to $1,368 per month. Review Berkadia’s third quarter Austin Multifamily Report for more insights into the metro’s latest surge in development.
Bisnow Reaches Out to Berkadia for Perspective on Opportunity Zones
Bisnow recently broke down how metros with major university presence are uniquely positioned to take advantage of Opportunity Zones, leveraging data directly from Berkadia and Axiometrics. The story also quoted Berkadia Director of Student Housing Greg Gonzalez, sharing his analysis of the state of the market.
“Many college towns seem to have benefited from Opportunity Zone designations, and owners are trying to figure out how to take advantage of those designations,” Gonzalez said. “The regulations are still coming into focus, but it will be largely beneficial for new development or heavily blighted value-add that can meet the required regulations.”
- Our recent interview with Directors of Student Housing Greg Gonzalez and Kevin Larimer touches on several major trends in student housing, including new enrollment patterns.
- Chicago’s South Lakefront and Los Angeles’ Koreatown are just a few of the red-hot Opportunity Zone submarkets we identified in one of our latest blog posts.