Monday, September 30, 2013

MBA Releases Commercial/Multifamily Quarterly Data Book for Q2 2013

WASHINGTON, DC -- The Mortgage Bankers Association (MBA) released its second quarter 2013 Commercial Real Estate/Multifamily Finance Quarterly Data Book.

To download a free copy, click here.

The report includes a summary of major trends and detailed charts and tables that provide current and historical information on the economy and commercial/multifamily real estate markets. Among the findings covered in the Data Book.

-       The U.S. economy grew at a seasonally adjusted annual rate of 2.5 percent in the second quarter, well above the 1.1 percent growth in the first quarter.

-       Commercial and multifamily mortgage originations were seven percent higher than during the second quarter last year and 36 percent higher than the first quarter of 2013.

-       The level of commercial/multifamily mortgage debt outstanding increased by $24.5 billion, or one percent, in the second quarter of 2013, as three of the four major investor groups increased their holdings.

-       Delinquency rates for commercial and multifamily mortgage loans declined in the second quarter of 2013. 

MBA’s Quarterly Data Book compiles the most up-to-date information on topics of interest to commercial/multifamily real estate finance industry professionals, including trends in the economy, property sales, originations, delinquencies and mortgage debt outstanding.

For a complete copy of the company’s news release, please contact:

Matt Robinson
 (202) 557-2727


Jay Brinkmann Leaving MBA Early Next Year

Jay Brinkmann

 Washington, DC (Sept. 30, 2013)– David H. Stevens, President and CEO of the Mortgage Bankers Association (MBA), announced today that MBA’s chief economist, Jay Brinkmann, will be retiring in early 2014.  Dr. Brinkmann has been with MBA since 2001 and has served as the association’s chief economist since 2008.

“Having the opportunity to work for the mortgage industry through all of the changes of the last 13 years, not to mention becoming MBA’s chief economist at the onset of the recession, has been a tremendous but exhausting experience,” said Brinkmann. 

Marina Walsh
“My wife Nancy and I own an historic old home in New Orleans and we have decided that the time has come to relocate down there on a more full-time basis to be closer to family, especially our new grandson, and to see if we still remember how properly to boil a pot of crawfish.

“I am looking forward to seeing what it is like to trade the sturm und drang of daily life in Washington for the luxury of reading the Wall Street Journal on my front porch while the streetcars roll by.”

Jamie Woodwell
“I want to thank three people who have been my principal deputies for most of the time I have been here, Marina Walsh, Jamie Woodwell and Mike Fratantoni,” continued Brinkmann.

 “Each has expertise that is of tremendous value to the industry and their hard work has made my job immensely easier.  I also want to say what a great pleasure it has been to work with Dave Stevens since he arrived on the scene."  

  For a complete copy of the company’s news release, please contact:

John Mechem
(202) 557-2924

NAIOP Central Florida Presents:P3 Legislation

Dubsdread Ballroom, 549 West Par Street, Orlando, FL
Orlando, FL–The Central Florida Chapter of NAIOP will be exploring the creation of the new Public-Private Partnership (P3) legislation. An expert panel will discuss the nuances of this delivery system that make it unique.

Who:   Florida citizens to include: architects, engineers, contractors, attorneys, bankers and real estate brokers and developers.

Why:   To engage professionals in a discussion on the P3 Legislation (which became law on June 27, 2013).  Panelists will explain how to employ it successfully, the economic affects to each partner in the P3, the net effect for private sector developers and support professionals and the benefits to Florida citizens.

Where: Dubsdread Ballroom, 549 West Par Street, Orlando, FL 32804

 When:  Thursday, October 10th | 11:30AM Registration & Networking |
12-1:00PM Lunch & Program

Cost:   Member $45 | Developing Leader $35 | Non-Member $65 | Student $25 |   Media COMP

 NAIOP Central Florida is the leading organization for developers, owners and related professionals in office, industrial and mixed-use real estate, with 15,000 members in North America. NAIOP advances responsible commercial real estate development and advocates for effective public policy.

  For a complete copy of the company’s news release, please contact:

Claire Pagán
Marketing Specialist | Crossman & Company
3333 S. Orange Ave. Suite 201 | Orlando, Florida 32806

407.423.5400 main | 407.581.6223 direct | 352.348.3066 cell

40th Condo Tower Proposed For Greater Downtown Miami Since 2007 Crash

Rendering of planned Brickell CityCenter,  Downtown Miami, FL

Josh Merkin
MIAMI, FL -- As the South Florida condo market increasingly rebounds from the last real estate crash to devastate the tri-county region, the Hong Kong-based development company Swire Properties has announced plans for what amounts to the 40th new condo tower proposed for Greater Downtown Miami since 2007, according to a new report from

Swire Properties has unveiled plans to add a fourth new condo tower with fewer than 400 additional units to its previously proposed nearly $1.1 billion Brickell CityCenter mixed-use complex with seven towers and 5.4 million square feet of "gross floor area" in the Brickell Avenue Area of Greater Downtown Miami, according to company statement.

"Under Miami 21 zoning, residential development of the One Brickell CityCentre site would be permitted as of right and would allow over 400 units to be developed," said Brickell CityCentre spokesman Josh Merkin of RBB Public Relations. "Swire’s development plan for One Brickell CityCentre is yet to be finalized but will include fewer residences than a stand-alone condominium tower."

The newest tower is slated stand 80-stories tall on a 1.6-acre site located at 700 Brickell Ave. that was acquired for $64.1 million - or nearly $950 per square foot - in a deal that transacted on July 15, 2013, according to Miami-Dade County records.

For a complete copy of the company’s news release, please contact:

Condo Vultures® LLC
225 Midtown Building
225 NE 34th St.,
Suite 209B,
Downtown Miami, Florida, 33137.

W Guangzhou’s I by Inagiku launches city’s first al fresco in China

I by Inagiku Chef Eiji Nakamura 
Guangzhou, China (Sept. 30, 2013) -- I by Inagiku at W Guangzhou is delighted to introduce “Crazy Hour,” the city’s first al fresco happy hour.

I by Inagiku
at W Guangzhou Hotel
 With a twist on the traditional happy hour, Crazy Hour is a relaxing afternoon Japanese-infused BBQ in I by Inagiku’s lush outdoor garden complete with a selection of Japanese beers and grooves to suit the mood. 

With its prime location in the midst of Guangzhou’s busy business and shopping district, Crazy Hour will undoubtedly become a daily after-work treat for the area’s business professionals, trendsetters and visitors.

 Each weekday from 5:30pm – 8:00pm, I by Inagiku Chef Eiji Nakamura will fire up the BBQ and present a delectable assortment of grilled Japanese skewers along with a selection of favorite Japanese and European beers.

For a complete copy of the company’s news release, please contact:

Hwee Peng Yeo
Director of Asian Markets
Glodow Nead Communications
Level 21, Centennial Tower
3 Temasek Avenue
Singapore 039190