A working group of financiers and investors active in the UK build-to-rent residential sector has been assembled by industry body the Commercial Real Estate Finance Council (CREFC) Europe in a bid to promote greater awareness of the challenges of financing the fledgling sector.
CREFC’s autumn conference saw the trade body’s leading figures from both sides of the Atlantic ponder the fallout from the presidential election.
Pendergast, most recently head of CMBS Strategy & Risk at Jefferies, effectively replaces Steve Renna, former CEO and president of the industry group.
Though regulation and volatility have handed more business to non-bank real estate firms, some are finding lower returns then they had a couple years ago.
This year could mark the first year since the advent of commercial mortgage-backed securities that insurance company lenders take the upper hand in originations volume, delegates heard at the annual CREFC conference in Manhattan this week.
A panelist at the CREFC conference in Manhattan this week noted that he had recently visited a retail store to get a feel for a certain cooking pan, only to order it on Amazon.com on his way out the door.
After a dismal -- if not abysmal -- first quarter, where CMBS all but ground to a halt, the industry has some momentum as spreads have tightened and deal flow begins to pick up, delegates heard at the kickoff of the CRE Finance Council’s annual conference today in Manhattan.
Negative interest rates implemented by central banks are driving up the costs of real estate lending, the Commercial Real Estate Finance Council (CREFC) Europe has warned.
Top non-bank lenders believe they will continue to pull market share away from a stumbling CMBS market and a bank system mired by existing and pending regulations.
Nearly all individuals (98 percent) who responded to the CRE Finance Council’s annual Market Outlook survey expect CMBS spread volatility to continue in 2016, reflecting a range of geopolitical and other concerns.

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