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This Week in CRE: Chinese Investors Are Exiting U.S. CRE Market, Retail Exposure, January Jobs, Fannie Mae Lenders

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Chinese investors are exiting the U.S. commercial real estate market, with net purchases of U.S. properties dropping to their lowest point since 2012 even as the U.S. and China begin another round of talks to end the trade war between the two countries.

Investors from China, including insurance companies and conglomerates, sold $854 million in U.S. commercial real estate in Q4, the third consecutive quarter in which Chinese investors were net sellers of U.S. CRE, the Wall Street Journal reported this week.

The Lenders Exposed to Shopko’s Bankruptcy

This month’s bankruptcy filing by Midwestern retailer Shopko will affect CMBS, REITs and large and small balance-sheet lenders, explains CrediFi CEO Ely Razin.

Local banks exposed to the retailer include Wisconsin’s Park Bank and Pacific Premier Bank.

January Jobs

Companies added 213,000 jobs in January, according to management services company ADP.

The report provides a peek into Friday’s highly anticipated Labor Department unemployment report, which follows December’s blowout numbers.

Friday’s data will include government as well as private-sector jobs. Economists expect the report will show 174,000 jobs were added in January and that the unemployment rate will hold at 3.9%, MarketWatch reported.   

December’s larger-than-forecast addition of 312,000 jobs was the largest increase in payrolls since February.

London Edges Out NYC for Second Year in a Row

London is the leading global city for commercial real estate investment for the second year in a row, with New York City in the No. 2 spot after topping the list in 2016, according to a recent report by JLL.

The report found that Los Angeles slid down to No. 7 in 2018, right below Hong Kong.

Wells Fargo Tops Fannie Mae List

Last week we talked about CBRE topping Freddie Mac’s list of multifamily lenders. Now it looks like Wells Fargo is the lender that did the most business with Fannie Mae in 2018.

Wells Fargo Multifamily Capital led the pack, with $8.1 billion, followed by Walker & Dunlop at $6.9 billion and Berkadia Commercial Mortgage at $6.6 billion. CBRE Multifamily Capital was No. 4, with $6.1 billion in business.

Fannie Mae provided more than $65 billion in multifamily financing in 2018.

Related stories:

View from the Top Floor: Who’s Exposed to the Shopko Bankruptcy

Commercial Real Estate Investment in NYC Rises, But Not Enough to Beat Out London

The Billions in CRE Financing That the 2018 Hurricane Season Has Put at Risk

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Alex Veksler has 16 years of finance, data analysis and project management experience. He is a former vice president at Morgan Stanley, where he worked on product control of equity and fixed-income derivatives products as well as various projects involving finance and technology, such as revamping risk attribution and balance-sheet systems for profits and losses. Alex has previously worked at hedge funds, most recently as a director at Exigent Capital. He has a bachelor’s in computer science from Yeshiva University and an MBA from New York University.

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