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.
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.
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 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 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.