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Seven Must Reads for the CRE Industry Today (Jan. 28, 2022)

U.S. apartment rents were on average 10.1 percent higher in 2021 than the year prior, according to CNN Business. Blackstone has doubled its quarterly earnings in the fourth quarter, led mostly by its real estate assets. These are among today’s must reads from around the commercial real estate industry.

  1. Rising Interest Rates and What’s Next for Multifamily Lending “Multifamily investors are bracing for an uptick in mortgage rates and other forms of real estate finance as the Federal reserve bumps up interest rates in 2022. As an inflation-fighting move, the Fed plans three hikes of 25 basis points each. And in December, the Fed announced that it would wind down its bond-buying program by March. But the consensus among mortgage bankers and economists is that increases in the cost of capital will be modest and will not dampen the availability of financing or the surge of investment.” (Multi-Housing News)
  2. Rents in U.S. Rose Five Times Faster in 2021 Than in 2020 “Rents are continuing to rise across the US. The cost of rent, on average, was 10.1% higher in 2021 than in 2020, growing five times faster last year than it did in the first year of the pandemic, according to's Monthly Rental Report. By December, national rents had the sixth-straight month of double-digit annual increases. The national median rent for a one-bedroom in December was $1,651, up 19.3% over the year before.” (CNN Business)
  3. Blackstone Quarterly Earnings Double, Led by Real Estate “Blackstone earnings doubled in the fourth quarter, led by its real estate portfolio, which the firm said is insulated from inflation.” (The Real Deal)
  4. Developers Are Leveraging Ground Lease Structures to Fund Construction “We may be nearing the third year of the pandemic, but lenders remain hesitant to fund new developments, particularly in de-stabilized assets like hotels, retail and office. To secure construction financing, developers are leveraging ground leases, which serves as an alternative way to secure early capital and de-risk the deal to get lenders more comfortable.” (
  5. Roofstock Ramps Up iBuying, Even with Tenants in Place “Roofstock’s iBuying model involves purchasing single-family homes even while tenants living in them — an unconventional approach.” (The Real Deal)
  6. Ex-NYPD Commissioner Shea Lands Leadership Role at Related Companies “Former New York City Police Department Commissioner Dermot Shea, who served as the top cop the last two years of former Mayor Bill de Blasio’s second term, is making a dramatic pivot from law enforcement to real estate after landing a role at Related Companies.Shea will serve as president of commercial property management for Related, a role  the firm says will allow him to manage operations for commercial and mixed-use properties in the city, as Bloomberg first reported.” (Commercial Observer)
  7. Metaverse Real Estate Isn’t Really Land—It’s a ‘Risky’ Crypto Asset That’s Nothing Like the Real Thing “People are pouring hundreds of millions of dollars into metaverse land, but experts told Insider it's not the same thing as real-world real estate.” (Insider)
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