Happy Friday! Before you head off to your weekend, read these commercial real estate articles covering projected CMBS issuance, the record number of skyscrapers erected last year and growing rent prices.
Projected CMBS Issuance for 2017 Under $80 Billion
Higher interest rates and more risk retention rules may bring up issuance in 2017. A number of firms have forecast approximately $75 billion in the coming year. The numbers sits between 2016’s $60 billion and 2015’s $90 billion.
More New Multimillion-Dollar Skyscrapers Rose in 2016 Than Any Other Year in History
Nearly 130 commercial buildings reaching over 655 feet or higher were erected in 2016, beating 2015’s record of 114. A whopping 84 percent were built in Asia, which remains the most populated area for skyscrapers.
Rent in December Soars to Highest Growth Since Start of Recession
Limited supply and growing demand pushed rent prices 4% higher in December, the highest rise in rates since the Recession. To learn more about how supply and demand affect the real market, read our piece on the commercial real estate cycle.