In Thursday’s commercial real estate news – we’ll look at how hurricane Harvey will hurt Houston mortgage bonds already feeling pain from low oil prices, the CMBS Issuance doubles in the Second quarter leading to more positive outlook, the revision of the US second quarter growth, and more.
Harvey Hurts Houston Mortgage Bonds Already Feeling Oil Pain
Some $8.9 billion of loans packaged into commercial mortgage-backed securities since the financial crisis are supported by Houston-area offices, malls and hotels.
CMBS Issuance Doubles in the Second Quarter, Leading to More Positive Outlook
Market insiders now predict that issuance for the whole of 2017 will surpass 2016’s modest level of $69.3 billion.
U.S. Second-Quarter Growth Revised to 3% in Momentum Boost
Gross domestic product rose at a 3% annualized rate from prior quarter (est. 2.7%); revised from initial estimate of 2.6%.
Zacks: Analysts Expect Ares Commercial Real Estate Corporation (ACRE) Will Announce Quarterly Sales of $11.53 Million
Analysts forecast that Ares Commercial Real Estate Corporation (NYSE:ACRE) will announce sales of $11.53 million for the current fiscal quarter.