Women Leaders Ascend at Wells Fargo, Fed Pauses Again and CRE Confronts Contagion Risks

Women Leaders Ascend at Wells Fargo, Fed Pauses Again and CRE Confronts Contagion Risks This week, Wells Fargo’s Kara McShane and two of her women leaders walk us through their journey to the top; the commercial real estate industry reacts to persistent higher interest rates; a Lower Manhattan Class B office property hits special servicing; and an Upper West Side mixed-use building nabs a loan extension. Wells, Wells, Wells (Fargo): Kara McShane’s Women Leaders On Their Rise to the Top Kara McShane has accomplished great things within Wells Fargo’s CRE lending business, including bringing numerous women to the top. [Read More](   Top Deals Of The Week   - Speedway Commerce Center Lands [$756M]( Loan Package Led By Bank OZK - Bank OZK Leads $413M Construction Financing on [Tacoma]( Logistics Project - Dwight Mortgage Trust [Refis]( Brooklyn Resi Tower With $108M Loan - Peachtree Group Recaps [Silicon Valley]( Hotels With $103M Loan - Lotis [Lands]( $44M in Financing for The Square & Residences in Wellington, Fla. - Scale Lending Makes $140M [Construction Loan]( on Brooklyn Multifamily Building - Deutsche Bank Refis [Charlotte]( Mixed-Use Tower With $72M Loan   Q&A   Brought to You by Prologis: West Coast Leader Talks New Industrial Market Megan Creecy-Herman, who runs the warehouse giant’s Western U.S. operations, talks about the industrial market’s near- and long-term prospects. [Read More]( People Moves   Freddie Mac Picks President Mike Hutchins as Interim CEO Michael T. Hutchins, Freddie Mac’s president since 2020, will temporarily step into the CEO role, the government-sponsored enterprise announced. [Read More](   Other Stories From This Week   Fed Pauses Interest Rates for Fifth Straight Meeting, But Maintains Three Cuts Will Occur in 2024 Commercial real estate transaction activity will likely remain in a holding pattern after the Federal Reserve stayed the course Wednesday with its “higher for longer” interest rate policy, keeping rates steady for a fifth consecutive meeting. The central bank did, however, offer some hope for the future by maintaining its outlook for three cuts in 2024. [Read More]( Commercial Real Estate’s Systemic Threat: Separating Fact From Fiction There's a lot of noise about the commercial real estate sector falling ill and infecting the rest of the U.S. economy. [Read More]( Jacob Chetrit, Stellar Management Seal $370M Loan Extension for Columbus Square The loan is collateralized by the retail and commercial portion of the Upper West Side property [Read More]( How Moody’s Ermengarde Jabir Approaches CRE Economics in a Volatile Time Ermengarde Jabir's rise to a senior economist role at Moody's came after initially eyeing a career as a dermatologist. [Read More]( CMBS Loan Securing Former American Express Building Hits Special Servicing A $151.5 million commercial mortgage-backed securities loan backing a Class B office property at 65 Broadway in Lower Manhattan has entered special servicing ahead of its April 2024 maturity date, according to a report from Morningstar. [Read More]( What We're Reading This Week   - America’s [Office Fire Sale]( Has Barely Begun [WSJ] - Once America’s Hottest Housing Market, [Austin]( Is Running in Reverse [WSJ] - BofA’s CEO Says Commercial Real Estate Will Be [‘Slow Burn](’ [Bloomberg]   [View in Browser]( | [Advertise]( | [Forward to a Friend]( [Manage your email preferences or unsubscribe]( [Share your thoughts: Help us improve with our quick feedback survey!]( [Commercial Observer]( © Copyright 2024 [Observer Media]( 1 Whitehall Street, Floor 7, New York, NY 10004 This newsletter was published 03/28/2024