Whales and Sales and Fed Rate Hikes, Oh My!

Whales and Sales and Fed Rate Hikes, Oh My! This week, the Federal Reserve hikes its benchmark interest rate to a 22-year high and industry experts weigh in; Webster Bank sells off an $80 million loan portfolio; Apple Bank finances an office building in the Big Apple; and Commercial Observer takes a deeper dive into e-commerce’s role in humpback whale deaths around New York City. Fed Hikes Interest Rates to 22-Year High. Is This the Last Time? As economists predicted, Federal Reserve Chairman Jerome Powell raised the Federal Funds Rate 25 basis points Wednesday, bringing the benchmark interest rate up to between 5.25 percent and 5.50 percent in July. Chair Powell also didn't rule out another rate hike in the future— sorry, folks. [Read More](   Top Deals Of The Week   - Canyon Partners, JPMorgan Chase Lend $193M for [NYC Studio]( - Newmark Sells [$80M Commercial Loan Portfolio]( for Webster Bank - Apple Bank Provides [$30M Loan]( for LIC Office Property - Affinius Capital Originates $91M Loan for [Industrial Campus]( in Houston - Palladius Capital Management Provides [$15M Acquisition Loan]( on Jacksonville Warehouse - Graham Companies Land [$70M Financing](for 502 Miami Lakes Apartments     People Moves   JLL Adds Executives to Clean Energy Team in DC and Denver JLL is beefing up its clean energy and infrastructure advisory team. The firm added Robert Anderson, an expert in electric vehicle infrastructure, as senior vice president working out of the Denver office, and Jamare Bates as vice president working out of Washington, D.C. [Read More](   Other Stories From This Week   Blackstone Pays $162M for Broward County Warehouses Blackstone affiliate Link Logistics dropped $162 million on an industrial park in Deerfield, Fla., property records show.The largest building in the Quiet Waters Business Park, which cost $147 million. [Read More]( CMBS Realized Losses Climb in June CMBS transactions incurred approximately $41 million in realized losses during June via the workouts of distressed assets. [Read More]( Is E-Commerce Responsible for the Rise in Whale Deaths? As humpback whales visit New York waters in ever-increasing numbers, they’re also increasingly at risk from vessel strikes in shipping lanes. And, as the industrial sector continues to thrive, the commercial real estate industry is a part of the problem — although it’s largely unaware of it. [Read More]( How Cities Like New Orleans Blend Building Resiliency With Historic Properties In response to climate concerns, New Orleans has prioritized resilient, smart building strategies, as have other threatened cities across the world. [Read More](     What We're Reading This Week   - Don’t Look Up – Is There a [Commercial Real Estate Comet](Heading Our Way? [Forbes] - Bank Regulators [Urge Flexibility]( in Commercial Real-Estate Loan Workouts as Defaults Grow [WSJ] - The [Storms](Surrounding Commercial Real Estate [Bloomberg]   [View in Browser]( | [Advertise]( | [Forward to a Friend]( [Manage your email preferences or unsubscribe]( [Commercial Observer]( © Copyright 2023 [Observer Media]( 1 Whitehall Street, Floor 7, New York, NY 10004 This newsletter was published 07/27/2023