Multifamily Distress Strikes Arbor Realty; Miami-Area Mall Loan Hits Special Servicing; Power South Florida

Multifamily Distress Strikes Arbor Realty; Miami-Area Mall Loan Hits Special Servicing; Power South Florida This week , fourth-quarter earnings show Arbor Realty Trust feeling the heat from higher interest rates, with the longtime multifamily lender saddled with 16 nonperforming loans. Meanwhile, a CMBS loan backing the Miami International Mall hits special servicing, and Starwood Capital and Artisan Ventures default on an L.A. area office loan. Finally, check out our annual Power South Florida list, which showcases the biggest commercial real estate players in the Sunshine State. Multifamily Distress Weighs on Arbor Realty Trust’s Loan Portfolio The longtime Sun Belt multifamily lender reported 16 nonperforming loans with a carrying value of $262.7 million in the fourth quarter, according to its latest earnings report. [Read More](   Top Deals Of The Week   - Florida East Coast Realty Refis [Miami](Panorama Tower With $420M Loan - Northwind Group Provides $111M [Takeout Financing]( on Houston Condo - JPMorgan, First Citizens Lend $75M on [Manhattan Resi Tower]( - Argentic [Supplies]( $65M Acquisition Loan on Pennsylvania Distribution Center - Petros Supplies $27M [C-PACE]( Loan on Chicago Multifamily Development   Guest Column   Dig Deeper to Understand Black Americans’ Influence on Commercial Real Estate Black History Month in February provides the commercial real estate industry a chance to reflect on the role of African Americans in relation to the built environment, writes G. Lamont Blackstone, acting executive director of Project REAP. [Read More]( Q&A   BGO Co-CEO John Carrafiell On Using Data to Nail Real Estate Investment BGO co-CEO John Carrafiell says his firm feasts on hard data to score in unlikely assets (like cold storage) and areas (like Japan). [Read More](   Other Stories From This Week   Cushman & Wakefield Reports Broad Revenue Losses in Q4 Earnings Call The 106-year-old brokerage reported a 6 percent decline in annual revenue during its fourth-quarter 2023 earnings call Tuesday, citing double-digit annual declines in its leasing, capital markets and valuation businesses. [Read More]( CBRE Reports Strong Q4 Earnings With Nearly $32B in 2023 Revenue The global brokerage powerhouse reported strong fourth-quarter earnings with quarterly revenue rising year-over-year and 2023 total revenue reaching nearly $32 billion, an increase of 4 percent on the year. [Read More]( CMBS Loan on Miami International Mall Hits Special Servicing A $159 million commercial mortgage-backed securities loan on Simon Property Group’s Miami International Mall in Doral, Fla., transferred to special servicing following its Feb. 6 maturity date, with the borrowers now seeking a modification and extension agreement. [Read More]( Starwood, Artisan Ventures Default on L.A. Office Loan Starwood Capital and Artisan Ventures could soon lose control of a 257,000-square-foot office building in suburban Los Angeles after defaulting on a $84.8 million acquisition loan from MetLife Investment Management. [Read More]( Power South Florida Find out who made Commercial Observer’s list of the hottest commercial real estate players in South Florida. [Read More]( Developers Confront Less Demand for New York City Industrial Space Industrial leasing has started to slow in New York City as e-commerce retailers pull back from their full-court press to find more distribution spaces in the region. [Read More]( What We're Reading This Week   - Bad property debt [exceeds]( reserves at largest US banks [Financial Times] - HSBC[slashes]( commercial property exposure in U.S., U.K. to limit losses [Bloomberg] - Fed officials expressed [caution]( about lowering rates too quickly at last meeting, minutes show [CNBC]   [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 02/22/2024