NYCB’s Downward Spiral, JLL’s New Approach, and Loans!

NYCB’s Downward Spiral, JLL’s New Approach, and Loans! This week, we take you inside the chaos unfolding at New York Community Bank, as the stock price dropped below $2 today and whispers of an imminent failure get louder with each tick down in the bank’s share price. CO’s Brian Pascus examines how a combination of regulatory pressure and the bad luck stemming from 2019 New York State legislation have sowed the seeds for the bank’s current troubles. We also have an in-depth conversation with JLL Chairman Peter Riguardi and some of his New York team on how his brokerage is using the methods of top investment banking houses to remake commercial real estate brokerage through the firm’s “One JLL” approach. If that’s not enough, Celia Young gives us a detailed look at how and why some of the largest names in commercial real estate have changed jobs in the last year (it’s not all pretty!). Finally, there’s a bevy of loans for you to sink your teeth into, none larger than a $165 million refi by Affinius Capital on an Ohio multifamily portfolio. Until next week, dear reader! Trading Halted for New York Community Bank: What Comes Next? The $110B bank is fighting for its life this week after the stock price fell below $2 Wednesday. [Read More](   Top Deals Of The Week   - Affinius Capital Provides [$165M Refi]( for Three Columbus Multifamily Properties - Kennedy Wilson Supplies $96M Loan for Alexandria [Office-to-Resi Conversion]( - Apollo Global Real Estate Provides $97M Refi for [Queens]( Luxury Multifamily - New York Life Insurance Company Provides $83M for[NJ Industrial Facility]( - UMB Bank Loans $79M for [Transitional Housing]( in Flushing - $28M [CMBS Loan]( Secured by Manhattan Mixed-Use Property Sent to Special Servicing - Cross River Provides $24M Loan to Redevelop Derelict [Sears Building]( in Brooklyn   Q&A   EagleBank CEO Susan Riel On Regional Banking and CRE Lending in 2024 EagleBank CEO Susan Riel discusses rise as a commercial real estate banker and changes to the bank's business model. [Read More]( People Moves   Darcy Stacom’s New Firm Set to Launch April 1 ‘The Queen of Skyscrapers’ is searching for office space and new hires. [Read More](   Other Stories From This Week   One For All: JLL’s New Investment Banking Approach to Brokerage Peter Riguardi, lead executive in the brokerage giant’s New York office, and other top JLL leaders explains what it means for the client to pivot to the new JLL. [Read More]( New York Community Bank Ousts CEO (Again), Receives $1B Lifeline From Investors Former Treasury Secretary Steven Mnuchin and other wealthy investors are attempting to stabilize the reeling commercial bank. [Read More]( What If the Fed Doesn’t Cut Interest Rates in 2024? Fed Chairman Jerome Powell gave the capital markets a reality check when he said the timing of any future rate cuts would hinge on the central bank “gaining confidence that inflation is on a sustainable path down to 2 percent.” [Read More]( It’s Commercial Real Estate’s Busiest Era of Big-Name Turnover in 20 Years Commercial real estate has always been made up of movers and shakers. But these days the industry’s biggest names in brokering, management and lending have been doing a lot of moving in large part due to a shaky market. [Read More]( Northern Virginia’s ‘Missing Middle’ Housing Reforms Run Into Lawsuits Opponents of zoning changes in Arlington and Alexandria that would add dozens of housing units over several years say changes are happening too fast. Supporters say change is long overdue. Can the two sides in the Missing Middle debate find a middle ground? [Read More]( BGO Banks on SFR With 1Sharpe Capital Strategic Partnership BGO has formed a strategic partnership with 1Sharpe Capital aimed at investing in build-to-rent, single-family home communities across the U.S., the company announced Wednesday. [Read More]( What We're Reading This Week   - [NYCB]( ballooned despite real estate warnings in years before fall [Bloomberg] - The [problem]( isn’t big banks — it’s banks getting bigger [WSJ] - Biden vs. Trump: A familiar matchup in an unprecedented [election]( [WSJ]   [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 03/07/2024