Investments

NXT Capital gets financial boost as ORIX completes acquisition of lender

NXT’s real estate division funds multifamily, office, student housing, more
NXT Capital, a lender that provides financing for the acquisition of multifamily, office, retail, industrial, hotel, student housing, and other corporate dealings, has more financial backing to grow its business now that it's under the umbrella of ORIX Corp. USA.
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Is the U.S. rental market tilted against low-income renters?

A panel of experts explores the issue in a roundtable conversation at Wharton School
Is the U.S. rental market helping to increase inequality? More and more, Americans are turning to renting out of necessity, as the first rung of the property ladder is pulled farther and farther from the ground. But now, thanks to the gargantuan demand for rental units, even finding a rental dwelling is becoming less and less affordable for low-income earners.
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GDP growth even stronger than last quarter

But gross domestic income slowed considerably
As it turns out, real gross domestic product increased at an annual rate of 4.2% in the second quarter of 2018, according to the revised, second estimate released by the U.S. Bureau of Economic Analysis.
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SEC hits Moody’s with $15 million fine over mortgage bond ratings

Credit ratings agency will also pay $1.25 million for “ratings symbol deficiencies”
In the wake of the financial crisis, the country’s largest credit ratings agencies all touted new ratings methodologies that were, in theory, designed to guard against the sorts of malfeasance that surrounded mortgage bond ratings in the run-up to the crisis. But it looks like the new mortgage bond rating system at one of the nation’s largest credit ratings agencies was far from perfect.
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Pure Multi-Family REIT just took itself off the market

Is Pure deciding to go down with the ship? Or is it holding out for redemption?
Just four months after putting itself up for sale, Pure Multi-Family REIT is taking itself off the market. Following an unsuccessful courtship process with 86 potential buyers, the Canadian real estate investment trust, which invests in institutional quality U.S. multifamily real estate assets, is embracing the solo life, for now.
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Moody’s downgrades JPMorgan prime jumbo residential mortgage loans

But Chase says new rating based on incomplete information
Moody’s announced it is downgrading its assessment for JPMorgan Chase’s jumbo residential mortgage originator from strong to above average. This change was driven by a significant increase in loans acquired from Chase’s correspondents with delegated underwriting authority. But Chase disputed the downgrade, saying it was based on insufficient information.
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NIMBYism is depressing multifamily developers

“Not In My Backyard” is keeping some developers from building
Multifamily developers’ confidence in the health of the market fell over the last few months, thanks to a combination of factors, including the threat of rising construction costs due to tariffs and NIMBYism standing in the way of new multifamily developments getting off the ground.
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Aussie invasion? Two Australian financial giants plan to build $2 billion U.S. multifamily portfolio

U.S. multifamily's strong performance is attracting new foreign investment
U.S. multifamily has had the favor of U.S. investors for quite some time, but it seems tales of its boons have stretched to the land down under. Australian companies Lendlease and First State Super are teaming up to invest some serious capital in U.S. multifamily assets.
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Rentlogic raises $2.4 million in seed funding to grade NYC apartment buildings

Proptech startup is latest in a string of startups receiving attention from investors
Rentlogic, a tech platform utilizing an algorithm and public data to grade New York City residential buildings just closed a $2.4 million seed funding round. Funding came from Urban-X, Urban.Us and Edgar Bronfman Jr., and Rentlogic intends to use the funds to expand its operations and its sales team.
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