Oklahoma’s two largest cities were both ranked as top ten cities for first time homebuyers according to SmartAsset.com
Oklahoma City was ranked second and Tulsa was ranked fifth, other cities included Wichita, Fort Worth and Louisville, Kentucky.
Oklahoma’s low cost of living continues to provide an appealing option for locating or expanding businesses.
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Family offices have seen a slight dip in real estate allocations, but new data suggests they’re still sold on the asset class as an investment target.
In a global report from UBS and Campden Research, family offices indicated they’re “rather optimistic” about the future of real estate as an asset class, “despite a somewhat weaker performance in 2016.” Forty-five percent of those surveyed planned to maintain real estate investments going forward, with 40 percent eyeing an increase in such investments.
Although direct investment in real estate by family offices declined by 0.7 percent from 2016 to 2017, the asset class remains the third largest in the average family office portfolio around the world, the UBS-Campden Research report says. In North America, the asset class represents 10 percent of family office portfolios.
View entire article here in National Real Estate Investor.
Broken Arrow is the United States’ 29th best city for residents, according to a story in Friday’s USA Today.
Low crime, affordability and a healthy economy all helped the city of about 110,000 make the list, which also included Edmond at No. 35.
“This is a great accolade for our community,” Wes Smithwick, Broken Arrow Chamber of Commerce president and CEO, said in a statement. “It is no secret that the population of Broken Arrow is growing. Population growth does not occur without job growth, which leads to our healthy economy and the ability to attract new residents.”
Hunt Ventures Plans $100 Million Development in Pinnacle Hills
Hunt Ventures and an Oklahoma City group will partner to build a 15-acre, $100 million mixed-use development in Pinnacle Hills in Rogers.
Tom Allen, executive vice president of Sage Partners, the real-estate arm of Hunt Ventures, said the partnership hopes to get final approval of the plans by the end of year with the first phase of construction to begin in the first quarter of 2018. The development, at the northwest corner of the roundabout intersection of Pauline Whitaker Parkway and Pinnacle Hills Parkway, initially will feature a 296-unit apartment complex, a boutique hotel and 26,000-SF of retail space.
Hunt Ventures is partnering with Urban5 Development, a subsidiary of Burnett Equity. Andy and David Burnett, who lead Burnett Equity, are experienced developers of multi-family properties.
View entire article here in Arkansas Business Journal
Banks and alternative lenders are not shying away from commercial real estate debt in the tail end of this cycle. Flickr/401(K) 2012 Lending continued to climb moderately in the second quarter, thanks in part to a large jump in commercial mortgaged-backed securities debt. Capital markets remain favorable, pushing lending volume up across all major groups, CBRE reports. CMBS issuance jumped in Q2 to $38.8B year-to-date, well above the $30.7B in CMBS debt issued at the same period last year. “The overall lending environment is well supplied with debt capital from all sources; CMBS, life companies, banks and alternative lenders are all actively issuing bridge and permanent financing quotes,” CBRE Capital Markets Global President Brian Stoffers said in a statement. “The recent surge in CMBS mortgages demonstrated that these lenders are becoming increasingly comfortable with risk-retention rules that kicked in at the end of last year.”
According to CBRE, commercial real estate lending in the U.S. continued to grow in Q2 2017, led by a surge in CMBS mortgages.
Despite an increase in short-term interest rates by the Federal Reserve in June, capital markets remained favorable in Q2 2017, with rising equity prices, tight spreads and limited volatility.
The CBRE Lending Momentum Index, which tracks the pace of U.S. commercial loan closings, shows that loan closings edged higher between March and June, and are 27% above the year-earlier level. Volume improved across all major lending groups, as capital is readily available, with CMBS conduits leading all other lenders in terms of market share.
Reflecting the favorable capital market environment, CMBS issuance revived in Q2 2017, lifting year-to-date issuance to $38.8 billion and well ahead of 2016’s pace of $30.7 billion. CMBS conduits accounted for 36% of non-agency origination activity in Q2 2017, well above their 16% market share in Q1 2017 and 10% market share a year earlier. While the increase included a large Manhattan office loan in Q2 2017, it generally reflects stronger industry wide CMBS origination volumes.
View entire article here in National Real Estate Investor