From: Bentley Real Estate Group
Date: November 11, 2024
Subject: FED CUTS RATES - BREG Newsletter (11/11/24)


Latest Stories


Federal Reserve cuts interest rates by a quarter point
The Federal Reserve reduced its benchmark interest rate by 0.25% to 4.50%-4.75%, aiming to balance inflation control with employment support amid a slowing economy. This unanimous decision reflects a shift towards a less aggressive monetary policy, following a larger cut in September. (Learn More)

Mortgage rates surge higher on Trump victory, causing housing stocks to fall
Following President-elect Donald Trump’s victory, the average rate on a 30-year fixed mortgage rose by 9 basis points to 7.13%, the highest since July. This increase followed a surge in the 10-year Treasury yield, to which mortgage rates are closely tied. Housing stocks responded negatively, with shares of major builders like Lennar, D.R. Horton, and PulteGroup dropping over 4%, while Home Depot and Lowe’s also fell. (Learn More)

Multifamily Market Set for Modest Rebound as Fed Rate Cuts Ease Pressure
A potential modest rebound in the multifamily market as recent Federal Reserve rate cuts reduce borrowing costs and ease financial pressures. Multifamily deal flow, stagnant since rate hikes began in 2022, is expected to improve, with refinancing opportunities opening up. (Learn More)
 

Deal of the Week

Osso Capital Purchases Canal District Lofts From Berkeley Investments For $122 Million
Berkeley Investments sold the Canal District Lofts, a loft-style complex in Lawrence, MA, to Osso Capital for $122 million. The sale includes 180 apartments in historic mill buildings, originally part of a $98.5 million five-building acquisition by Berkeley in 2021.

Summary of transaction details:

  • Date: 11/04/2024
  • Market: Lawrence, MA
  • Property Type: Multifamily
  • Transaction Amount: $122,000,000
  • Units: 240
  • Price Per Unit: $508,333
  • Buyer: Olivia John - Osso Capital
  • Seller: Young Park - Berkeley Investments

Read more: https://traded.co/deals/massachusetts/multifamily/sale/240-canal-street/
 

Upcoming Events

November 20 - Underwriting and Valuations (9:15 PM @ LaCava 305AB)
December 4 - The Stubblebine Company Guest Speaker (9:15 PM @ LaCava 325ABC)

Officers
President - Elie Safi
Vice President - Adam Fuller
Vice President - Sam Walters
Treasurer - Kartikey Brahmbhatt
Marketing Chair - Adithya Vaswani
Research & Education Advisor - Calvin Monte
Research & Education Advisor - Lorenzo Lopez
Freshman Liason - Grace Taylor
Freshman Liason - Natalie Barrett
Senior Advisor - James Mullen
Senior Advisor - Henry Bourgeois

EVENT

BREG Underwriting and Valuations Event

Wednesday, November 20, 2024
9:15pm - 10:15pm
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Hands-on learning about how to finance real estate acquisitions and purchases and effectively value pieces of property.

Food and drink will be provided.
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