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Lenders perceive multifamily as the strongest and safest real estate asset class going forward. The agency lenders have been extremely aggressive on pricing with no changes in sight. Count on banks, life companies and CMBS lenders to become more aggressive on terms, specifically debt service coverage ratios and cash-out restrictions, in order to compete with More

This sale is one of the first garden-style apartments to sell upon completion and with no units leased in the Portland metro area. The sale closed upon Certificate of Occupancy, which was held up about three months due to COVID-19 related delays with contractors, suppliers and city inspectors. As it neared completion in September, there More

Count on an influx of developers wanting to repurpose big-box anchor mall spaces, specifically former Sears stores, into apartments. This trend has especially revved up as the coronavirus lockdowns are adversely affecting mall traffic. There are ample retailers and restaurant chains that are especially attracted to the big-box apartment conversion concept, as it means there More

Property: Hope Creek Nursing and Rehabilitation Center, 245-bed facility in East Moline, Ill. Buyer: Strawberry Fields REIT LLC Seller: The County of Rock Island Price: $4M, $16.3K/bed Hold Period: Long Term This was initially a public auction and when the prior bidder was unable/unwilling to close, Strawberry Fields stepped in and closed the transaction even More

Count on many lenders, especially the agencies and banks, to be active in the small-balance multifamily space going forward. Small-balance properties will continue to be sought after as they include a big component of workforce housing, which is in high demand. Lenders will especially target small properties with an affordability component. Rates will remain low More

The private capital family office buyer, contemplating a 1031 exchange, placed the community under contract on February 12, 2020. It became apparent by late February the COVID-19 pandemic was adversely affecting the property’s occupancy and collections. In view of that, the buyer and seller agreed to extend the escrow, facilitating the seller time to restore More

Multifamily acquisitions are expected to increase after a few softer months during the early part of the COVID-19 pandemic. Watch for Westmount Realty Capital, Trammell Crow Residential, Wood Partners, Universe Holdings and Trez Capital to be active players. Low interest rates make an ideal purchasing environment, and many firms have been pleasantly surprised by the More

We asked these industry executives about their acquisition strategies and their predictions for the coming year. Elie Rieder, Founder/CEO — Castle Lanterra Properties Q: How have your requirements for new acquisitions changed this year? A: Through February 2020, CLP elected to employ the same investment strategy that we did during 2019, which focused on opportunities More

Count on increased demand and interest in multifamily bridge loans as lenders seek ways to provide capital in the space. As long as the agencies are providing take-out financing, the multifamily bridge market will continue to flourish. Bridge lenders are looking for higher quality assets, stronger sponsors and lower leverage than seen pre-pandemic. Anticipate lenders More