Despite a market significantly cooling from record highs in 2021 and into 2022, the multifamily industry should stay solid, thanks to continued demand and solid fundamentals. Demographics remain a strong fundamental. More
Total commercial and multifamily mortgage borrowing and lending is expected to fall to $700 billion this year, which is a 5% decline from an expected 2022 total of $740 billion, according to an updated baseline forecast recently released by the Mortgage Bankers Association. More
Condo lending will be challenging and extremely location specific this year. Unknown hard costs, time delays and the ability of buyers to get financing will all hinder the sector. Count on the debt fund and private money lenders to be the most active, while most of the major money-center banks have pulled out of the More
The multifamily market remains fundamentally strong, but will be significantly slower in the coming year. Multifamily, especially the apartment sector, started 2022 in a strong position, with market momentum continuing from 2021, which was the best year in the apartment industry’s history, according to a report by the National Apartment Association. However, by third quarter More
(2023 projected origination volume and preferences) Associated BankVolume: $4BOriginated $4.5B total in 2022; $10M+ loans for multifamily, office, industrial, cautious with retail and hotels; less than five-year terms; 75% leverage TIAA BankVolume: $2BOriginated $2B total in 2022; $2M-$50M+ loans for multitenant industrial, warehouse, retail, self-storage, flex, office, MOBs, multifamily, student housing; single-tenant NNN-lease; generally non-recourse; More
Miami-based developers Global City Development and Gilu Development, are set to break ground on a new luxury multifamily community in Fort Myers, Fla. The joint venture will be developing a $90 million, 255-unit gated luxury multifamily community, consisting of one-, two-, and three-bedroom residences, ranging in size from 786 square feet to 1,690 square feet. Amenities More
The equity investing market will see a slow start to 2023. Investors are looking to fund deals but will be more cautious and conservative than they were last year. Watch for a major push toward preferred equity pieces, as well as some equity investors looking to fund mezzanine loans as a way to get money out the door. More
Alta Housing (formerly Palo Alto Housing), a community-based affordable housing organization, along with Palo Alto Mayor Pat Burt and city council members in California, recently celebrated the opening of Wilton Court Apartments, Alta Housing’s first all-electric apartment building. More
Equity investing is going to be tougher in 2023 — at least for the first half — and JV equity investments especially will be harder to pencil. Large funds will strive to get money out the door but count on them to be increasingly cautious and more selective. More
See the Online Directory for complete contact information. Allianz Real Estate60 E. 42nd St., Suite 3710New York, NY 10165Shawn Campbell, Director, Asset ManagerChristopher Donner, CEOAdam Lerer, Director of Acquisitions Amalgamated Bank301 Third Ave.New York, NY 10010Priscilla Brown, President/CEOJohn Saltos, Director of Commercial Real Estate American Equity6000 Westown ParkwayWest Des Moines, IA 50266Axel Andre, CFO American More
Institutional Property Advisors recently sold Liv Crossroads, a 356-unit multifamily property in Gilbert, Ariz., for $116 million, or $325,843 per unit. Liv Crossroads is a 19-residential building property with a clubhouse, resort-style heated swimming pool and fitness center. Residents have access to a car care center, electric car charging stations, bicycle repair station and community garden. More
Multifamily developers are adapting to a new reality for 2023, as rising interest rates push back against what has been an extraordinary development cycle over the past 10 years. While overall development and leasing activity was strong in 2022, higher interest rates stalled many new construction projects in the latter part of the year. Developers are now navigating a more measured path forward for new project starts for 2023. More
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