Borrowers will see ample available capital for student housing and watch for some traditional multifamily lenders to enter the game this year. There will be a flight to quality, and lenders will target top-tier markets with strong fundamentals and schools with healthy enrollment trends. Anticipate a slight decrease in agency lending volume, as alternative conventional More
(2022 projected origination volume and preferences) Axos BankVolume: $300MOriginated ~$150M so far this year; $750K-$250M loans for all land deals; 12- to 24-month terms with extensions; 6%-7% rates; nationwide Hankey CapitalVolume: $200MOriginated $75M so far this year; $5M-$150M loans for infill land zoned for high-demand uses such as housing; one- to three-year terms; 7.5%-9% rates; More
Higher levels of manufactured housing and affordable rental construction could provide some relief, as occupancy rates across residential segments are historically high, according to research from Marcus & Millichap. Class C apartment vacancy stood at just 2% entering the second quarter, halving the pre-pandemic equivalent. Meanwhile, manufactured housing availability declined between 2019 and 2021 in More
The nearly 100-year-old Black Veterans Association Building serves as a three-story transitional housing property for veterans in Brooklyn, N.Y. This is a clear win for AVANA’s Extensia Financial and the community as the Black Veterans for Social Justice (BVSJ) can continue to operate from the location providing program services assisting military personnel to help them More
Last week marked one year since the tragic collapse of Champlain Towers South Condominium in Surfside, Florida. By 2025, Florida state law will require association-governed boards to set aside funds for future major repairs, according to state legislation approved in May. It starts with a Reserve Study (fee is only 1% of the association’s budget) More
There will be ample liquidity for retail financing throughout the second half of the year. Lender appetite has rebounded and sales and foot traffic are back to more normal levels. Watch for many lenders to shift focus to retail, as pricing and cap rates offer more NOI coverage than the other asset types. Grocery-anchored retail More
American Street Capital121 W. Wacker Drive, Unit 2206Chicago, IL 60601Igor Zhizhin, Principal/Founder(312) 224-1390izhizhin@amstcap.com ASC worked on a $28.9M multifamily bridge loan in Santa Rosa, Calif., at 75% LTC. Zhizhin also worked on a $4.6M multifamily bridge loan in Atlanta at 84% LTC, a $4.2M multifamily bridge loan in Champaign, Ill., at 85% LTC and a More
You can find expanded details about these companies and others by subscribing to the Multifamily Report and to the Crittenden Multifamily Online Directory. The Multifamily Report extensively covers all aspects of the multifamily industry. You’ll get coverage and updates on the busiest developers, buyers, management firms, equity partners and more. Chicago Real Estate Resources (CRER)Ashley More
Grosvenor, a privately owned international property group, acquired 2600 Telegraph Avenue in Oakland, Calif., where they will begin construction in early 2023 to develop 225 rental homes and 6,000 square feet of specialty retail space. Fifteen of the homes will be affordable for local residents earning incomes less than 50% AMI (Area Median Income). The More
Commercial real estate lending had a very busy start to the year; however, changes in the market could slow things down during the second half of 2022. Lenders and borrowers have plenty on their minds with worries about inflation, rising rates, changes in cap rates and issues in Ukraine. Even the Supreme Court’s possible decision More
The construction lending market is as healthy as it has ever been and is expected to remain strong for at least the next two years. This strength will continue as long as vacancy rates remain historically low, particularly in the multifamily and industrial sectors. However, financing costs have increased dramatically, between the added interest and More
Planters Trace Apartments, a 96-unit, Class B multifamily community located in West Ashley, a thriving neighborhood of Charleston, South Carolina, was purchased by CREC Real Estate, LLC and Rincon Capital Partners. The 10.6-acre property, built in 1974 and located at 2222 Ashley River Road, has convenient access to nearby jobs, retail and entertainment. Terms of More
Miami, Florida
November 7-8, 2023
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