Construction lenders raised concerns about the possibility of future overbuilding in multifamily markets at the Mortgage Bankers Association’s Commercial Real Estate Finance/Multifamily Housing Convention 2012, which opened yesterday in Atlanta.
Construction lenders raised concerns about the possibility of future overbuilding in multifamily markets at the Mortgage Bankers Association’s Commercial Real Estate Finance/Multifamily Housing Convention 2012, which opened yesterday in Atlanta.
Freddie Mac’s involvement in the multifamily mortgage business totaled $20.3 billion in volume in 2011, according to the GSE, up significantly–32 percent–from the 2010 total of $15.4 billion.
Scottsdale-based MC Cos. and Phoenix-based Clark-Wayland Builders LC have formed a joint venture to develop apartment properties in both Phoenix and Tucson.
Wood Partners has closed on an acquisition of a five-acre property in Dallas, which it plans to convert into new apartments.
The United States remains the number-one choice for foreign investors in commercial real estate, though fewer members of the Association of Foreign Investors in Real Estate say they plan to increase their U.S. investment this year compared with last year. Meanwhile, Brazil is a hotspot for CRE investment.
Silverleaf Financial last week announced it had acquired a $17.7 million non-performing loan for a Salt Lake City residential condominium and retail development, of which the partially completed Broadway Park Lofts is the primary component.
Like any other kind of real estate, the apartment market is a game of numbers, and throughout 2011, the numbers have been on the side of owners, developers and investors.
An interview with Jones Lang LaSalle’s multifamily practice leader Jubeen F. Vaghefi on the apartment outlook for 2012.
Cap rates are going to stabilize, interest rates will remain low and home ownership rates will continue to decline. These are the conclusions of the RealShare/Jones Lang LaSalle’s Apartments Outlook 2012 Survey.