MultifamilyExecutive: Distressed Assets

More Renters Hit by Foreclosures

Thu, 11 Oct 2012 01:16:43 EST

The number of renters affected by foreclosures has more than tripled in three years, according to the National Low Income Housing Coalition (NLIHC).

Looking for Trouble: Fortress Finds Success in Distress

Thu, 23 Aug 2012 12:56:35 EST

Fortress Investment Group has quietly become one of the most active and powerful firms investing in the multifamily space, with over 25,000 units in its portfolio.

Apartment Distress Falling Farther, 2 Reports Show

Wed, 23 May 2012 04:37:48 EST

A couple of years ago, distress was the buzzword in the apartment industry. Now, as the recovery strengthens, distress is falling even farther.

Apartment Sales Jump 31 Percent in Q1 2012

Fri, 29 Jun 2012 01:07:17 EST

In the first quarter of 2012, apartment valuations took another step toward erasing the losses they suffered after the financial collapse.

Berriz Marries an Old School Entrepreneurial Formula with Technology to Provide a Roadmap to Optimizing Rehab Dollars

Thu, 19 Apr 2012 04:52:55 EST

Berriz Marries an Old School Entrepreneurial Formula with Technology to Provide a Roadmap to Optimizing Rehab Dollars

Apartment Owners Apprehensive About Fed's REO-to-Rental Program

Thu, 23 Feb 2012 03:49:27 EST

The federal REO-to-Rental program will make the shadow market that much larger, but much remains to be seen in terms of how it will affect apartment owners in the nation's hardest-hit metros.

Freddie Mac Mulls REO-to-Rental Loan Program

Mon, 12 Mar 2012 02:57:24 EST

Freddie Mac has started working on a new, "multisite" multifamily loan product, fresh on the heels of the federal REO-to-Rental program rollout.

Home Financing Stays Tough

Thu, 12 Jan 2012 11:47:52 EST

Home Financing Stays Tough

Economics Continue to Make Ownership an Uphill Battle

Thu, 17 May 2012 11:22:44 EST

What a difference five years can make. Since the housing bust battered the psyche of potential home buyers around the world, it doesn’t appear things are over yet. The country has tallied up 4.4 million foreclosures since January 2006, according to RealtyTrac, an Irvine, Calif.–based company that publishes a database of foreclosure, auction, and bank-owned homes; seen unemployment cross the 10 percent mark (it’s currently at 8.6 percent); and watched home prices steeply decline, sometimes falling as much as 65 percent to 70 percent in hard-hit metros. The result is a collective push into rentals for millions of Americans. But how long will this economy-driven shift from owning to renting last?

Comeback Cities

Thu, 12 Jan 2012 12:51:44 EST

Las Vegas, Phoenix, and Miami have been lumped together as the poster children for distress, but each metro is climbing back up in its own way.

Phoenix and Vegas: Where Are They Now?

Thu, 10 Nov 2011 03:53:14 EST

Throughout the downturn, Phoenix and Las Vegas were linked together as poster children for distress, but Phoenix has pulled itself up by the bootstraps.

With More Big Deals in the Works, Kushner Grows Bullish on Multifamily

Thu, 20 Oct 2011 05:00:48 EST

Kushner Cos. re-entered the multifamily market this year with a 4,600-unit distressed-portfolio buy. And by the end of the year, the company expects to add thousands more units in similar deals.

Today’s Dealmaker: Q&A with McKinley’s Albert Berriz

Thu, 22 Dec 2011 11:39:50 EST

Ann Arbor., Mich.-based McKinley has developed a reputation for taking over troubled assets from banks over the past few years. It recently handled a Bethany portfolio from C3 Asset Management, and it’s working on another 1,110 units from servicer Helios AMC. Add in another an old Babcock & Brown Real Estate Investments portfolio of 3,704 units, and you can see why McKinley CEO Albert M. Berriz is staying busy.

Apartment Distress Falls in First Half of 2011

Thu, 22 Dec 2011 11:38:36 EST

With $2 billion added in the second quarter of 2011, new additions to the distressed apartment pools have reached their lowest levels since the second quarter of 2008, according to the “Apartment Mid-Year in Review” report from New York-based research firm Real Capital Analytics (RCA).

New Jersey Earns a Spot as a Solid Multifamily Market

Thu, 22 Dec 2011 11:35:09 EST

Renters and investors alike will find much to appreciate in the Garden State, which is enjoying accelerating job growth and other advantages as it emerges from the recession.

Apartment Distress Falls in the First Quarter

Thu, 22 Dec 2011 11:35:43 EST

As fundamentals and transactions continue to rise in the apartment industry, the additions to apartment distress slipped $3 billion in the first quarter, which was the lowest level of additions since the third quarter of 2008, according to New York-based research firm Real Capital Analytics (RCA).

The Bascom Company Looks to Operational Value-Add in Rent Lagging B and C apartment sectors.

Thu, 22 Dec 2011 11:34:08 EST

The Bascom Company is augmenting its traditional renovation strategy to target assets with severe occupancy and rent distress in order to bring back units, meet market rent fundamentals, and extract maximum NOI to improve asset values.

Twelve L.A. Properties Go to Special Servicing

Thu, 22 Dec 2011 11:32:41 EST

Another apartment owner has transferred a sizeable portfolio of assets to special servicing. Last week, the New York-based apartment owner (cited as ADEM Properties by Fitch Ratings) saw 12 of its L.A. area properties transferred to special servicer, Miami Beach, Fla.-based LNR Partners, for imminent default, according to reports.

Distressed Markets See Spike in Transactions

Thu, 22 Dec 2011 11:31:02 EST

Following a morbid 2009, 2010 saw transactions pick up across the multifamily world.

Property Management Firms See Opportunity in Apartment Deal Flow

Thu, 22 Dec 2011 11:30:53 EST

Multifamily fee managers leverage skills and service to gain contracts from apartment acquirers.