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Fannie Mae saw some stiff competition from the banking sector last year for loans of $5 million or less, and that dynamic should only grow this year.
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Though the competitive landscape grew more heated last year, the overall market for permanent multifamily debt also expanded, allowing Fannie and Freddie to capture more than a 60 percent market share.
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The demand for construction debt is expected to be high in 2012 as developers urgently try to make up for lost time. But the supply of ready and willing banks will be a limiting factor.
Absent sudden surges in market valuation, home ownership typically generates zero real returns as an equity investment.
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After a decade with the industry's leading mezz provider, Dave Valger steps out on his own eyeing preferred-equity investments.
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Apartment Finance Today recently sat down with Freddie Mac multifamily head David Brickman to talk about the company's banner year and what lies ahead for the capital markets.
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The market for repositioning deals is expected to pick up this year, and Freddie Mac is taking "a hard look at its adjustable rate programs" to better tailor them to value-add plays.
Multifamily operators investigate the pros and cons behind the most progressive business strategies for 2012.
Last week’s announcement by Chicago-based Equity Residential (EQR) that it entered into an agreement to spend $1.325 billion in cash for a 26.5 percent ownership interest in Denver-based Archstone, which owns 48,922 units and has 1,332 units under construction, took some people by surprise.
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Multifamily Executive is keeping close tabs on the potential sale of Archstone, as Lehman Bros., Bank of America, and Barclay’s try to navigate the right disposition strategy for the portfolio that was taken private for $22 billion in 2007. Check out our coverage, along with breaking news from...
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Bridge, equity, and mezzanine capital have grown more available this year, a trend which should only continue in 2012.
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As the fourth-quarter busy season gets under way, Freddie Mac has a slight underwriting advantage while Fannie Mae features a quicker turnaround.
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The multifamily debt market is evolving toward a more diverse competitive landscape beyond Fannie Mae and Freddie Mac, but it's a slow evolution.
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The market for equity looking to invest in multifamily remains strong, but a flight to quality has widened the gap between primary and secondary markets.
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The construction debt market has slowly but surely returned, though the lessons learned through the last downturn are informing today's more conservative approach.
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The FHA is certainly no longer the only game in town as banks and life insurance companies grow increasingly competitive, driving rates down and leverage levels up.
Thou Shalt Not Be Prideful
Despite much to offer in cyclical economic hedges, affordable housing is seeing a lack of interest from instituional capital providors in the multifamily real esate sector.
Keep an eye on that economy. If college and university enrollment trends during the recession are any indication, continued economic stress will likely propel jobless Gen Y renters back to school, and to the off-campus multifamily student housing communities that have supplanted traditional dorm...
Foreign investors have spent about $2 billion so far this year on U.S. apartments, despite a 21-year-old law that imposes stiff tax penalties on cross-border investment in real estate.