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Commercial Lending

Commercial Lending (340)

Dodge Data: Residential Building Dips 1%

Dodge Data: Residential Building Dips 1%

Monday, 24 December 2018
Commercial Lending
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Residential building in November was $327.5 billion (annual rate), down 1% from October. Single family housing was unchanged from its October pace, staying basically at the plateau that’s been present for much of 2018. Multifamily housing receded 3% in November following its 20% rise in October, according to Dodge Data & Analytics. “Amidst the monthly… Read more...
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REIS: U.S. Apartment Vacancies Unchanged at 4.8%

REIS: U.S. Apartment Vacancies Unchanged at 4.8%

Friday, 21 December 2018
Commercial Lending
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The apartment vacancy rate was flat in the quarter at 4.8 percent. At year-end 2017 it was 4.6 percent, while at year-end 2016 it was 4.2 percent. Both the national average asking rent and effective rent, which nets out landlord concessions, increased 0.8% in the fourth quarter. At $1,440 per unit, market rent and $1,370… Read more...
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Friday, 21 December 2018
Commercial Lending
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Summary of Reis Apartment Statistics: Q4 2018 In units Q4 2018 Q3 2018 Q4 2017 Quarterly Change (from Q3 2018) Annual Change (from Q4 2017) Vacancy Rate 4.80% 4.80% 4.60% 0.00% 0.20% New Construction 49,944 62,313 66,928 -12,369 -16,984 Net Absorption 39,732 50,502 44,037 -10,770 -4,305 Asking Rent (per unit) $1,440 $1,428 $1,373 0.80% 4.90% Read more...
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FCP, Terwilliger Pappas Close Two Deals for $128M

FCP, Terwilliger Pappas Close Two Deals for $128M

Thursday, 20 December 2018
Commercial Lending
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FCP and Terwilliger Pappas Multi Family Partners completed two separate transactions totaling $128.6 million. The first, Solis Waverly, was sold for $84.4 million to Lan Properties/Lantower Residential. In a separate transaction, Solis Ballantyne was sold for $44.2 million. FCP is a privately held real estate investment company that has more than $6 billion in real… Read more...
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Barings Refinances Apartment Complex

Barings Refinances Apartment Complex

Wednesday, 19 December 2018
Commercial Lending
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Barings Multifamily Capital has closed a $10,906,284 refinance loan on Flats on 4th and a $33,576,000 acquisition loan on The Modern at Providence. Built in 2017, Flats on 4th is an 86-unit mid-rise apartment complex in downtown Birmingham, Ala. Barings Multifamily Capital refinanced the borrower's construction loan. The loan has a 10-year term with 30-year… Read more...
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A Fannie First: Spreads Risk on Multi-Tranched Multifamily Loans

A Fannie First: Spreads Risk on Multi-Tranched Multifamily Loans

Tuesday, 18 December 2018
Commercial Lending
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Fannie Mae has completed its first multi-tranche Credit Insurance Risk Transfer transaction covering a pool of approximately $10.9 billion of existing multifamily loans in the company’s portfolio. This transaction, CIRT 2018-M02, is the fourth one designed to increase the role of private capital in the multifamily mortgage market. “We are happy to introduce our first… Read more...
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Fannie, Freddie, Hunt Complete 1031 Exchange Under a Tight Deadline

Fannie, Freddie, Hunt Complete 1031 Exchange Under a Tight Deadline

Monday, 17 December 2018
Commercial Lending
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Hunt Real Estate Capital provided agency loans of around $22.5 million to finance the acquisition of two multifamily properties located in Arizona. The Barone Group and strategic partners backed both deals. Duke Stone at Churchill Capital Company represented the owners on transactions. Acquisition, investment and asset management services were provided by Bear Holdings Group LLC.… Read more...
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Commercial-Multifamily Mortgage Debt Sets a Record

Commercial-Multifamily Mortgage Debt Sets a Record

Friday, 14 December 2018
Commercial Lending
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The amount of commercial-multifamily mortgage debt outstanding rose by $45.4 billion, 1.4 percent, in the third quarter of 2018 to an all-time high, according to the Mortgage Bankers Association. Total commercial-multifamily debt outstanding rose to $3.32 trillion in the third quarter, surpassing the previous high of $3.27 trillion in this year’s second quarter. Multifamily mortgage… Read more...
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Olympus Acquires Multifamily Property Near Houston

Olympus Acquires Multifamily Property Near Houston

Thursday, 13 December 2018
Commercial Lending
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Olympus Property has purchased Echo at Katy Ranch, a garden-style community built in 2013 and located near Houston. Olympus Katy Ranch, the new name of the property, is the twelve acquisition the organization made in 2018, adding around 4,000 apartments to the portfolio. "Olympus Katy Ranch is located in a booming submarket of Houston and… Read more...
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CIT Bank Inaugurates Multifamily Loan Program in Southern California

CIT Bank Inaugurates Multifamily Loan Program in Southern California

Wednesday, 12 December 2018
Commercial Lending
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 CIT Bank has unveiled a new community investment loan program that provides construction loans and permanent financing for multifamily affordable housing and community facilities across Southern California. CREA LLC, a real estate advisory firm, will support CIT with the affordable housing portion of the program. "CIT is pleased to expand its community investment efforts in … Read more...
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Elion, Buchanon To Purchase Multifamily Complex

Elion, Buchanon To Purchase Multifamily Complex

Tuesday, 11 December 2018
Commercial Lending
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Elion Partners and Buchanan Partners plan to acquire a 164-unit multifamily housing property and an adjacent 3.5-acre land parcel in Montgomery County, Md. The asset and adjacent land parcel were acquired for $34 million, with the total project estimated to cost over $100 million. The project is located next to the Glenmont Metro Station, which… Read more...
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National Health Investors Financing Nursing Home

National Health Investors Financing Nursing Home

Monday, 10 December 2018
Commercial Lending
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National Health Investors Inc. has agreed to finance the development of a 144-bed skilled nursing facility located near Milwaukee, Wisc., for a commitment of $25.35 million. The initial funding under the commitment was $4,700,000 and construction is underway and expected to be completed in the second quarter of 2020. A 12-year lease term begins post-construction… Read more...
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