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Commercial Lending

Commercial Lending (313)

Freddie, Aon Unveil $915M Multifamily Risk Transfer Offering

Freddie, Aon Unveil $915M Multifamily Risk Transfer Offering

Friday, 04 January 2019
Commercial Lending
Written by
Freddie Mac has completed its first its multifamily credit risk transfer offering on a pool of $915 million, working with Aon, a reinsurance broker. Freddie Mac has purchased credit risk insurance for the first 5 percent of credit losses on the deal, which includes 55 loans in enterprises Bond Credit Enhancement and Multifamily Participation Certificate… Read more...
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Freddie Mac Issued $72.8B of Multifamily Securities in 2018

Freddie Mac Issued $72.8B of Multifamily Securities in 2018

Thursday, 03 January 2019
Commercial Lending
Written by
Freddie Mac issued a company record $72.8 billion of multifamily securities in 2018, which were designed to move risk to private investors from taxpayers. “With our diverse array of securities, including our flagship K Deals, we continue pioneering efforts to meet [caption id="attachment_7455" align="alignright" width="300"] Debby Jenkins[/caption] private sector demand for investment products while shifting… Read more...
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Freddie Mac Closes its First Non-LIHTC Loan

Freddie Mac Closes its First Non-LIHTC Loan

Monday, 31 December 2018
Commercial Lending
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Mortgage banking firm Merchants Capital has secured financing for the development of a $19.7 million mixed-income workforce housing community in Rochester, Minnesota. Merchants Capital secured the loan through the first Freddie Mac Non-LIHTC Forward Commitment on behalf of Real Estate Equities. Technology Park Apartments, the 164-unit affordable housing complex, will help to ease the city's… Read more...
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Freddie: Single-Family Housing Largest Source of Rentals in U.S.

Freddie: Single-Family Housing Largest Source of Rentals in U.S.

Friday, 28 December 2018
Commercial Lending
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The single-family rental market provides housing to 25 million Americans and is valued at more than $4 trillion. In fact, it’s the largest source of rental housing in U.S., and plays a particularly important role in rural areas where they account for two-thirds of the rental housing stock, according to “Single Family Rental: An Evolving… Read more...
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Securities Properties, Tokyo Land Acquire Property in Oregon

Securities Properties, Tokyo Land Acquire Property in Oregon

Thursday, 27 December 2018
Commercial Lending
Written by
Security Properties and Tokyu Land US Corp., purchased Sanctuary, an apartment building located in Portland, Ore., for $58,300,000. Built in multiple phases, the $1.9 billion South Waterfront community is one of the largest urban redevelopment projects in the nation. Sanctuary has 182 units and is located along the Willamette River on the southern end of … Read more...
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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
Written by
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
Written by
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
Written by
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
Written by
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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