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Recovery of Commercial Property Fueled by Apartments: Mortgages

Demand for U.S. apartment buildings is surging as the homeownership rate hovers near the lowest level since 1998 and government-supported mortgage companies provide record levels of financing for apartment properties. That’s fueling a rush by investors to buy buildings and helping lenders recover 75 percent of the value of defaulted mortgages tied to multifamily housing, the highest recovery rate on all commercial property.

Sales of U.S. apartment properties totaled $3.8 billion in January, a 53 percent increase from the same month a year earlier, the strongest start to the year compared with offices, and shopping centers, according to Real Capital Analytics Inc., a New York-based commercial property data firm.

The above is an excerpt from “Recovery of Commercial Property Fueled by Apartments: Mortgages” by Oshrat Carmiel. Read the full article on Bloomberg.

Calendar

Seniors Housing Southeast Conference

Director Kenneth Charbauski will be attending the Interface Conference Group’s Seniors Housing Southeast Conference. The conference will be held August 20-21 at the Westin Buckhead in Atlanta, GA.

Conn-NAHRO

Look for Love Funding Senior Director William E. Jones at the Conn-NAHRO Annual Convention and Expo. Bill will be at our booth in the expo hall to discuss financing options for your affordable housing properties.

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