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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

WI Collaborative for Affordable Housing

Join Director David Hirsch July 15-16, 2015 at the Wisconsin Collaborative for Affordable Housing’s annual A Home for Everyone Conference in Wausau, Wisconsin. Stop by our booth to meet David and discuss your financing needs.

AHA Leadership Summit

Senior Director of Hospital Finance Steven Hunt will be attending the 23rd Annual Health Forum and American Hospital Association Leadership Summit in San Francisco July 23-25, 2015.

TAAHP Texas Housing Conference

The Texas Affiliation of Affordable Housing Providers will host the Texas Housing Conference July 28-30, 2015 in Austin, TX. Stop by our booth to chat with Directors Adrian Hartman and Matthew Meskill about the many financing options available through HUD’s affordable housing finance programs.

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