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Recovery of Commercial Property Fueled by Apartments: Mortgages - Love Funding

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

Multifamily Executive Conference

Senior Director Peter Wessel and Director Brian Robertson will be exhibiting at the upcoming MFE Conference September 19-21, 2016 in Las Vegas, NV. Stop by booth #302 to discuss your financing needs with our team.

WMAC Annual Conference

Love Funding will be attending the Western Mortgagee Advisory Council’s Annual Conference September 7-9, 2016 in San Francisco, CA.

NJ Governor’s Housing Conference

Join Love Funding Director Matthew Meskill and Accounts Manager Greg Mayernik in Atlantic City September 19-20, 2016 for the NJ Governor’s Conference on Housing & Economic Development. Stop by our booth in the expo hall to learn more about reduced MIPs for affordable housing and HUD’s many financing options for affordable housing.

VA Housing Credit Conference

Director Ann Bolen will be attending the 4th Annual Virginia Housing Credit Conference September 21-22, 2016. Look for Ann on-site to learn more about the many financing options available through HUD’s affordable housing finance programs and Love Funding’s bridge loan platform.

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