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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.


Virginia Housing Credit Conference

Senior Director Laura Saull-Smith and Director Ann Bolen will be attending Virginia Housing Coalition’s 2014 Virginia Housing Credit Conference September 3-4 in Richmond, VA.

MGA Fall Networking Event

St. Louis-based Senior Directors Harry Cheatham and Robyn Cunningham along with Directors Adrian Hartman and Brian Robertson will be attending the Missouri Growth Association’s Annual Fall Networking Event. The event will be held on September 11, 2014 at The Chase Park Plaza in St. Louis.

IHCA Convention & Trade Show

Director Adrian Hartman will be attending the Illinois Healthcare Association’s Convention & Trade Show September 8-11 in Peoria, IL. Stop by booth #1005 to discuss your healthcare facility’s financing needs with Adrian.

CREJ Land & TOD Conference

We will be sponsoring the Colorado Real Estate Journal’s 2014 Land & TOD Conference and Expo on September 16th. Look for Denver-based Senior Director Peter Wessel in the expo hall to discuss how we can best serve your project’s financing needs.

Multifamily Executive Conference

Senior Directors Robyn Cunningham and Peter Wessel along with Directors Adrian Hartman and Brian Robertson will be exhibiting at the Multifamily Executive Conference in Las Vegas, NV September 22-24. Join us at booth #601 to meet our team of multifamily finance experts.

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