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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

CREJ Land & Development Conference

Look for Denver-based Senior Director Peter Wessel at the Colorado Real Estate Journal’s 2015 Land and Development Conference. The conference will be held September 1 in Denver, CO.

NIC National Conference

Regional Director Bruce Gerhart and Senior Director Leonard Lucas will be sponsoring the 2015 NIC National Conference September 30-October 2, 2015 at the National Harbor in Maryland. Contact us today to schedule a meeting in our hospitality suite or for more information about how we can best serve your facility’s financing needs.

NCHMA Annual Meeting

Director David Opalek will be attending the National Council of Housing Market Analysts Annual Meeting September 9-10, 2015 in Columbus, OH.

HRACRE Rockin’ on the River

We will be sponsoring the Hampton Roads Association for Commercial Real Estate’s Annual Rockin’ on the River event. Look for our Norfolk-based Director Ann Bolen at the event on September 24 to discuss your financing needs.

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