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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.


Illinois Governor’s Conference on Affordable Housing

Love Funding will be sponsoring the Illinois Housing Council’s 2014 Illinois Governor’s Conference on Affordable Housing. The conference will be held April 22-23 at the Hyatt Regency in Chicago, IL. Stop by our booth to meet members of our affordable housing finance team, Regional Director Bruce P. Gerhart and Director James Horvath.

WMAC Annual Conference

Love Funding will be attending the Western Mortgagee Advisory Council Annual Conference April 24-25 in San Francisco, CA.

TAA Lone Star Expo

Look for our Texas multifamily finance experts at booth #812 during the 2014 Texas Apartment Association Education Conference & Lone Star Expo. Senior Director Tammy Tate and Director Chad Ricks look forward to seeing you April 24-26 in Dallas, TX. 

OHCA Convention & Expo

Senior Director Robert L. Smallwood and Director Brian Jones will be attending the Ohio Health Care Association Convention & Expo held April 28 – May 1 in Columbus, OH. Stop by booth #602 to discuss your healthcare property’s financing needs. 

Building Michigan Communities Conference

Regional Director and affordable housing finance expert Bruce P. Gerhart will be speaking at the upcoming Building Michigan Communities Conference. The conference will be held April 28-30 in Lansing, MI. Bruce will be on a panel entitled “Preservation and Utilizing HUD’s Rental Assistance Program – Totally RAD”.