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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.


FAHRO Convention & Trade Show

Senior Director Robert L. Smallwood will be exhibiting at the FAHRO Annual Convention and Trade Show August 12-14 in Orlando, FL. Stop by our booth to learn more about FHA’s affordable housing finance programs and how we can best serve your financing needs.

NH&RA Summer Institute

Senior Director Holly Bray will be attending the NH&RA Summer Institute August 6-9 in Newport, RI. Look for Holly there to discuss your financing needs.

Midwest Buyer/Seller Conference

Love Funding Director Christopher Schilling will be attending the Affordable Housing Association of Indiana’s Midwest Buyer/Seller Conference August 18-19 in Indianapolis, IN. Stop by our booth to discuss your affordable housing finance needs with Chris.