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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

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.

SCARCH Fall Convention & Trade Show

Love Funding Director Kenneth Charbauski will be exhibiting at the South Carolina Association of Residential Care Homes’ Fall Convention & Trade Show September 29-October 1 in Isle of Palms, SC. Stop by booth #34 to meet Ken and discuss your healthcare financing needs.

NRHA Rural Health Clinic & Critical Access Hospital Conferences

Senior Director of Hospital Finance Steven Hunt will be attending the National Rural Health Association’s Rural Health Clinic & Critical Access Hospital Conferences September 30-October 3 in Kansas City, MO. Look for Steve there to discuss your hospital’s financing needs.

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