Multifamily households reached a new high for the third consecutive year in 2023, extending a growth spurt that began after the 2008 housing crisis. With strong tailwinds at its back, multifamily’s latest record may not stand for very long.
The U.S. multifamily market held steady in a more normalized cycle during 2024, following the pandemic-related economic contraction and its rapid recovery. Rental demand remained strong, driven by the ongoing nationwide housing shortage and robust wage growth, as younger generations continued to embrace lifestyle renting.
Unless an 11th-hour agreement is reached, an impasse will trigger the first U.S. government shutdown since 2019. Starting December 21, 2024, many non-essential federal government operations will be limited or suspended, but most multifamily financing activities will not be disrupted.
With home prices nearing all-time highs, single-family rental (SFR) housing is uniquely positioned to capture an even larger slice of the for-sale market. As structured capital markets rebound, SFR will benefit from a set of tailwinds that include robust levels of new construction and favorable trends in cap rates and debt yields. Arbor’s Single-Family Rental Investment Trends Report, developed in partnership with Chandan Economics, shows why this sector’s prospects are so strong.
Building on an organizational commitment to the inclusion of individuals from all backgrounds, Arbor — in partnership with the Real Estate Pride Council and Dr. Sam Chandan, Founder of Chandan Economics, Founding Director, NYU Stern School of Business C.H. Chen Institute for Global Real Estate Finance, and Co-Chair of the Real Estate Pride Council — hosted a speed networking event in Manhattan on November 20 for local LGBTQIA+ students and commercial real estate mentors.
Small multifamily continued to moderate through the midpoint of 2024, amid strong demand despite an elevated interest rate environment and rising property-level yields.
As the interest rate outlook brightens, unique opportunities for outsized returns abound, Dr. Sam Chandan, Founding Director of the C.H. Chen Institute for Global Real Estate Finance at the NYU Stern School of Business and the Non-Executive Chairman of Chandan Economics, explains in this top-level overview of Arbor’s latest Special Report.
Continually challenged by low inventory, affordable housing sits at a crossroads following the 2024 election. Incoming leadership plans to introduce market-based principles to an agenda that may also include an expanded Housing Choice Voucher program. Arbor’s Affordable Housing Trends Report Winter 2024/2025, developed in partnership with Chandan Economics, provides insight into a pivotal multifamily sector about to embark in a new direction.
Mr. York joined Arbor in 2005 and quickly became Arbor’s Top Producer year after year. He serves a client base that includes some of the largest multifamily owners, investors, and brokerage firms in the nation. In 2015, he was named one of Commercial Observer’s “Top 25 Debt Brokers and Lenders Under 35.” Since 2020, Mr. York has cemented himself as Arbor’s Top Producer and has closed over $11 Billion in transactions over the past four years alone. Stephen specializes in bespoke debt and equity financing solutions, with a primary focus on Fannie Mae, Freddie Mac, FHA, Bridge, CMBS, and other special-situation financing products.
Mr. York joined Arbor in 2005 and quickly became Arbor’s Top Producer year after year. He serves a client base that includes some of the largest multifamily owners, investors, and brokerage firms in the nation. In 2015, he was named one of Commercial Observer’s “Top 25 Debt Brokers and Lenders Under 35.” Since 2020, Mr. York has cemented himself as Arbor’s Top Producer and has closed over $11 Billion in transactions over the past four years alone. Stephen specializes in bespoke debt and equity financing solutions, with a primary focus on Fannie Mae, Freddie Mac, FHA, Bridge, CMBS, and other special-situation financing products.
Brooklyn, NY | FNMA | $33M
Pfugerville, TX | FNMA | $38M
West Palm Beach, FL | Freddie Mac | $33M
Kissimmee, FL | Freddie Mac | $46M
Tampa, FL | Freddie Mac | $61M
Brooklyn, NY | Arbor Private Investment Preferred Equity Bridge | $53M
San Antonio, TX | Bridge | $61M
Suitland, MD | Bridge | $152M
San Antonio, TX | Bridge | $27M
Rolling Meadows, IL | Bridge | $102M
Farmington Hills, MI | Bridge | $104M
Richmond, VA | Bridge | $119M
Brooklyn, NY | Freddie Mac SBL | $5M
New Britain, CT | Fannie Mae Small Loan | $7M
