The U.S. multifamily market held steady during the third quarter of 2023, as high mortgage rates and a lack of inventory in the housing market continued to drive rental demand.
The U.S. multifamily market held steady during the third quarter of 2023, as high mortgage rates and a lack of inventory in the housing market continued to drive rental demand.
Over the past year and a half, the Federal Reserve has embarked on one of its most aggressive monetary tightening cycles in history. With the federal funds rate sitting above 5.25% and two more Federal Open Market Committee (FOMC) policy meetings scheduled through the end of 2023, questions remain about how short- and medium-term monetary policy adjustments could influence multifamily investing. While a rapid reversal is unlikely, the next phase could ease some interest rate pressure.
Arbor’s Top Markets for Large Multifamily Investment Report 2023 is a roadmap for investors searching for the most desirable locations to invest $20 million or more. Developed in partnership with Chandan Economics, the study is a market-level comparison of the top 50 U.S. cities poised for apartment sector growth over the next year. This annual report pinpoints areas of opportunity at a time when economic headwinds have altered individual market dynamics.
Download Overview PDF Overview When you need financing for new construction – with an eye towards long-term ownership – Arbor now offers multifamily investors short-term, floating-rate financing to be matched with our existing suite of financing products and programs. Arbor Private Construction (APC) serves as a complement to our established and impactful Single Family Rental (SFR) and Build-to-Rent (BTR) construction lending program. All Arbor sponsors benefit from the highest level of partnership and customer service along the life cycle of their loans. Arbor offers Fannie Mae, Freddie Mac, FHA, Bridge, Non-Agency and CMBS permanent financing, ensuring a smooth loan transition all with one lender. Arbor offers a complimentary loan program to our existing product lines to give borrowers added flexibility and financing options for their market-rate properties. Arbor’s Private Construction Program is Easier than You Think Arbor Private Construction Loans range from $25 million to $100 million Up to 75% Loan-to-Cost, subject to minimum underwritten exit debt yield & DSCR Underwritten to an Agency-qualifying loan exit Secure a lending partner to stand with you when the shovel meets the Read the full article…
The U.S. Department of Labor (DOL) recently published a Final Rule updating the Davis-Bacon and Related Acts’ formula for calculating local prevailing wages to keep worker pay in line with wage growth trends on most federal and federally assisted construction projects. The first update since the Reagan administration, it has met opposition from industry associations who contend its new wage determinations would raise costs and slow new construction at a time when strong wage gains have already pushed costs higher.
Multifamily Lender’s Servicing and Asset Management Departments Have Grown and Thrived for Over 23 Years in the Buffalo Area TONAWANDA, NEW YORK – October 4, 2023 – Arbor Realty Trust recently hosted a Grand Opening and Ribbon Cutting at a new office at 500 Colvin Woods Parkway within Colvin Woods Corporate Park. This 32,000 square foot space is now home to the Firm’s loan servicing and asset management operations departments. Arbor, which today has 17 offices in cities across the United States, initiated its presence in the Buffalo area more than 23 years ago. The current 208-member Buffalo team began this relocation from a 20,000 square foot space at 3370 Walden Avenue in Depew one year ago in anticipation of business expansion. Under the leadership of Founder, President and Chief Executive Officer Ivan Kaufman, Arbor reported one of its best years as a public company in 2022, results fueled in part by its best-in-class servicing and asset management operations. In the second quarter of 2023, Arbor’s fee-based agency servicing portfolio grew approximately 2%, or $533.9 million, to $29.45 billion. Arbor Read the full article…
Although headwinds persist, solid national economic growth and the strength of multifamily fundamentals indicate it’s time to recalibrate for a soft landing, write Ivan Kaufman, Arbor’s Chairman and CEO, and Sam Chandan, Founding Director of the C.H. Chen Institute for Global Real Estate Finance at the NYU Stern School of Business. Historically stable in times of adversity, the rental housing market is well-equipped to thrive in today’s evolving economic environment.
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