Prior to the onset of COVID-19, the Phoenix multifamily market stood on solid ground. The market had the highest rent growth in the nation, along with an active development pipeline and high investment activity. Although the Valley of the Sun is not immune to the economic effects of the recession that will be felt throughout the nation, the market is starting from a position of strength.
This economic report analyzes how much federal COVID-19 relief has assisted small multifamily renters and what investors should continue to watch.
UNIONDALE, NY (June 10, 2020) – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded seven Fannie Mae Small Loans across the nation. The multifamily properties, totaling 256 units, received $13.9M in financing. Geoffrey Platt of Arbor’s New York City office originated the loans. “These transactions highlight Arbor’s steadfast commitment to providing successful outcomes for our financial partners,” Platt said. “No matter the location or the current environment, we are always here to ensure our clients achieve their fiscal goals.” Built in 2019, Taylor Row Apartments in Punta Gorda, FL, received $1.2M in refinancing though the Fannie Mae Small Loan program. The 16-unit upscale property features studio, one- and two-bedroom floorplans with granite countertops and stainless steel appliances, and is within walking distance of downtown Punta Gorda. Girard Court Apartments in Killen, TX, received $1.3M in refinancing through the Fannie Mae DUS® program. The one-story furnished property was built in 2006. It features 24-units with hardwood floors, built-in bookcases, vaulted ceilings and French doors. The complex is conveniently located with major highways, parks and local Read the full article…
Sign up for our June 25 webinar: Ivan Kaufman, Chairman and CEO of Arbor, Greg Willett, Chief Economist, RealPage, Jamie Woodwell, VP of Research and Economics, Mortgage Bankers Association and economist Sam Chandan address the top questions multifamily investors need to know.
Prior to the onset of COVID-19, the Phoenix multifamily market had the highest rent growth in the nation, along with an active development pipeline and high investment activity.
In this short audio brief, economist Sam Chandan analyzes today’s demand for SFRs, summarizing what recent data suggests about investments.
Build-to-rent financing is different in today’s COVID-19 environment. An IMN webinar looks at both the challenges and opportunities for investors.
UNIONDALE, NY (June 3, 2020) – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded Freddie Mac Small Balance loans in Miami, FL. The three properties, totaling 55 units, received $6.3M in financing. Jonathan Chaim of Arbor’s New York City office originated the loans. “We take pride in getting to the heart of our clients’ needs and helping them achieve their short- and long-term goals,” Chaim said. “These transactions demonstrate Arbor’s ability to build ongoing and successful financial partnerships with our sponsors.” Bayshore Apartments, located one block from Biscayne Bay and a short distance to Miami Shores, received $2.7M in acquisition financing. The 24-unit multifamily property is made up of one- and two-bedroom floorplans. Morningside Apartments, an 11-unit garden-style complex, received $1.2M in refinancing. The property is within walking distance of retail shopping and public transportation is nearby. The 63rd Street Apartments received $2.4M in refinance funding. Renovated in 2018, the 20-unit garden-style property features one- and two-bedroom units. The complex is within a short driving distance to Miami International University of Art and Design Read the full article…
Chatter is dedicated to providing you with the practical research needed to be a successful multifamily investor. From our partnership with Chandan Economics to articles contributed from premier research firms, our goal is to keep you informed on all things multifamily.
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