As housing costs spiral, rental affordability has become a more urgent issue, burdening a greater number of Americans. Arbor’s Affordable Housing Trends Report Spring 2024, developed in partnership with Chandan Economics, examines the major policies and programs shaping the marketplace at a time when overdue federal funding expansions have increased agency budgets.
In front of professionals and executives from more than 120 companies at the Real Estate Pride Roundtable in New York City in April, dozens of speakers shared honest perspectives on how far the commercial real estate industry has come on LGBTQ+ inclusion and how much more it has to go.
Lifestyle renters — those who have the means to own but prefer to rent or are willing to pay more for apartments with amenities — have become a key driver of rental demand in single-family rental homes, build-to-rent communities, and other types of high-quality multifamily housing. With this small yet influential demographic growing, our research teams examine and explain the factors driving lifestyle renter demand.
On balance, the SFR sector continues to demonstrate strength amid economic turmoil, attracting increased attention from the broader multifamily investment community.
With nearly one-fifth of multifamily properties now over 65 years old, it’s time to consider solutions for rejuvenating the rental housing stock in the U.S. While building rehabs are a tried-and-true solution, build-to-rent (BTR) is an alternative that is well-positioned to expand as Americans increasingly favor renting over homeownership.
In a year when inflation and elevated interest rates weakened affordability, the rental housing sector strengthened and expanded. An analysis of newly released U.S. Census Bureau Housing Vacancies and Homeownership data shows the number of rental households climbed in 2023.
The first quarter opens a new chapter for the small multifamily market after a year where the subsector demonstrated its strength and resiliency amid stiff economic headwinds.
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Units
Virginia Beach
Year Built
An experienced value-add multifamily owner was looking for financing to acquire a large multifamily property in Virginia Beach, Va. The property is unique in that it’s located near a naval base, and as a result, it has a concentration of tenants in the military. The situation was more complex due to the deal’s borrower structure, which included multiple investors. As the borrower had a previous business relationship with Arbor and the sales broker, the borrower felt comfortable with Arbor’s ability to not only guide them to the right financing for their needs but also provide them with the certainty of execution to deliver.
As a result of Arbor’s strong internal collaboration between its underwriting and originations departments, as well as its strong partnership with Freddie Mac, the deal was able to be financed with competitive terms and on time.
Arbor was able to execute a 10-year, $32.3 million fixed-rate loan under the Freddie Mac Conventional loan program. Despite the complexity of the deal, Arbor was able to secure the best financing possible for the borrower’s business goals while providing the borrower with peace of mind that the transaction would successfully close.