Articles

What Is Driving Lifestyle Renter Demand?

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.

Articles

Build-to-Rent Well-Positioned to Fill Housing Market Gap

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.

Articles

U.S. Added 514,000 New Rental Households in 2023

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.

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Articles

Build-to-Rent Construction Starts Surge to New High in 2023

Over the last decade, single-family rental (SFR) operators have been increasingly focusing on build-to-rent (BTR) development as the needs and preferences of renters have shifted. As explored in the latest Arbor Single-Family Rental Investment Trends Report, SFR/BTR development has surged at a time when new, for-sale, single-family home starts have declined.

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Fannie Mae DUS®

Standard

 

Arbor provides competitive, tiered pricing for acquisition or refinance of multifamily projects nationwide, including recently completed projects.

Loan Amount Over $6 million
Loan Term Up to 30 years
Amortization Up to 30 years. Interest-only options also available
Minimum DSCR 1.25x
Maximum LTV Up to 80%
Rate Structure Fixed and adjustable rate options available
Eligible Properties Multifamily, minimum five units
Eligible Borrower Single Asset Entity
Occupancy Requirements 85% physical occupancy and 70% economic occupancy required
Tax & Insurance Escrows Monthly deposits required. May be waived if certain criteria are met
Replacement Reserves Underwritten at a minimum $250 per unit per annum
Recourse Nonrecourse
Commercial Space Maximum 35% of net rentable area and EGI (after applying 10% vacancy rate)
Required Reports Appraisal, Property Condition Assessment, Phase I Environmental
Prepayment Yield Maintenance and declining prepayment available
Assumable Subject to approval and 1% fee
Subordinate Financing Not allowed without written approval
Supplemental Loans Eligible for secondary financing after 12 months
Pricing Tiered Pricing Matrix. More favorable terms available for higher DSCR and lower LTV
Rate Lock Standard 30- to 180-day commitments
Application Fee Deposit $20,500. Covers estimated processing and legal fees
Origination Fee Minimum 1%
Good Faith Deposit 2% of Loan Amount

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