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Welcome to Chatter! We’re happy to be your source for multifamily news, research and insight. Bookmark us and be sure to sign up for our weekly newsletter to stay on top of all things financing and investment for the multifamily industry. We also invite you to follow us on Twitter. What is Chatter? So what Read the full article…

Research

How Big is Small Cap Multifamily?

A closer look at the multifamily housing inventory in the United States and the size of the small cap investment opportunity.

Around the Web

Multifamily Forecast: Investors Moving to Secondary Markets

The apartment sector has remained the darling of the commercial real estate for the past six years. This doesn’t appear to be changing anytime soon, as 2016 is expected to set a new record for multifamily mortgage origination volume. While multifamily’s position as top dog remains uncontested, savvy investors are altering their strategy for sourcing Read the full article…

GENERAL: 800.ARBOR.10

FREDDIE MAC®

Fixed-Rate

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

Loan Amount $1,000,000 minimum.
Loan Term 5 to 10 years. Up to 30 years for fixed-rate loans if loan is not purchased for securitization.
Amortization Up to 30 years. Interest-only options also available.
Minimum DSCR 1.25/1.30 if a 5-year deal.
Maximum LTV 7 year term or greater: 80%; 5-year term: 75%.
Rate Structure Fixed.
Eligible Properties Multifamily.
Eligible Borrower Single Purpose Entity.
Tax & Insurance Escrows Monthly deposits required. May be waived if certain criteria are met.
Replacement Reserves Minimum $250 per unit per annum. May be waived if certain criteria are met.
Recourse Non-recourse with standard exceptions for standard carve-out provisions.
Commercial Space No more than 40% of effective gross income and no more than 40% of property’s total square footage. Final determination by Freddie Mac.
Required Reports Appraisal, Property Condition Assessment, and Phase I Environmental, Zoning, Insect and Flood.
Prepayment Defeasance for fixed-rate loans. No prepayment premium for final 90 days of term. Additional prepayment options are available
Assumable Subject to approval and 1%.
Subordinate Financing Not allowed.
Pricing Tiered Pricing Matrix. More favorable terms available for higher DSC and lower LTV.
Rate Lock Early rate-lock option available for varying durations, typically ranging from 60 to 120 days until Freddie Mac purchase; Index Lock option is also available. Sellers should consult with their regional Freddie Mac representative to determine eligibility.
Application Deposit $26,500. Covers all estimated underwriting costs (including application fee).
Legal/Closing Fee Arbor’s Counsel Fee to be determined at application.
Good Faith Deposit 2% if greater than 5,000,000 of loan amount due at rate lock for early rate-lock transactions, but refundable post-closing.

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