Aging Baby Boomers Reshape the Housing Market

While the 2008 financial crisis prompted a cyclical shift in U.S. housing — impacting everything from home prices to who can qualify for a mortgage — an equally impactful demographic change was just taking shape. The unprecedented wave of Baby Boomers that began retiring would disrupt the balance of the housing market.


Secondary and Tertiary Markets Gain Ground on Primary Cities

As secondary and tertiary markets continue to gain parity with larger primary cities around the nation, they offer investors a significant potential for return on investment, even as the U.S. and global economic landscapes face notable headwinds.


Small Multifamily Investment Snapshot — Q4 2022

The small multifamily sub-sector ended 2022 on a high note with originations falling just behind 2021’s peak. As economic storm clouds continue circling, small multifamily appears fortified from any reverberations that may result.

Press Releases

Arbor Realty Trust Reacts to Ningi Research Report

UNIONDALE, N.Y., March 14, 2023  (GLOBE NEWSWIRE) – Arbor Realty Trust (NYSE: ABR), announced today that the Company is in receipt of the purported “research” report that was published earlier today by Ningi Research, a short seller of Arbor stock. The report lacks merit and contains numerous inaccuracies, misstatements, and otherwise misleading allegations. This false Read the full article…


Arbor’s Leah Fisher Joins Global Sustainability Panel at InnovateESG

Arbor Senior Vice President, Special Projects, Governance and Risk, Leah Fisher recently spoke on a thought-provoking panel discussion at InnovateESG 2023, a conference focused on environmental, social, and governance missions, hosted by NYU Stern’s Chen Institute for Global Real Estate Finance.


Single-Family Rental Investment Snapshot — Q4 2022

SFR will maintain exposure to the cyclical disruption brought on by the housing market’s softness and rising interest rates, even though its structural growth outlook remains positive and unchanged.



Manufactured Housing Community Loan

With flexible financing, competitive pricing, certainty, and speed of execution, a manufactured housing community (MHC) loan provides financing for affordable housing for underserved populations, particularly in rural and non-metro areas across the country, where MHCs are an important, and sometimes only, source of affordable housing.

Eligible Property Types Existing, stabilized, high quality and professionally managed MHCs , with or without age restrictions, excluding Seniors Housing Loans
Eligible Borrowers
  • Key principal should have two or more years of experience in operating MHCs and own one other MHC property
  • Borrower may be a limited partnership, corporation, limited liability company or a tenancy in common (TIC) with 10 or fewer tenants in common
  • General partnerships, limited liability partnerships, REITs and certain trusts may also be acceptable in limited circumstances, subject to additional requirements
  • Borrower must be a Single Purpose Entity (SPE)
  • On loans less than $5M, a borrower other than a TIC may be a Single Asset Entity instead
  • If the borrower is a TIC, each TIC must be an SPE
Terms Up to 5-, 7-, and 10-year terms; longer term loans considered on a case by case basis
Amount $1M or larger
Maximum Amortization 30 years
Interest Rate Fixed- or floating-rate options available
Interest Only Partial-term and full-term interest-only available
Prepayment Provisions Refer to the Fixed-Rate Loan and Floating-Rate Loan Term Sheets for additional information
Recourse Requirements Non-recourse except for standard carve-out provisions
Supplemental Financing Available, subject to the Supplemental Loan offering requirements
Tax and Insurance Escrows Required
Replacement Reserve Escrows Minimum $50 per site per year
Application Fee $2,000 or 0.1% of loan amount, whichever is greater
Early Rate and Spread Lock Options Early rate lock and spread lock options available, typically ranging from 60 days to 120 days, including early rate lock and Index Lock options
Refinance Test No Refinance Test is necessary if the loan has an amortizing debt coverage ratio (DCR) of 1.40x or greater and a loan to value (LTV) ratio of 60% or less
Additional Considerations
  • The property must have a minimum of five paid sites
  • The percentage of homes owned by a borrower-affiliate or third-party investor cannot exceed 25% in aggregate
  • Homes must conform to the requirements of the Federal Manufactured Home Construction and Safety Standards Act of 1974 (HUD Code Standards)
  • Private wells and septic systems are allowed with considerations
  • Leases cannot contain options to purchase pad site
  • Retail sales or financing by borrowing entity of any manufactured home are not allowed
  • RV campgrounds and broken condominiums are excluded
MHC Tenant Protections Within 12 months after loan origination, MHC Tenant Protections must be included in all leases, community rules and regulations, or other written agreements approved by Lender, with owners and renters of Manufactured Homes at the property, as applicable:

  • One year renewable lease term, unless there is a good cause for non renewal. Good cause includes violations of law, an existing default in the payment of rent at time of lease renewal (subject to applicable grace period and cure rights), and serious or repeated violations of the material terms and conditions of its lease
  • 30-day written notice of rent increases*
  • Five day grace period for rent payments and the right to cure rent payments defaults within the cure period set forth in the lease. If the lease has no cure period, then the right to cure the rent payment default within 10 days after expiration of the four day grace period.*
  • Right to sell the manufactured home to a buyer that qualifies as a new tenant in the MHC, without having to first re-locate it out of the MHC
  • Right to sell the manufactured home in place within 30 days after eviction, subject to MHC owners right to prevent a dangerous condition or any threat or risk of bodily harm to tenants or visitors of the MHC; nothing prohibits the MHC owner from exercising any right or remedy available against tenant under law
  • Right to (a) sublease, and (b) assign the pad site lease for the unexpired term to the new buyer or sublessee of the tenant’s manufactured home without any unreasonable restraint, so long as the new buyer or sublessee, as applicable, qualifies as a new tenant within the MHC (including satisfying applicable credit and background checks and requirements in the MHC rules and regulations)
  • Right to post “For Sale” signs that comply with MHC rules and regulations
  • Right to receive at least 60 days’ notice of planned sale or closure of the MHC*

Any protection that violates applicable law or is less favorable to a resident than applicable law will be automatically void and will not affect the enforceability of any other provisions of the agreement.

Note: *All eight protections apply to owners of manufactured homes at the Property. Protections 2, 3 a nd 8 also apply to renters of manufactured homes at the Property.


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