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.



Student Housing

Arbor’s Student Housing financing product provides attractive terms and competitive prices for the purchase or refinance of properties that, because of construction and location, specifically cater to a student tenant base and may or may not be readily convertible to conventional multifamily housing.

Eligible Borrowers
  • 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, real estate investment trusts (REITs) and certain trusts may also be acceptable in limited circumstances, subject to additional requirements
  • Borrower must generally be a Single Purpose Entity (SPE); however, on loans less than $5 million, upon borrower’s request, a borrower other than a TIC may be a Single Asset Entity instead of a SPE
  • If the borrower is structured as a TIC, each tenant in common must be a SPE
Eligible Property Types
  • Purpose-built student housing properties; must have a minimum of one bathroom for every two bedrooms and each apartment must have a separate
  • Stabilized garden, mid-rise and high-rise apartment properties that are greater than 50% occupied by student tenants
  • Supporting college/university has 10,000 or more students; student housing properties located within close proximity to multiple schools that have a combined student body of 8,000 students or more will be considered
  • Property is located less than two miles from college/university or on a public transportation route
Loan Amount $5 million to $100 million (larger and smaller loans will be considered)
Loan Term 5 to 10 years (up to 30 years for fixed-rate loans if loan is not purchased for securitization)
Maximum Amortization 30 years
Financing Options Acquisition or refinance
Ground Lease Ground lease for land owned by a college or university may be permitted with prior approval
Lease Parameters
  • Individual tenant lease by the apartment, bedroom or by the bed
  • Rent under a master lease may be permitted with prior approval/li>
Lease Terms 12-month lease is preferred, although a shorter lease (of nine months or more) will be considered
Lease Guaranty Parental guaranty is preferred
Minimum DSCR 1.30x / 1.35x / 1.40x / 1.45x (Refer to: Student Housing Loan ( for grid)
Maximum LTV 65% / 70% / 75% / 80% (Refer to: Student Housing Loan ( for grid)
Tax & Insurance Escrows Generally required
Replacement Reserve Deposit Generally a minimum of $150 per bedroom or $300 per unit
Recourse Requirement Nonrecourse except for standard carve-out provisions
Supplemental Loans Available subject to requirements in the Loan Agreement and current Freddie Mac program and product requirements at the time of the supplemental loan request
Exclusions Residence halls or other multiple occupancy rooms with a shared common bathroom and centralized food service areas or dining halls
Early Rate-Lock Options (For Fixed-Rate Loans) Early rate-lock and Index Lock options available
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
Application Deposit Greater of $2,000 or 0.1% of loan amount


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