Articles

Multifamily is Well-Positioned for Short- and Long-Term Growth

With the macroeconomy maintaining its underlying strength and a handful of rate cuts expected by the Fed within the next 18 months, green shoots of optimism within the multifamily sector are multiplying. Even as high interest rates impede normal operations, stabilization is underway while the sector’s long-term prospects remain unwavering. In this deep dive, our research teams will explore the tailwinds underpinning the multifamily sector’s short- and long-term outlook.

Refinance of Existing HUD-Insured Loan

FHA® Interest Rate Reduction (IRR) Refinance of Existing HUD-Insured Loan   Arbor provides this program to reduce the interest rate on qualified existing HUD-insured multifamily loans. The HUD-insured loan remains in place, with reduced payments based on the new rate, the current balance, and the remaining term. The existing prepayment penalty must be paid in full. V041624

Mortgage Insurance for Rental Housing for Urban Renewal and Targeted Redevelopment

FHA®220 Mortgage Insurance for Rental Housing for Urban Renewal and Targeted Redevelopment*   Arbor provides FHA-insured, long-term, fixed rate financing for new construction and substantial rehabilitation of multifamily projects nationwide. This program provides for both construction and permanent financing for projects in urban renewal areas and other areas where local governments have undertaken designated revitalization activities. Applications are typically processed in two stages (preliminary application followed by firm application). Affordable/rental assisted projects and HUDexperienced development teams may request a “straight to firm” application, saving significant time by eliminating the preliminary application stage. V020224

Articles

Regional Construction Trends: Annual Multifamily Completions Surged in the South and West

After the volume of newly issued multifamily permits hit a 37-year high in 2022, multifamily completions surged another 22.3% last year. As the sector continues to gain strength, its growth has remained concentrated in the southern and western regions of the country, according to an analysis of new data from the U.S. Census Bureau’s Survey of Construction.

Articles

The Evolving Characteristics of Multifamily Construction

During the post-global financial crisis (GFC) cycle, a disproportionate share of new multifamily construction was of high-rise units in properties with amenities. However, the tides have turned. The rising cost of homeownership has brought the need for more affordable housing development in the U.S. to the top of many legislative agendas. In this deep dive, our research teams utilize data from the U.S. Census Bureau’s Annual Survey of Construction to show how and why the characteristics of new multifamily properties continue to evolve alongside shifting market needs.

Articles

Video: Growing LGBTQIA+ Visibility in the CRE Industry

LGBTQIA+ Pride Month is recognized in June, but its lessons are timeless. During a recent conversation between Tres Seippel, Director, Construction Management at Arbor, and Dr. Sam Chandan, Founder of Chandan Economics, Founding Director, NYU Chen Institute for Global Real Estate Finance, and Co-Chair of the Real Estate Pride Council, Seippel shared why it is more important than ever for the industry to embrace visibility and show support for employees who identify as LGBTQIA+ or other diverse backgrounds.

Articles

Video: Dr. Chandan’s Affordable Housing Trends Report Takeaways

In this exclusive, new video, Dr. Sam Chandan, Founding Director of the Chen Institute for Global Real Estate Finance at the NYU Stern School of Business and non-executive chairman of Chandan Economics, contextualizes the key takeaways from Arbor’s Affordable Housing Trends Report Spring 2024, developed in partnership with Chandan Economics.

General: 800.ARBOR.10

REIT launches $2M rental assistance program

REIT launches rental assistance program

Long Island-based Arbor Realty Trust has launched a $2 million interest-free loan program for its borrowers’ tenants.

The real estate investment trust, which is headquartered in Uniondale and is a multifamily and commercial lender, will contribute $1 million to the fund, representatives for the company said. Landlords — who must be Arbor borrowers to participate — will match Arbor’s contributions and must provide a minimum of $10,000 to the fund.

To qualify for rental assistance, tenants must prove they have suffered at least a 30 percent drop in income and have a rent of $2,000 or less.

Under the program, if a tenant needs $3,000 to cover rent for the next two months, Arbor and the landlord would each provide $1,500. The loan could be repaid over as long as three years, depending on the tenant’s circumstances.

Other companies are offering breaks to borrowers. For example, Community Bank, one of New York City’s largest multifamily lenders, is allowing borrowers hurt by Covid-19 to either pay only interest and escrow payments for six months or defer principal and interest for six months.

A moratorium on evictions is in place in New York through mid-June. Landlords are bracing for a drop in rent payments next month as the coronavirus pandemic continues. Tenant advocates in New York and Pennsylvania have called for a rent strike May 1. State and federal officials have proposed legislation that would temporarily suspend rent and mortgage payments.