Articles

Financing a Build-to-Rent Community Through Construction, Lease-Up, and Stabilization

Single-family rentals (SFR) now house 41% of the U.S. renter population, according to Rentometer Mid-Year Report 2025: National Trends in Single-Family Rental Markets. Arbor provides investors with short-term and long-term SFR financing to meet this growing demand. Whether a sponsor is developing a build-to-rent (BTR) community, holding an SFR portfolio long-term, or acquiring assets to rehab, Arbor finances build-to-rent (BTR) communities across construction, lease-up, and stabilization under one lender relationship, backed by the strength of an $802 million BTR collateralized loan obligation Arbor closed in May 2025.

Articles

Why Top Multifamily Lenders Practice Disciplined Underwriting

Every multifamily lender says it underwrites conservatively, but few follow a truly disciplined approach. Arbor Realty Trust’s own record is a case in point, with 19 consecutive years in the Top 10 Fannie Mae Multifamily DUS Lenders, a top-three ranking in Freddie Mac’s Conventional Small program, and an upgraded Commercial Special Servicer rating from Fitch Ratings in January 2026.

Investment

Special Report Fall 2026

Arbor Realty Trust’s Special Report Fall 2026, developed in partnership with Chandan Economics, leverages data-driven research to detail the state of the rental housing market. Amid headwinds, multifamily remained resilient in a selective investment environment favoring disciplined underwriting and market selection. Attractive entry points for well-positioned investors continue to populate the road ahead.

Analysis

U.S. Multifamily Market Snapshot — September 2026

The U.S. multifamily market remains on stable footing in a mixed macroeconomic climate. Rent growth continued to trend upward through the second quarter, while apartment fundamentals remained resilient amid slowing employment growth and elevated vacancies.

Current Reports

Single-Family Rental Investment Trends Report Q3 2026

Arbor’s latest Single-Family Rental Investment Trends Report highlights how this commercial real estate sector performed resiliently in the face of adversity last quarter. Even as policy uncertainty created new headwinds, firm operating fundamentals drove SFR forward.

Articles

Build-to-Rent Activity Remained Elevated Amid Policy Uncertainty

Build-to-rent (BTR) development remained resilient in a complicated operating environment last quarter as production continued to normalize, according to newly released U.S. Census Bureau data. Despite political uncertainty, higher capital costs, and other headwinds, BTR maintained a historically high share of new single-family construction.

General: 800.ARBOR.10

Kenneth J. Bacon

Director
Kenneth J Bacon

Kenneth J. Bacon was appointed to Arbor Realty Trust’s Board of Directors in April 2020 and serves as a member on the Audit and Corporate Governance Committees.

Mr. Bacon is co-founder and managing partner of RailField Partners, an investment management firm that invests in and operates multifamily properties on behalf of institutional investors. Prior to forming RailField, he spent 19 years at Fannie Mae as the Executive Vice President of Multifamily Mortgage Business, where he grew the firm’s portfolio from $56 billion to more than $195 billion. He also managed the American Communities Fund at Fannie Mae, which was established to provide loans and equity to for-sale and rental housing developments to increase the supply of affordable housing and to revitalize communities. Before joining Fannie Mae, he was Director of the Office of Securitization for the Resolution Trust Corporation and held officer positions at Morgan Stanley and Kidder Peabody.

Mr. Bacon also serves as Chairman of the Board of Directors at Welltower and Washington, D.C.-based non-profit Martha’s Table and is also a board member at Comcast, Ally Financial, and the Urban Institute. He also serves on the Board of Directors for Dominium, one of the nation’s largest privately-owned affordable housing development and management companies. Mr. Bacon is active in several nonprofit and trade groups, including the Board of the Real Estate Executive Council, the National Multifamily Housing Council, and the Advisory Board of the Stanford Center on Longevity.

Mr. Bacon is an alumni and former trustee of Stanford University, where he received his Bachelor of Arts. He also has a Master of Science in International Relations from the London School of Economics, where he studied as a Marshall Scholar, and a Master of Business Administration from Harvard Business School. He was awarded the Order of the British Empire by the British government in recognition of his service to the Marshall Scholars program.

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