Analysis

Top Articles of 2025: The Rental Housing Market Holds Strong

The U.S. rental housing market remained strong and stable in 2025, spreading through the multifamily and single-family rentals sectors. Here’s a look at this year’s top articles from Arbor Realty Trust, in case you missed them.

Uncategorized

Mezzanine Financing Provides Higher Leverage and More Control

Senior debt, a foundational element of most multifamily property acquisitions and developments, rarely covers the full capital requirement. To bridge the gap between what senior lenders offer and what sponsors need, many borrowers pursue mezzanine financing, which provides greater leverage and more control.

Current Reports

Single-Family Rental Investment Trends Report Q4 2025

The single-family rental (SFR) sector once again demonstrated strength and durability last quarter amid a general softening of the for-sale home market. Arbor Realty Trust’s Single-Family Rental Investment Trends Report Q4 2025, developed in partnership with Chandan Economics, leverages first-class data analysis to show why SFR’s investment return profile has grown more attractive in the last year.

Articles

LIHTC Increase Set to Support Affordable Housing Expansion in 2026

Low-Income Housing Tax Credit (LIHTC) allocations are about to grow following funding extensions included in the One Big Beautiful Bill Act (OBBBA), signed into law in July. With market-based borrowing costs also declining, the affordable rental sector could be on the verge of its most accommodative financing environment in years.

Articles

Arbor Rolls Up Its Sleeves for Habitat for Humanity in Miami and Boston

Alongside our award-winning work, Arbor Realty Trust’s nationwide staff consistently gives back to the communities where we live and work. This fall, several of our teams rolled up their sleeves to assist Habitat for Humanity chapters in Miami and Boston with housing initiatives that are making a difference locally.

Articles

Emerging Multifamily Trends for 2026

Rental housing’s long-term investment outlook remains head and shoulders above its peers, driven by structural supply constraints and steady demand growth, finds the 2026 Emerging Trends in Real Estate report. Explore this trend and other key takeaways from the 47th edition of Urban Land Institute (ULI) and PwC’s influential industry report.

General: 800.ARBOR.10

Home | Our Team | Noah Passage

Noah Passage

Associate, Sales
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Noah Passage provides assistance with originations of various loan products across Arbor’s platform, including Fannie Mae, Freddie Mac, FHA, SFR, Bridge, CMBS, Mezzanine and Preferred Equity transactions. He joined Arbor in 2019 as an Agency Production Associate, and was promoted to Associate, Sales in 2022.

Mr. Passage has more than nine years of real estate industry experience. Prior to Arbor, he served as a Portfolio Analyst at Berkadia for their proprietary lending group. Before joining Berkadia, he monitored the credit performance of a portfolio of Commercial Mortgage-Backed Securities for KBRA. Earlier in his career, he worked in acquisitions for a multifamily owner and operator. Mr. Passage is well-versed in the transaction lifecycle and has extensive experience in underwriting, financial modeling, and credit analysis.

Mr. Passage earned a Bachelor of Business Administration in Finance from Temple University’s Fox School of Business.

[email protected] | 717.468.8781
Conshohocken, PA

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