Rent Payment Tracker finds rent payment rate at 95 percent of prior month
The National Multifamily Housing Council (NMHC) found that 89 percent of apartment households made a full or partial rent payment by April 19 in its survey of 11.5 million units of professionally managed apartment units across the country,...
Rate Desk April 21, 2020
Rate Desk April 21 edition
All three major indices down
Crude oil back up to $9.69
UST .58 bp
223(f) 2.62%
221(d)(4) 3.27%
Fannie 3.40%
Freddie 3.50%
Millennial household formation down
Renting isn’t a...
IPA Capital Markets arranges $22.36 million multifamily acquisition loan
IPA Capital Markets, a division of Marcus & Millichap Capital Corp., has arranged $22,365,000 for the purchase of an 85-unit multifamily asset in West Covina, California.
“We have worked with these borrowers previously on arranging...
Infographic: Everyone is essential
UPDATED: April 30, 2020
30+ million unemployed
Breaking the previous record of 695,000 from 1982. Not counted are part-time, self—employed and gig workers who have also lost their livelihoods.
50 million deaths from Spanish Flu 1918-1919
234 thousand...
NMHC top 50 lists released
The National Multifamily Housing Council (NMHC) released its list of the largest firms in the US multifamily housing industry. The firms are ranked by units in buildings with 5 or more units. The results...
Interra Realty brokers $1.45 million sale of apartment building in Oak Park, Ill.
Interra Realty, a Chicago-based commercial real estate investment services firm, announced it brokered the $1.45 million sale of 426 Wesley Ave., an 11-unit apartment building in Oak Park, Ill., a western suburb of Chicago....
Pamela McGlashen joins Kaplan as president of management
Kaplan, a vertically integrated multifamily development, management and investment firm headquartered in Houston, TX with regional offices in Irvine, CA, Phoenix, AZ and Tampa, FL, today announced that Pamela McGlashen has joined its executive...
MassHousing completes workforce housing financing for new, 68-unit housing community in Newton
MassHousing has closed on $1.3 million in affordable workforce housing financing to Austin Street Partners LLC, for the new, 68-unit 28 Austin Street in Newton, which offers 23 workforce housing apartments for lower- and moderate-income households.
The recently completed...
Greystone Bel completes $4 million sale of 105-unit multifamily property in Saginaw, MI
Greystone Bel recently closed the sale of The Poplars Apartments, a 105-unit multifamily property in Saginaw, Michigan for $4,000,000 or $38,095 per unit.
Austin Hull of the Greystone Bel Real Estate Advisors investment sales team...
Rate Desk April 20, 2020
April 20 edition
S&P and Dow down, Nasdaq up
UPDATE! US oil futures plunged below zero
UST .634 bp
223(f) 2.65%
221(d)(4) 3.30%
Q4 weighted average still under 1%
Extended low long-term fixed rates
...
HUD funds COVID-19 related fair housing activities
The U.S. Department of Housing and Urban Development (HUD) announced it is awarding $1.5 million in Partnership and Special Enforcement Effort funds to HUD Fair Housing Assistance Program (FHAP) agencies to support COVID-19 education...
Rate Desk April 17, 2020
Michael Thomas interviews John Hinder, senior director of the nation’s largest GSE multifamily lender, Walker & Dunlop. Hinder discusses the financing landscape for borrowers in these exceptional times.
Two Central California multifamily assets sell for $38.5 million
Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of two multifamily properties in Fresno, California. The communities are Boulder...
Survey shows significant delays in apartment construction
The percent of apartment developers reporting construction delays remained essentially the same in the second iteration of the National Multifamily Housing Council’s (NMHC) Construction Survey—56 percent compared to 55 percent in the April 3...
Rate Desk April 16, 2020
April 16 edition
S&P and Dow down, Nasdaq up
UST .602
223(f) 2.65%
221(d)(4) 3.30%
Fannie 3.17%
Freddie 3.50%
Municipal bonds:
Permanent debt instruments
Revenue bonds paid back by revenue
Publicly rated by rating...
