Open for Business
Freddie Mac was still providing competitively priced permanent debt for 9 percent low-income housing tax credit deals and actively quoting variable-rate bond credit enhancements in mid-December 2008.
Uncertainty of Execution
Fannie Mae and Freddie Mac lenders usually end the year with a flourish, processing deals hand over fist. But as 2008 came to a close, fewer affordable housing loans were closing.
RCG Longview Closes $600 Million Debt Fund
New York-based RCG Longview recently closed a $602.5 million debt fund, with about half of it likely targeted at multifamily borrowers.
HUD Prepares a Plan to Struggling HFAs
A federal plan aimed at helping boost housing finance agencies (HFAs) is in the final stages of being prepared, according to an official at the Department of Housing and Urban Development (HUD).
GSEs’ Lending Practices Usher in Soft Landing for Apartment Sector
As the last men standing in the multifamily debt game, Fannie Mae and Freddie Mac are single-handedly keeping apartment values from dropping to unrealistic levels.
Joint Venture Enables ARA to Expand into Debt Market
Apartment Realty Advisors (ARA) has plunged into the debt financing market through a joint venture with CWCapital.
Capmark Finance Teeters On the Verge of Bankruptcy
Some of the multifamily industry’s largest lenders, including Washington Mutual, Wachovia, and Column Financial, have fallen from grace in the past year.
Foreign Investors Ready Funds for Second Half
Foreign real estate investors are growing increasingly optimistic that the U.S. commercial real estate market will rebound in the second half of 2010.
Public, Private Firms Turn to Floating-Rate Debt as a Hedge
Despite the recession, the multifamily industry is, in some ways, leading a charmed life.
Fannie and Freddie's Affordable Housing Debt Grows Costly
As affordable housing developers get set to ramp up dormant projects, Fannie Mae’s and Freddie Mac's high rates on forward commitments are forcing many to look elsewhere for debt.