The Federal Housing Administration (FHA) continues to win more business as the credit crunch deepens and many sources of liquidity recede.
Still the One
Multifamily developers are getting reacquainted with an old friend in 2008.
Caught in the Middle
Mezzanine financing is readily available for multifamily developers, but not nearly as affordable as it was this time last year.
Putting the Squeeze On
Amid the ongoing credit crunch, the most entrepreneurial apartment developers—those who seek the maximum amount of construction debt available for their projects—are swallowing a dose of lowerleverage reality.
The Power of One
Guy Johnson knows what it’s like to be part of a dying breed.
Fannie Mae and Freddie Mac lenders are used to rushing to close deals at the end of the year, but December 2007 was crazier than usual.
Agency Debt Gets Expensive
Fannie Mae and Freddie Mac have raised their prices for both long- and short-term debt in the last few weeks as their losses from the single-family sector continue to pile up.
The Best Debt Financing Strategy in an Unpredictable Market
Despite a capital markets meltdown, Fannie Mae and Freddie Mac are still providing debt financing at reasonable rates, and even the FHA is emerging as a viable alternative for tax credit developers, said panelists at AHF Live.
Apartment Owners Look Ahead
Problems in the securitized lending world won’t have a significant impact on the availability of equity and debt for quality properties in good markets, said R. Lee Harris, president and CEO of Cohen-Esrey Real Estate Services in Overland Park, Kan.
Tax-Exempt Bond Financing Weathers the Storm
Tax-exempt bond financing will be readily available and affordable in 2008, with industry watchers reporting that price increases were rare even as the capital markets remained in flux heading into the fourth quarter of 2007.