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Multifamily Wins International Jackpot
Jason Ottman never got to clink a glass with his equity partners. Not when he attended the closing of the deal to build Alexan Westgate in Glendale, Ariz. Not when the project was finished.
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Turbulent Tax Credit Market Searches forBalance
It has been a cold winter for low-income housing tax credit (LIHTC) developers.
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Still the One
Multifamily developers are getting reacquainted with an old friend in 2008.
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Caught in the Middle
Mezzanine financing is readily available for multifamily developers, but not nearly as affordable as it was this time last year.
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Developers Rescue State Public Housing
GREAT NECK, N.Y. - The people who live at Spinney Hill Homes here need some help. Their 50-year-old apartments are falling apart around them.
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A Flight Toward Certainty
While many lenders are experiencing declining volumes and tightening their underwriting standards in the first quarter of 2008, the Federal Housing Administration (FHA) is having a resurgence.
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Volatile Investment Market Prompts Warning on Pricing
First came the chill left by the retreat of several leading low-income housing tax credit (LIHTC) investors.
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Developers Choose Swaps for Security
Swaps have taken over from caps as the first choice of price-conscious borrowers using loans funded by tax-exempt bonds.
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Turbulence Ahead
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.
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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.