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.
Turbulent Tax Credit Market Searches forBalance
It has been a cold winter for low-income housing tax credit (LIHTC) developers.
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.
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.
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.
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.
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.
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.
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.