Worries Grow Over Major Portfolio Sales
The possibility of Freddie Mac and Fannie Mae selling a large portion of their lowincome housing tax credit (LIHTC) portfolios looms over the struggling tax credit market.
When Trinity Property Consultants began its search for revenue management software, it naturally turned to the industry’s two leading offerings, Rainmaker’s LRO and Real- Page’s YieldStar.
Affordable, If You Can Find It
While construction financing remains relatively affordable, fewer deals are penciling out these days, and underwriting standards continue to tighten.
COLUMN FINANCIAL, THE commercial real estate lending arm of Credit Suisse, officially closed its doors in late March, shutting down its remaining offices in Dallas, Los Angeles, and Chicago.
Private Money Steps Up
SMALL, PRIVATE EQUITY GROUPS are flooding the marketplace, and investors are targeting cash-on-cash returns over internal rate of return (IRR), say industry experts.
Obama Outlines Spending Plans
President Barack Obama has outlined a fiscal 2010 budget that provides more funding for federal housing programs, including $1 billion for the national Affordable Housing Trust Fund.
Meeting Multifamily Mortgage Needs
Though the current financial crisis originated in the single-family sector, as APARTMENT FINANCE TODAY readers well know, it has since spread to other sectors. Thus, there is a looming liquidity crisis that could seriously impair the apartment sector.
Making Room for Green
DEERFIELD BEACH, FLA.—While other developers are tightening their corporate belts, Carlisle Development Group found a surplus in the construction budget for its Tallman Pines redevelopment big enough to try green building, thanks to conservative budgeting and boom-time tax credit prices.
Richard L. McQuady has been named CEO of Kentucky Housing Corp.
Credit Crisis Squeezes Deals
Affordable housing developer Volunteers of America (VOA) had to switch lenders twice before it could sell tax-exempt bonds backed by the loan to Sierra Manor, a Sec. 202 community affordable to lowincome seniors in Reno, Nev.