Multifamily

Hunt Mortgage hires Kevin Chadwick as managing director

Will oversee financing in the Western and Rocky Mountain regions of the U.S.
Hunt Mortgage hired Kevin Chadwick to helm its multifamily financing operations in the Rocky Mountain and Western regions of the U.S. As managing director, Chadwick will be responsible for conventional loan production along with the origination of debt and equity products for multifamily and other commercial assets in those regions.
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Buckingham Partners debuts first multifamily fund at $175 million

The Buckingham Companies affiliate will seek value-add investments in secondary markets
Buckingham Partners, an affiliate of Buckingham Companies, closed its first multifamily fund, Buckingham Multifamily Fund I. The fund totals $175 million and will target value-add investments in fast-growing secondary markets in the Midwest and Southeast U.S.
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CoreVest steps up its bridge lending game

Company will now offer bridge lending to multifamily properties up to 150 units
CoreVest announced Monday it expanded its bridge lending platform to include multifamily properties up to 150 units. Citing customer demand for bridge lending, which likely comes from a lack of investor interest in new multifamily construction, CoreVest said it will offer loans in the $250,000 to $25+ million range.
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In the pipeline: Navigating this multifamily sellers' market

Settle in for a long, slow climb as multifamily housing takes center stage
The multifamily market is in on hold as far new starts go with the exception of an odd permitting blip registered over the course of March, in which permit numbers spiked by 19%. That aside, researchers are predicting a slowdown in new construction starts as the market is full-up on Class-A product, and construction costs don’t allow for them to build Class-B product.
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Report: Millennials not moving out of mom's basement

The number of Millennials living with their mothers is on the rise
A new report from Zillow reveals that more Millennials live with their mothers now than at any other time in the last decade. In 2005, 13.5% of adults age 24 to 36 lived with their moms. That number now is up around 25% now, which means about 12 million Millennials reside in casa de madre.
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Report: Multifamily rents on the rise

Yardi-Matrix's monthly report shows strong rent growth and dipping occupancy
U.S. multifamily rents climbed $4 in April, moving from $1,373 to $1,377, according to a survey of 121 markets by Yardi-Matrix. More than just the typical seasonal bump in spring and summer, the growth reflects a 2.4% year-over-year gain, which is the highest since last spring.
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