Multifamily

News coverage of the multifamily housing market for owners, brokers, agents, investors, lenders, appraisers and other service providers. Apartment and condo coverage including market rate, luxury, affordable, student housing and senior housing.

ARTICLES

  • Faith in multifamily still strong despite month-over-month drop in permits

    Confidence in long-term fundamentals remains strong
    According to U.S. Census and HUD data, multifamily permits dropped 8.7% from April to May, and though that may sound like a significant drop, experts say the multifamily train is still rolling and that the nation is on track to complete 350,000 plus units by year’s end. And that's a good thing.
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  • MBA, NMHC, others call on CFPB to change multifamily HMDA rules

    Want exemption from HMDA reporting for business-to-business loans
    The Mortgage Bankers Association, the National Multifamily Housing Council, and several other prominent trade groups are calling on the Consumer Financial Protection Bureau to change the Home Mortgage Disclosure Act rules for multifamily lending. The groups want the CFPB to completely exempt multifamily business-to-business lending from HMDA reporting requirements.
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  • Walker & Dunlop joins Freddie Mac SFR pilot program

    Walker & Dunlop will provide $10 million to $25 million for affordable single-family rentals
    Walker & Dunlop is partnering with Freddie Mac to bring its affordable single-family rental pilot program to life. The program offers additional financing option for workforce and affordable rental housing in one to four-unit buildings. Walker & Dunlop’s dedicated SFR team will focus on providing loans to middle markets with an average loan size of between $10 million and $25 million.
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  • A new multifamily consultation firm enters the ring in New York

    Carole Bloom launches the Bloomstone Group to cover the gamut of multifamily needs
    A new multifamily real estate company launched in New York today. Bloomstone Group, a full-service real estate advisory firm, will offer its services in consulting, development, marketing, sales and leasing for multifamily residential projects and condominium properties.
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  • Walker & Dunlop taking on the West Coast, hires Javier Rivera to develop its investment sales platform

    Rivera will serve as senior vice president of new West Coast investment sales office
    Walker & Dunlop hired Javier Rivera as senior vice president to help lead its newly minted West Coast multifamily investment sales team. Before he signed on with Walker & Dunlop, Rivera was an executive vice president with JLL’s Capital Markets Group and built the company’s multifamily investment sales and finance business in Southern California.
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  • FHLBank Pittsburgh, Pennsylvania Housing Finance Agency partner to deliver funding to fight homelessness

    The two entities will provide $4.5 million to Pennsylvania organizations that fight homelessness and promote affordable housing
    Federal Home Loan Bank Pittsburgh and the Pennsylvania Housing Finance Agency are partnering to create fund programs that help fight homelessness and assist people at risk of losing their housing. Home4Good, a housing entity aimed at ending homelessness in the state of Pennsylvania, just got $4.5 million from FHLBank Pittsburgh and the Pennsylvania Housing Finance Agency to fund its launch.
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  • San Diego Homeowners Association wins $2.9M construction defect lawsuit

    HOA locks down a $2.975 million settlement for the homeowners association
    The San Diego Homeowners Association was awarded $2.975 million in damages from a construction defect suit. The Naumann Law Firm filed the lawsuit in the San Diego County Superior Court on behalf of the homeowners association against the unnamed developer of a 230-unit condominium built between 2004 to 2005.
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  • Mack-Cali exec leaves for greener pastures

    Vice Chairman and one-time CEO Mitchell Rudin is pursuing a position with another company
    Mack-Cali Realty’s Vice Chairman and one-time CEO Mitchell Rudin is parting ways with the office and multifamily focused real estate investment trust on his way to greener pastures. Rudin has been with Mack-Cali since 2015.
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