Fannie/Freddie/Multifamily

Wells Fargo CRE Banker Joins Monarch Private Capital

Steve Lubetkin | July 06, 2018

“I’ve seen firsthand the stimulus of tax credits on the affordable housing industry and how they help to create quality homes," says Monarch Private Capital's Sean Cammann.

One Way Or Another, The GSEs Are Targeted For Change

Erika Morphy | June 25, 2018

As part of a larger sweeping government reorganization plan, the Administration is seeking to increase private market competition in the mortgage finance system. Meanwhile FHFA wants to establish new capital requirements in the enterprises’ mortgage guarantees and portfolio holdings.

Newark Mayor's Affordable Housing Goals Bear Fruit in South Ward

Steve Lubetkin | May 04, 2018

Radiant will spend $15 million to renovate the 209 units of affordable housing in five phases, over eighteen months.

Video

New Funding Platform, iintoo, Sees Opportunities in NJ, Philadelphia, Other Cities

Steve Lubetkin | May 01, 2018

Watch our exclusive TV interview with Jeff Holzmann, managing director of funding platform iintoo.com.

SunTrust Commercial Real Estate to Sunset Pillar Financial Brand

Steve Lubetkin | April 30, 2018

“We are seeing a lot of opportunities across our bank footprint and nationally, our multifamily lending base continues to be robust,” says Paul Woodworth, senior vice president and head of agency lending for SunTrust.

Buckhead-Based Angel Oak Enters CRE Financing Space

Steve Lubetkin | April 24, 2018

“There is a lending void in specific segments of commercial real estate, especially those under $5 million in size,” says Ben Easterlin V, senior vice president of commercial lending at Angel Oak, and managing director of the new commercial lending arm.

Greystone, Hallmark Partner on $169M GA Affordable MF Rehab

Steve Lubetkin | April 13, 2018

The rehabilitation plan includes a fast-paced construction phase, estimated to be complete within 24 months, during which no residents are expected to be permanently displaced.

Event Coverage

‘Headwinds and Tailwinds’ in CRE Finance

Paul Bubny | February 13, 2018

Fewer scheduled maturities are among the reasons that the Mortgage Bankers Association expects originations to decline slightly this year, says MBA's Jamie Woodwell.

Middle Market Digest – The Northeast

Steve Lubetkin | February 09, 2018

A roundup of the latest leases, sales and other transactions in the Northeast middle markets.

Middle-Market Digest

Middle Market Digest: The Northeast

Steve Lubetkin | January 30, 2018

A roundup of recent deals, leases, executive moves, and other news from the past week.

Middle-Market Digest

Middle Market Digest-The Midwest

Brian J. Rogal | January 30, 2018

The latest deals and trends in the Midwest region.

Berkadia Poll Points to Ongoing Momentum

Paul Bubny | January 18, 2018

At this week’s NMHC Annual Meeting, Berkadia’s Ernie Katai heard repeatedly that “there is just a need to continue to get capital out,” he tells GlobeSt.com.

GSEs Get Their Capital Cushions Back

Paul Bubny | January 02, 2018

FHFA Director Mel Watt testified before Congress this past October that Fannie and Freddie needed some form of capital buffer to protect against short-term operating losses.

Commentary

The Future Is Now for Green Housing

Willy Walker | December 29, 2017

Loan programs deliver big rewards for developers, families and the environment, says Walker & Dunlop's Willy Walker in this EXCLUSIVE commentary.

Trent Brooks to Lead RED Mortgage

Paul Bubny | December 13, 2017

The 30-year veteran of multifamily finance brings longstanding agency relationships to RED Mortgage Capital, which he’ll lead as president and national head of production.

CMBS Reverses Decade-Long Downward Trend

Paul Bubny | December 13, 2017

With new originations now outpacing payoffs of older loans, “the result is the largest increase in outstanding CMBS mortgages since the end of 2007,” says Jamie Woodwell at the Mortgage Bankers Association.

Weighing GSE Reform’s Impact on Multifamily

Paul Bubny | December 01, 2017

Among other considerations, Congress will need to assess the viability of separating single-family and multifamily lending into standalone platforms, write Hal Collett and Mike McRoberts at PGIM Real Estate Finance.

GSE Veteran Heads Berkadia’s Mortgage Banking

Paul Bubny | November 30, 2017

Over a four-year period, Hilary Provinse led Fannie Mae’s multifamily production team to double its production volume.

Mortgage REIT Adds $50B Servicing Platform

Paul Bubny | November 29, 2017

The acquisition of Shellpoint Partners will provide New Residential Investment Corp. with recapture abilities that can both enhance returns on its existing mortgage serving portfolio and create new revenue channels, says CEO Michael Nierenberg.

Can Single-Family Workforce Housing Be Managed Like Apartments?

Steve Lubetkin | November 29, 2017

Listen to our exclusive audio interview with Tawan Davis about how Steinbridge is committing $425 million for the acquisition and refurbishment of single-family and small multifamily residences as rental housing in transitioning neighborhoods in major US cities, starting with Philadelphia.

NMHC, NAA Urge ‘Consistent Access’ to Debt

Paul Bubny | November 03, 2017

Testifying before a House subcommittee Thursday, the National Multifamily Housing Council’s chairman told lawmakers that private capital should dominate the apartment sector “wherever and whenever possible.”

‘Not Even the Same Game Anymore’

Paul Bubny | November 02, 2017

As banks have pulled back from construction financing, alternative lenders are finding fertile ground there. Walker & Dunlop's Jamie Butler takes us on a tour of the landscape.

Multifamily Lending Hit New High in 2016

Paul Bubny | October 20, 2017

“Market momentum has continued in 2017, with strong demand from borrowers and a strong appetite to lend,” says Jamie Woodwell with the Mortgage Bankers Association.

CRE Debt Volume Rises, Except for CMBS

Paul Bubny | September 28, 2017

For the first time since 2015, multifamily originations grew more slowly by dollar volume than debt for other property types, says Jamie Woodwell at the Mortgage Bankers Association.

ORIX Adds Lancaster Pollard to Mortgage Platform

Paul Bubny | September 15, 2017

The deal is seen as complementary to ORIX’s previous acquisitions of RED Capital Group in 2010 and Boston Financial Investment Management in 2016.

Survey: Multifamily Execs See Continued Market Growth

Paul Bubny | September 07, 2017

However, Freddie Mac says a plurality of survey participants are less optimistic about the outlook for affordable housing by comparison to a year ago.

Keifer Joins Berkeley Point, Heading Affordable and Srs. Platforms

Paul Bubny | August 30, 2017

The 20-year veteran of multifamily and healthcare mortgages joins Berkeley Point Capital a month after its sale to BGC Partners was announced.

Berkeley Point Deal Has Built-In Synergies with NKF

Paul Bubny | August 03, 2017

Barry Gosin, CEO of Newmark Knight Frank, says the acquisition of Berkeley Point Finance by parent company BGC Partners “will increase the scale and scope of NKF, and it will increase the scale and scope of Berkeley Point.”

CRE Loan Volume Up 20% Year-Over-Year

Paul Bubny | August 02, 2017

For the second quarter, “commercial/multifamily mortgage bankers' originations increased despite a slowdown in the volume of sales transactions," says Jamie Woodwell at the Mortgage Bankers Association.

Class Gap in Construction Favors Multifamily CMBS

Paul Bubny | August 01, 2017

Most new apartment builds are class A, while most post-crisis multifamily securitizations are backed by workforce collateral, says Kroll Bond Rating Agency.

WinnCompanies Modernizing Affordable Rental Units in Bridgeton, NJ

Steve Lubetkin | July 28, 2017

Constructed between 1966 and 1969, the property consists of eight buildings housing 28 one-bedroom, 92 two-bedroom, and 36 three-bedroom units with an on-site leasing and management office.

Newark Multifamily Sales Spurred by High-Profile Restorations

Steve Lubetkin | May 26, 2017

NEWARK, NJ—According to Gebroe-Hammer's David Jarvis, multifamily dominates Newark’s housing landscape, accounting for 81 percent of the city’s building stock.

Thought Leadership

Fannie Mae Updates Requirements for Green Building Financing Option

Tony Liou | May 24, 2017

Fannie Mae has made some revisions to its popular Green Financing program to improve the processing of green mortgage loans.  On Monday May 22nd,…

Middle-Market Digest

Middle Market Digest: The Northeast

Steve Lubetkin | May 23, 2017

Here is a roundup of smaller transactions and news from around the Northeast in the past week. Deal Tracker NEW YORK, NY—Savills Studley has arranged…

$40M Affordable Housing Rehab Complete at City Crossing in Jersey City 

Steve Lubetkin | May 23, 2017

JERSEY CITY, NJ—The top-to-bottom renovation effort at City Crossing, formerly Brunswick Estates, completely modernized the property’s 131 apartments, grounds and safety systems; created new community space; and, addressed substantial deferred maintenance needs, including damage from Hurricane Sandy and ADA compliance issues.

Freddie Mac Financing for Starwood’s REIT Buy

Paul Bubny | May 05, 2017

IRVINE, CA—The financing, which utilized Freddie Mac’s Green Advantage product, covered the bulk of the Milestone Apartments REIT portfolio, now under Starwood Capital Group ownership.

Situs Adds DC Advisory Firm

Paul Bubny | May 03, 2017

NEW YORK CITY and WASHINGTON, DC—The Collingwood Group’s senior management team has a deep bench in the residential and multifamily sectors, including former executives with FHA, HUD and the GSEs.

Event Coverage

MBA Pres: ‘Recap and Release’ No Solution for GSEs

Paul Bubny | May 01, 2017

NEW YORK CITY—Speaking Monday at the Mortgage Bankers Association’s National Secondary Market Conference, MBA president David H. Stevens touted the association’s latest proposal for housing finance reform.

MBA Gets into Specifics on GSE Reform

Paul Bubny | April 21, 2017

WASHINGTON, DC—The Mortgage Bankers Association’s new white paper “lays out a detailed end-state solution that will work for the residential and multifamily markets,” says Rodrigo Lopez, the association’s chairman.

Affordable Housing Specialist Joins W&D

Paul Bubny | April 17, 2017

BETHESDA, MD—Matt Naish developed an expertise in affordable housing policy and FHA multifamily products during his time with HUD.

More Renters Expect to Keep On Renting

Paul Bubny | April 11, 2017

MCLEAN, VA—That’s one of the conclusions to be drawn from Freddie Mac’s latest survey of apartment tenants. The GSE also expects multifamily loan volume to grow as much as 6% this year.

Matrix New World Provides Smart Engineering Solutions for NJ Affordable Housing

Steve Lubetkin | April 05, 2017

FLORHAM PARK, NJ—“Complying with New Jersey’s affordable housing regulations can be a convoluted process,” says Sean Savage, director of land development at Matrix. “Our strength is helping developers respond to community concerns and meeting the broad spectrum of state and municipal requirements and deadlines.”

Wells, JP Morgan Lead CRE Originators

Paul Bubny | March 23, 2017

WASHINGTON, DC—The annual Mortgage Bankers Association rankings of commercial/multifamily lenders comes on the heels of MBA data showing a 5.8% year-over-year increase in debt outstanding.

CapStack Branches Out Into Agency Platform

Paul Bubny | March 07, 2017

NEW YORK CITY—“It just made a lot of sense to become more fully integrated with the exit solution that a lot of our clients are ultimately seeking,” the specialty investment bank’s David Blatt tells GlobeSt.com.

Forest City Exits Affordable Sector with Sale to Rose Cos.

Paul Bubny | March 01, 2017

NEW YORK CITY—The acquisition more than doubles Jonathan Rose Cos.’ unit count to more than 15,000 apartments across 15 states and the District of Columbia.

Capital One Hires Affordable Housing Expert

Rayna Katz | February 22, 2017

NEW YORK CITY—The appointee joins the firm’s multifamily finance team from Prudential Mortgage Capital Co.

News

Greystone Brings on Fannie Mae Veteran

Rayna Katz | February 16, 2017

NEW YORK CITY—Following a 25-year career at the GSE, the appointee is charged with boosting Greystone's manufactured housing platform.

Middle-Market Digest

Middle Market Digest-The Midwest

Brian J. Rogal | February 03, 2017

CHICAGO—The latest deals, construction projects and personnel moves in the Midwest region.

MBA Seeks Re-Charter of GSEs

Paul Bubny | February 01, 2017

WASHINGTON, DC—The Mortgage Bankers Association outlined its vision of an end-state model for Fannie Mae and Freddie Mac in a paper issued on Tuesday.

SunTrust Subsidiary Arranges Freddie Mac Refi for Hoboken Waterfront MF

Steve Lubetkin | February 01, 2017

HOBOKEN, NJ—The North Constitution, built in 1999, is a 14-story, 138-unit “class A” multifamily property with ground floor retail space.