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At RealShare Apartments, the big players in multifamily say they are sitting on the sidelines for some deals this year and won't get caught in a bidding war.
Lenders are beginning to lower the maximum LTV and increase DSCR, keeping rental-rates flat and allowing landlords to reserve for tenant improvements in case a property needs to be repositioned during the term of the loan, Money360's Gary Bechtel tells GlobeSt.com.
“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.
Kennedy Wilson chairman William J. McMorrow says his company is moving toward “a simplified corporate structure” with more recurring income from stable property cash flows and greater upside potential from value-enhancing initiatives worldwide.