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The industry is at a breaking point—many have burned through their reserves and cannot continue to bear the financial burden of housing the nation's renters alone, says NAA's Bob Pinnegar.
The lease renewal agreement follows ATCO Properties & Management's recently completed, multi-million dollar capital improvement program at the office property.
The divided high court's decision could have dramatic and lasting effects on New York City's real estate development community, which commonly relies on the so-called bankruptcy remote special purpose entity loan structures to manage risk.
Multifamily market sentiments have risen from recent lows but lenders rank its performance higher than most other forms of commercial real estate despite persistent headwinds and ongoing uncertainty.
Surges were mainly concentrated in smaller markets, supporting previous data illustrating an exodus by many home buyers and renters from urban markets into the suburbs.