(Read more on the debt and equity markets andthe multifamilymarket.)
WASHINGTON, DC-Condo reversions, once rare endeavors in the DCmarket as little as one year ago, are now downright commonplace.Fortunately, financing to revert condo buildings back tomultifamily assets is still available, especially for close-in DCassets, according to one broker.
"There is still plenty of debt available," Ted Hermes, VP ofWalker & Dunlop tells GlobeSt.com. "Yes, the rates are a littlehigher and there are fewer lenders out there. And the capitalmarkets have almost shut down. But the agencies and portfoliolenders are still active." Hermes reports he is working on severalcondo reversions at the moment and is confident he can place thedebt.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
