Commercial and multifamily developments and activities from MBA important to your business and our industry.
Category: News and Trends
MBA: Multifamily Lending Declined 49% to $246 Billion in 2023
In 2023, 2,520 different multifamily lenders provided a total of $246.2 billion in new mortgages for apartment buildings with five or more units, according to the Mortgage Bankers Association’s annual report of the multifamily lending market.
CMF Quote of the Week: Aug. 15, 2024
“Multifamily lending fell by roughly half in 2023 as sales transactions declined and far fewer property owners sought to refinance their loans.”
–Jamie Woodwell, MBA’s Head of Commercial Real Estate Research
Call for Speakers: MBA’s Commercial/Multifamily Finance Convention & Expo–Due Sept. 6
Speaker and topic proposals for breakout sessions are now being accepted for MBA’s Commercial/Multifamily Finance Convention & Expo (CREF25), taking place Feb. 9-12, 2025 at the Manchester Grand Hyatt in San Diego.
RentCafe: 2024 on Track to Set Apartment Construction Record
RentCafe, Santa Barbara, Calif., released a 2024 Apartment Construction Report, finding new apartment construction is poised to reach 518,108 by year-end.
Zillow: Property Managers Offering Concessions as Rental Market Cools
Zillow, Seattle, released a new report finding that a third of property managers are currently offering concessions to renters as rental price gains slow.
NAHB: Multifamily Developer Confidence Down in Q2
The National Association of Home Builders, Washington, released its Multifamily Market Survey, finding that overall, multifamily developer confidence is down in the second quarter, although opinions about occupancy remain more positive.
STR, Tourism Economics Hotel Forecast Dips
STR and Tourism Economics downgraded their hotel sector forecast for the rest of 2024.
Dealmaker: JLL Secures $50M Refinancing for Wilmington, N.C. Multifamily
JLL Capital Markets, Chicago, secured a $50 million bridge loan that refinanced Harrington Square apartments, a Class A mixed-use community in Leland, N.C. near Wilmington.
CREF Policy Update: HUD Publishes Proposed Rule on Multifamily Loan Disbursements
Commercial and multifamily developments and activities from MBA important to your business and our industry.