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.

Commercial and multifamily developments and activities from MBA important to your business and our industry.

RentCafe, Santa Barbara, Calif., released a 2024 Apartment Construction Report, finding new apartment construction is poised to reach 518,108 by year-end.

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.

Zillow, Seattle, released a new report finding that a third of property managers are currently offering concessions to renters as rental price gains slow.

STR and Tourism Economics downgraded their hotel sector forecast for the rest of 2024.

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.