Multifamily housing is leading commercial real estate’s recovery with strong rent growth, rising values and high occupancies, which is enticing non-traditional funding sources—especially life insurance companies—to attempt to gain market share.
James Tramuto, the Houston, Texas-based executive vice president of Jones Lang LaSalle’s capital markets group, real estate investment banking, notes that major life insurance companies—including MetLife, Northwestern Mutual, Teachers, and Alliance—have been a big component of multifamily finance this year.
“A lot of these big life insurance companies began really competing, and competing hard, with Freddie Mac and Fannie Mae,” he says.
Read more...Nontraditional Lenders Gain Multifamily Market Share - National Real Estate Investor
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