Multifamily lending is the still dominated by Fannie Mae and Freddie Mac, but other lenders are increasingly important in the space, according to a recent report by JLL. The GSEs posted a slightly smaller market share in 2014 compared with the previous year, according to Faron Thompson, leader of JLL’s multifamily debt financing platform. “Other lenders are becoming competitive, but the agencies will maintain their edge with the introduction of new products including a small balance loan initiative, manufactured housing program, tax-exempt loans and value-add products,” he said.
All together there was about $55 billion in lending for multifamily projects and acquisitions in 2014, and JLL expects this year’s total to be at least that much, if not more. According to the company’s latest research, the investment community remains enamored with the sector, leading lenders to duke it out to secure debt yields.
Read more...Competition to Finance Multifamily Will be Keener than Ever in ’15 | Multi-Housing News Online
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