Despite rising interest rates and the nagging anxiety that developers are already building too many apartments in some markets, banks remain active lenders for multifamily construction projects.
“There is certainly no shortage of capital,” says Danny Kaufman, managing director in the Chicago office of HFF.
Apartment developers are paying more interest on their construction loans—but that isn’t keeping developers from planning and financing new projects.
Read more...Despite Fears of Overbuilding, Lenders Remain Willing to Fund Multifamily Development via NREI
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