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Bridge, equity, and mezzanine capital have grown more available this year, a trend which should only continue in 2012.
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As permanent loan rates continue to rise, mezzanine financing providers see a rising need for their product this year. And while demand for Fannie Mae and Freddie Mac's mezz programs has been light, one large mezz provider has opened a conduit business line to drive more production.
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The bridge loan market is starting to heat up, as providers see more opportunity in lending to transitional assets and distress acquisitions.
Following on the heels of a similar announcement from Freddie Mac, Fannie Mae has re-engaged its DUS Plus and CI Mezz-Mod Rehab programs, offering borrowers up to 80 percent leverage.
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Freddie Mac has rolled out a mezzanine arrangement aimed at plugging the gaps in the capital stack of overleveraged multifamily borrowers.
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The mezzanine financing market is heating up in the first quarter of 2010, with all-in rates dropping and more lenders re-emerging from the shadows.
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Sometimes too much of a good thing can be, well, too much. "This is as difficult an investment climate as I've ever seen," says David Schwartz, managing member of real estate investment firm Waterton Associates in Chicago.
When GE Commercial Real Estate and Greystar Real Estate Partners announced a new joint venture in June targeting $500 million in multifamily acquisitions and developments nationwide, it was the culmination of months of work for the two firms. Of course, the lawyers had worked hard to ensure the two...
Public-private partnerships are fueling a multibillion-dollar affordable housing renaissance in Philadelphia. The initiative, led by the Philadelphia Housing Authority, is restoring declining neighborhoods and spurring private development in areas where few builders saw opportunity before.
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At first glance, Archstone-Smith's purchase of Oak Creek Apartments in Agoura Hills, Calif., was just another $99.6 million deal. Sure it was a lot of money, but the 24-building, 336-unit luxury multifamily community seemed a clear winner. Agoura Hills' median income of $85,000 and median age of 32...
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