Lenders Continue to be Optimistic About Multifamily Sector
The multifamily sector has remained relatively stable throughout the pandemic. Rent payments continue to remain slightly below 2019 levels but have shown signs of optimism for both investors and lenders. Fannie, Freddie, and HUD provided stability for both multifamily investors and owners throughout pandemic and economic downturn as alternative lenders began to shy away from new deals. Pat Jackson, CEO and Founder of Sabal Capital partners, shared that local buyers are becoming more active in the market and shifting attention to Class B suburban garden-style apartments and workforce housing properties. He notes,“With interest rates still at historical lows, we expect a flurry of deals before year-end. Pent-up demand, a degree of cap rate decompression, and a sense of urgency to take advantage of the current rate environment will drive volume higher.” At EM Capital, we have and will continue to focus our investments on garden style apartments and workforce housing properties. We are confident in our current market positioning and look forward to growing our portfolio.
Source: Multifamily Executive