By Michael Stoler 3/27 1:00pm

Mortgage Observer

indepth

Many Lenders Offering Low Rates for Multifamily

It seems like the perfect storm: investors are paying record prices to acquire residential rental apartments in metropolitan areas. And at the same time, financial institutions—especially regional and local commercial and savings banks—are offering the lowest rates for long-term financing for this asset class. Ramping up the competition, Fannie Mae, Freddie Mac, insurance companies, CMBS and conduits are all offering borrowers low rates, with terms we have not experienced in decades. Read More

By Michael Stoler 9/06/12 3:36pm

Mortgage Observer

indepth_web

Competition Hot in Multifamily

Record-low mortgage rates have helped to fuel the nation’s refinancing activity for residential homes. In July, the number of mortgage applications filed hit a three-year high. Freddie Mac also reported that 30-year, fixed-rate mortgages averaged 3.49 percent for the week ending July 26.

Likewise, attractive rates are fueling financing in the multifamily market, where financing for low-leveraged rental buildings has reached its lowest levels in decades. The result? Fierce competition among lenders looking to provide financing for the asset class, particularly in the Big Apple. Read More

By Carl Gaines 6/11/12 11:30am

Mortgage Beat

Joseph Orefice.

Investors Bank’s Joseph Orefice on Growth, Recent Financings

Investors Bank said recently that it had closed six real estate transactions in the first quarter of 2012—deals whose combined value hit nearly $100 million. Joseph Orefice, senior vice president and head of Commercial Real Estate Lending at the bank, told The Mortgage Observer that some of the deals were for repeat customers with a solid track record, a theme that has echoed throughout the lending community even as the market improves. Read More

By Daniel Geiger 3/29/12 6:18pm

Sales Beat

Bob Knakal

Williamsburg Development Trades For $25M

A partnership between real estate investors Joe Chetrit and David Bistricer closed on a $25 million acquisition of a Williamsburg development parcel today. The land, located along the neighborhood’s lucrative waterfront at 77 Commercial Street, can accommodate up to 270,000 square feet of development. It is likely that Mr. Chetrit and Mr. Bistricer will build residential space on the site, sources told The Commercial Observer. Read More