Pappas Realty Co... "Commercial Real Estate...Exclusively" in Northeast Ohio since 1957

Wednesday, April 09, 2008

Multifamily Deals Multiply

Fannie and Freddie Provide Plentiful, Affordable Capital

By JONATHAN KARPApril 9, 2008; Page C13

As the pace of commercial real-estate sales grinds almost to a halt amid financial-market instability and concerns about property values, deal activity is still brisk in one corner of the industry: multifamily housing.

Fueling the deals and buoying apartment values is the rare availability of financing, thanks to government-sponsored Fannie Mae and Freddie Mac. Prompted by their mandate to provide market liquidity and funding for affordable housing, but also driven by a fresh opportunity for profit, both firms are expanding in the multifamily market to fill a vacuum left by private lenders.

For full Wall Street Journal Article click on title/link to WSJ found above.


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