Fannie and Freddie Keep Lending in 2017

Borrowers still have lots of choices when securing permanent financing for apartment properties, particularly from Fannie Mae and Freddie Mac. “There is overall good liquidity in the mortgage markets,” says Mitchell Kiffe, senior managing director and co-head of national production with CBRE Capital Markets. “Both government-sponsored entities are off to a strong start to 2017. Right now they are very active.” Interest rates have paused after rising quickly in late 2016. And agency lenders have reported a very busy beginning to 2017. “Multifamily is still one of the best investments. There is an abundance of capital,” says Eric Tupler, senior managing director and co-head of the Denver offic

Condos in Downtown LA tower Ten50 are 60 percent sold

About 60 percent of the units in Ten50—the 25-story condo tower in Downtown LA’s South Park neighborhood with a drone landing pad—have been scooped up after sales launched last year, says Los Angeles Downtown News. The tower at the corner of 11th and Olive streets opened last month, and developer Trumark Urban expects to have all the units in Ten50 sold by the end of this year, managing director Arden Hearing told the News. “We’ve got people paying $4,000-6,000 in rent all around us,” Hearing told the News. Ten50 is “an amazing opportunity to get ownership” in Downtown, he said. It’s one of a small but growing crop of Downtown condos available in a neighborhood where most new units are avail

Increasing Property Value through Strategic Management

Investors’ interest in multifamily properties seems to be at an all-time high. However, a good location, nice unit condition, and the right amenities are no longer enough to keep occupancy rates up and a property’s value high. To increase a property’s value, owners must have two main goals: Meet or exceed budgeted rental income Meet or exceed budgeted net operating cash flow Before this process can begin, owners and investors need to set goals and guidelines for their buildings. This starts with a basic understanding of apartment management dynamics. The owner’s management skills directly impacts the bottom line. In the vast majority of markets around the country, the appreciation of a speci

WHY BUILD IN EMERGING NEIGHBORHOODS

The Arts District, South Park and Koreatown are among L.A.'s emerging neighborhoods. Many developers consider them ripe for development. From Carmel Partners senior vice president of development Neils Cotter's perspective, the entire City of L.A. is somewhat of an emerging market. There are a lot of new jobs and many types of jobs coming to town, he said. He said his firm looks for areas where there are interesting jobs and where mixed-use projects can thrive. "I think there's a huge future here with the redevelopment of existing buildings," Cotter (right) said at this week's Bisnow L.A. State of the Market event. Alliance Residential managing director Dustin Smith (center) said one of the a

3 Energy Efficient Roofing Solutions For Your Multifamily Property

Multifamily occupants nowadays are becoming more concerned about cutting down their house energy footprint and save on electricity bills and therefore look for energy-efficient units for rent. In an effort to attract as many prospective tenants as possible, rental property owners hire professional renovation and construction services provider to convert their rental property into energy-efficient housing units. As roofing system plays a key role in maintaining energy efficiency of a building, this post discusses top three solutions to make your existing roofing system more energy efficient. 1. Light-colored Shingles Dark roof can significantly increase the temperature of your multifamily or

WHY LEADERS SAY MEASURE S COULD HALT TODS, DEVASTATE CITY

Transit-oriented development is often offered as one solution to help decrease traffic, provide housing and improve the quality of life in Los Angeles, but Measure S, which would halt large developments, could put a freeze on planned TODs and create a worse situation than the one it is trying to fix. Some of the city's key players see Measure S, which would place a two-year moratorium on big developments, banning most spot zoning and other amendments, as being problematic when it comes to future development projects. Measure S is also known as the Neighborhood Integrity Initiative and goes before voters in March. Not enough housing units are being built in L.A., CityView CEO Sean Burton (sec

New renderings show off massive project that would transform the Arts District

Details continue to roll in about a massive mixed use project developed by SunCal that could transform the Arts District. Earlier today, Urbanize LA spotted a freshly released initial study that includes plenty of information about the project, called 6AM, as well as a couple new renderings. One of those renderings emphasizes the massive scale of the project’s two 58-story towers that would dwarf the neighborhood’s lower-slung residential complexes and industrial structures. The two towers are set to rise 732 and 710 feet, respectively—which would make them the seventh and 11th tallest buildings in Los Angeles if they were completed tomorrow. The taller tower would contain a mix of condos an

Nine Takeaways from Day One of the MBA CREF Conference

The mood on the show floor at the annual MBA Commercial Real Estate Finance/Multifamily Housing Convention & Expo,, which is taking place in San Diego this week, is an odd mixture of optimism and uncertainty. With ealthy property fundamentals and few concerns about overbuilding in the commercial real estate space, mortgage bankers and financial intermediaries feel a certain level of confidence in the market. But worries about the potential implications of proposed tax reform, the strength of the dollar, the possibility of trade wars and other unforeseen geopolitical events are making the near-term future harder to predict than it was in years past. Here are the takeaways from Monday’s panels

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Anie Mayelian  (818) 915-9118 
DRE #0077825

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