Multifamily Debt: To Float Or Not To Float
Despite their recent popularity, Greystone managing director Jef Elm (here with Milestone CFO Ryan Newberry) doesn't recommend adjustable interest rates. And with nearly every economist on the planet predicting an interest hike from the Fed in December, Hunt Mortgage Group managing director Vic Clark says his floating clients are getting worried.
Milestone frames the interest rate question differently. Ryan asks "is this a long-term hold or an execution?" before deciding to push for a fixed interest rate. When buying properties for the long term, Milestone doesn't float.
Here are panel moderator IPA director Drew Kile, Berkadia senior managing director John Koeijmans, Key Bank SVP Charlie Williams, Jef, Vic, Prudential principal Anthony Tarter and Ryan at Bisnow's 2016 Dallas Multifamily Surge last week.