Don't mess with Texas, or its rebound in the multifamily market. Walker & Dunlop SVP and central regional manager Vic Clark says things look great. ?Since last summer, we've seen real stabilization. The DFW market is experiencing increases in rents and diminished concessions,? he says. With tightening vacancy rates, rental rates are increasing from 10% to 15% for recent renewals. Borrowers are also seeking conventional construction loans, but requirements are strict. (Wanted: strong personal liquidity and high net worth.) The result is that borrowers are creating partnerships to beef up company net worth and seal the deal. Vic also says Freddie and Fannie are really stepping up activity and CMBS is coming back, making greatcompetition for deals. We say any competition is good competition. Find more info on commercial RE finance firm Walker & Dunlop here. |
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