REFI MADNESS

In the wave of refinancing short-term loans made at the end of the market bubble in 2006 and 2007, fully occupied properties are getting the bridge money available, says Glenn Gioseffi, a director at Marcus & Millichap Capital Corp. Glenn arranged for an $8.4M cash out refi for a 285K SF apartment building in Kent last week. Other trends he's noticing? Fannie Mae and Freddie Mac are amiable to refis for multifamily housing, while regional banks and the big life companies are lending to a lesser extent. "They're all interested in multifamily and single-tenant retail like Walgreens and some of the big grocery stores," Glenn tells us. What about smaller retail? "Not as much."

Continue reading this story with a free account

Log in or register
Related Topics: Millichap Capital Corp
Sign up for more articles like this
Subscribe to Bisnow's Seattle Newsletters
Related Stories

Texas Flips Blue, Putting Data Center Boom On Notice

Hynes Vows To Bring Property Tax Stability As New Cook County Assessor

Donalds Makes History With Win For Florida Governor, Voters OK Property Tax Amendment

The Geo Group To Reopen 2,329-Bed Immigration Facility In Texas

What's At Stake For CRE In Tuesday's U.S. Midterm

From Pandemic Darling To Cautionary Tale: Pickleball Clubs Face A Reckoning After Betting Big On Retail Space

Foundry Robotics Leaves San Francisco For New East Bay HQ

Tenant Rep Firm Expands To Philly, Hires Industry Veteran

Data Centers Lose The Top Spot, San Francisco Jumps 40 Places: 9 Takeaways From ULI's 2027 Outlook

How Pacific Northwest Multifamily Owners Are Using Sustainability To Strengthen Asset Performance

Cushman & Wakefield, NYC Added To Suit Alleging $250K Agency Lease Shakedown

Denver Public Schools' $11M Centennial Hall Purchase Marks Rare Land Sale For ULC