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Volume 4 - Number 8 | April 25, 2006
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TOP STORY: Fannie Mae Sets Record $325M Affordable Housing Deal
By Sule Aygoren Carranza
Fannie Mae has provided its largest ever single-asset loan acquisition in the form of a $325-million financing package to the 140-building Fresh Meadows apartment complex. An unnamed borrower took out the debt to refinance the 3,285-unit, self-contained community, located in the borough of Queens here.
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DATA POINTS: Construction Starts Up; Multifamily Loses Ground
By Sule Aygoren Carranza
Unseasonably mild weather across much of the US resulted in an increase in multifamily construction last month. Apartment unit starts rose 22% over February’s figures and were 34% higher than the prior year to 334,000 units, on a seasonally adjusted basis, according to a Bank of America report.
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Metro DC Still Top Apartment Market in US, Says Delta Associates
By Sule Aygoren Carranza
The Washington metro area is still the top market in the country when it comes to multifamily, according to Delta Associates’ first quarter 2006 report on the region. The report cites metro DC's booming local job market, transient work force, strong condo market, the area’s high barriers to entry and the high cost of homeownership that has kept some would-be homebuyers in the renter pool.
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