The latest round of federal pandemic relief includes several provisions that could provide a needed boost to multifamily owners and renters, but it remains to be seen if the array of tools will be enough to offset losses or reverse the creeping trends of rising vacancies and falling rents. This week, Congress passed a $900 billion stimulus bill that will include a $25 billion Emergency Rental Assistance fund, 90 percent of which will be used to settle rental and utility arrears.
Press releases & articles - December 2020
Investors are rushing to buy apartment properties—with a lot of help from lenders willing to finance their deals.
Freddie Mac and Fannie Mae lenders remain eager to lend money to investors buying properties—at historically low interest rates.
“There is an enormous amount of capital,” says John Sebree, senior vice president and national director of Marcus & Millichap’s Multi Housing Division, working in the firm’s Chicago office. “We are back to 20 offers [for apartment properties offered for sale]… That is similar to where we were a year ago.”
BMO Partners with Avanath Capital Management to help create wealth in black communities in the U.S. “Affordable housing creates the conditions for building Black wealth in this country,” says Daryl Carter, Founder, Chairman and CEO at Avanath Capital Management. “When we invest in a community – in all different dimensions – the community gets stronger.”
Avanath Capital Management has announced the acquisition of a senior affordable housing community located in Sterling, Virginia, and a historic affordable family community in San Jose, California, comprising 209 units in total. The properties were purchased for $44.65 million. The acquisitions represent the firm’s continued expansion into new markets as well as its ability to realize economies of scale in markets where it currently owns assets, according to John Williams, president and chief investment officer of Avanath Capital Management, a private real estate firm that invests in affordable and workforce housing properties throughout the U.S.