APARTMENT FINANCE TODAY

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From the Editor

Christine Serlin, Editor
cserlin@hanleywood.com

Weathering the Economic Storm
With Lehman Brothers filing for bankruptcy and Bank of America buying Merrill Lynch in a $50 billion deal earlier this week, the economy continues to falter. But even during these turbulent times, multifamily developers are finding ways to boost liquidity to fund development and boost revenue and slash expenses. Apartment Finance Today talked with several of the industry’s top chief financial officers for its cover story in the September
issue. These CFOs provide many useful strategies on how they are helping their companies navigate through a down market. Hopefully you can put some of their tips to use in your organizations as well to help you weather this current storm.

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WEB ONLY EXCLUSIVES

The Short and Long of the GSE Takeover

The long-term impact of the government’s takeover of Fannie Mae and Freddie Mac remains unclear, but some short-term advantages for multifamily borrowers have already become apparent.
FULL ARTICLE

Financial Institution Woes Shred Markets

The AFT Index was swept downstream with the rest of the stock market as the liquidity crisis in financial institutions continued to erode the multifamily housing sector.
FULL ARTICLE

Vacancies Up as Foreclosures Bash Economy

The percentage of vacant apartments increased nationwide to an average 6 percent in the second quarter. That’s up from 4.7 percent last year, and it’s the highest vacancies have been since 2004, according to market research firm M/PF YieldStar.
FULL ARTICLE

Hurricane Ike Worse than Rita

As rescue efforts continued Monday, apartment owners and officials in Texas were among those trying to get a grasp on the devastation left by Hurricane Ike.
FULL ARTICLE

ONLINE POLL

Are you less likely to use agency financing now that the federal government has placed Fannie Mae and Freddie Mac into conservatorship?

Yes or No

In 2008, multifamily players will have to focus on staying competitive, competent, and nimble. Whether focusing on design, operations, or management, industry executives must provide strong leadership and a clear vision for their employees and firms, all without compromising their ability to navigate a tough economy. That's asking a lot. That's why the 2008 Multifamily Executive Conference will offer the vital peer-to-peer education that will help you move your company and operations forward and into the future. Register today!

The Magazine

Setting A New Course

If every crisis is also an opportunity, then today’s turbulent economy is providing plenty of opportunities. As the debt and equity markets grow increasingly conservative, and construction financing gets more difficult to procure, multifamily developers are finding unique ways to boost liquidity to fund development. And as sales dip and rent growth slows, many multifamily owners are finding unique ways to boost revenue and slash expenses. In this section, the industry’s top chief financial officers, such as David Gardner of Home Properties, share the creative acts of balance sheet re-engineering and the revenueboosting techniques that help their companies navigate their way through a down market.
FULL ARTICLE

CAPITAL MARKETS: Spreads Erupt

The bulk of refinancing activity this year has been done through Fannie Mae and Freddie Mac, as the government- sponsored enterprises (GSEs) offered the best rates in town.
FULL ARTICLE

MORTGAGE LENDING: FHA Aligns With Tax Credits

Agency streamlines multifamily programs to attract LIHTC developers.
FULL ARTICLE

APARTMENT FINANCE TODAY

Events/Announcements

Apartment Finance Today Seeks Top Apartment Deals of ’08
Apartment Finance Today magazine will profile some of 2008’s most innovative and complex apartment transactions in its November/December issue. But before we do, we need your help.

Do you know of any deals that were particularly large, creative, or complex? Maybe a deal that you or your organization was involved with will make the cut.

Please send any nominations to Senior Editor Jerry Ascierto at jascierto@hanleywood.com by Tuesday, Sept. 30, 2008.

Check our online calendar for upcoming events.

HOUSING FINANCE BLOG

Read about deals, subsidies, gossip, taxes, and sneaky fine print in the world of rental real estate, from the editors and writers of APARTMENT FINANCE TODAY here.

Contact

To reach APARTMENT FINANCE TODAY Executive Editor Christine Serlin, please e-mail cserlin@hanleywood.com

To reach APARTMENT FINANCE TODAY online Web Producer Spencer Markey, e-mail smarkey@hanleywood.com

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