APARTMENT FINANCE TODAY

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From the Editor

Shabnam , Editor
smogharabi@hanleywood.com

At a recent invitation-only gathering of industry heavyweights, a novel new catchphrase emerged: In the current economic environment, “real estate professionals are going to become bankers, and bankers are going to become real estate professionals.” The lines have officially blurred as owners, developers, equity partners, and lenders try to navigate the arbitrage challenges of the next few months and, likely, years. The reality is that roles are changing because, in tough times, everyone has to assume additional responsibilities.

That’s happening here at the magazine as well. My name is Shabnam Mogharabi, and I’m the new editor of Apartment Finance Today. For the past few years, I have been the editor of AFT’s sister publication, Multifamily Executive. Now, I’ll be working to help you navigate the complicated, continuously changing dealmaking landscape.

I’m confident that this is just the beginning of my conversations with you. In fact, I want to hear more about what’s on your mind. Give me a call. Send me an e-mail. Or better yet, swing by the Apartment Finance Today Conference, which will be March 30 – April 1 at the Biltmore in Phoenix, Ariz., and tell me about the challenges you face in person. Get registered now. After all, how else will we stay ahead of the next industry catchphrase?

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WEB EXCLUSIVES

Economist Thornberg: This Too Shall Pass

Economist Christopher Thornberg, who foresaw the single-family housing meltdown, advises developers to take a deep breath and ignore trends.
FULL ARTICLE

CMBS Defaults Expected to Soar in 2009

Defaults on commercial mortgage-backed securities (CMBS) will triple this year to an all-time high, according to recent reports by Fitch Ratings and Standard and Poor's.
FULL ARTICLE

Enterprise: Cap-and-Trade Program Could Benefit Multifamily

When President Obama announced his plan to institute a carbon cap-and-trade system last month, Enterprise Community Partners stood up and took notice.
FULL ARTICLE

RCG Longview Closes $600 Million Debt Fund

New York-based RCG Longview recently closed a $602.5 million debt fund, with about half of it likely targeted at multifamily borrowers.
FULL ARTICLE

Cash-Out Refis Play Hard to Get

Fannie Mae and Freddie Mac are getting tough on cash-out refinancings for multifamily borrowers.
FULL ARTICLE

Enter the 2009 MFE AWARDS!

Do your multifamily projects demonstrate innovation in architecture, floor plan efficiency, interior design, landscaping? Do your initiatives include creative technology solutions to increase efficiency and profitability? Does an executive at your company exemplify dedication to providing exceptional multifamily housing, exemplary customer service and strong financial performance? Don’t miss the opportunity for your projects, leaders and initiatives to shine, enter the 2009 Multifamily Executive Awards – the leading awards honoring excellence in the multifamily housing industry. Enter online, www.mfeawards.com.

More industry news:

HUD's New Multifamily Czar Carol Galante to Focus on Rental Housing Financial Support, Sustainability Initiatives

Carol Galante, a recognizable and progressive thought leader within affordable and multifamily housing circles, was named deputy assistant secretary of multifamily housing at the U.S. Department of Housing and Urban Policy (HUD) Tuesday by President Barack Obama.
FULL ARTICLE

Credit Jolt: Colonial Announces $350 Million Facility

One of the most heavily levered companies in the apartment REIT sector got some relief earlier this week. Birmingham, Ala.-based Colonial Properties Trust announced that it has closed a $350 million secured credit facility originated by PNC ARCS, part of Pittsburgh-based PNC, for repurchase by Fannie Mae.
FULL ARTICLE

Mark-to-Market Rule Gains More Critics

Even as a U.S. House of Representatives financial services subcommittee on capital markets plans a hearing on mark-to-market accounting rules this Thursday, the Securities and Exchange Commission will likely not suspend the controversial fair market accounting rule that has forced banks to write down billions of dollars worth of secured real estate assets.
FULL ARTICLE

APARTMENT FINANCE TODAY

Events/Announcements

Attend the AFT Conference: Get tomorrow’s financing strategies today!

The Apartment Finance Today Conference, which will be held March 30 to April 1 at the Biltmore Hotel in Phoenix, Ariz., promises to deliver innovative financing strategies, forecasts, and networking opportunities. Make vital connections for putting your deals together, despite the tough economy. Register online at www.aptfinanceconf.com.

Check Out HousingCrisis.com

Hanley Wood's HousingCrisis.com is a unique source about the real estate and construction economies with news, data, and conversation about your smartest options. We’ll highlight exclusive articles, related stories, and linked resources from across our publishing network -- in real-time -- so that you’ll have information you need, a step ahead of the moment you need it. Go to HousingCrisis.com

HOUSING FINANCE
SOCIAL NETWORK

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

AHF Launches
Facebook Group
Affordable Housing Finance has launched a Facebook
group, allowing readers the opportunity to network and dialogue with one another about the industry's issues, while following the latest developments from the magazine.

Follow AHF on Twitter
Affordable Housing Finance readers can also follow breaking news and industry updates on twitter.com/AHFMag.

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 Editor Shabnam Mogharabi, please e-mail smogharabi@hanleywood.com

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

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