APARTMENT FINANCE TODAY

Problems viewing this e-mail? Please cut and paste this address into your Web browser: http://www.housingfinance.com/newsletters/2009/aftu081809.html

Shabnam Mogharabi, Editor
smogharabi@hanleywood.com

Feel the pain. In 2009, $165 billion in commercial mortgages will mature and need to be refinanced or sold, according to a recent forecast by First American CoreLogic. And the South will be hardest hit: 60,893 commercial mortgages ($96 billion) will come due this year, nearly three times the number of properties as the next largest region (the West, with 20,549 mortgages valued at $35 billion). Interestingly, when it comes to multifamily, it’s the largest cities in nearly every region across the country that faces the greatest problems this year—the top five being Los Angeles, Dallas, Chicago, Portland, Ore., and Miami. As we close in on the fall, though, I can’t help but wonder what 2010 will bring. Will these numbers rise? Fall? Remain flat? And no matter what the course, how will the country navigate through from one tumultuous year into the next? Ultimately, it seems to me that the real estate industry cannot afford another year of fear, anxiety, and failure to launch. We need action—decisive, driven people executing on well-laid plans. Only then will the bad news seem more manageable.

Attract Prospects and Retain Residents with Yardi Portal™

Connect with prospects and residents to succeed in today's market. Yardi Portal brings traffic to your Web site and provides prospects with unit availability, photos, online applications and credit checks. Online rent payments enable same day deposits. Online service requests and lease renewals further boost operational efficiency — and resident satisfaction. Click here for more information.

WEB EXCLUSIVES

Fannie and Freddie's Affordable Housing Debt Grows Costly

As affordable housing developers get set to ramp up dormant projects, Fannie Mae’s and Freddie Mac's high rates on forward commitments are forcing many to look elsewhere for debt.
FULL ARTICLE

Public, Private Firms Turn to Floating-Rate Debt as a Hedge

Despite the recession, the multifamily industry is, in some ways, leading a charmed life.
FULL ARTICLE

S&P Throws Another Curve at the CMBS Industry

Every time Standard & Poor’s clarifies its approach to commercial mortgage-backed securities, the marketplace grows a little more confused.
FULL ARTICLE

Advertisement
Learn how Freddie Mac is here for the multifamily market. Ensuring that all sectors of the business – conventional, targeted affordable, seniors' housing, student housing, structured transactions and capital markets execution - can rely on a stable source of funding. Click here.

Marketing in the New Economy: On the Streets or On the Web?

Multifamily marketing teams take recessionary measures to adjust the blend of online and offline campaigns for new lease prospects.
FULL ARTICLE

AIMCO’s Dispositions Heat Up

AIMCO is continuing to sell. In last Friday’s conference call, the Denver-based REIT said it has $1.2 billion in dispositions either in negotiations or under contract to be sold and more than another billion in the market.
FULL ARTICLE

Kaplan Management Company is now accepting fee management assignments

Led by a group of seasoned professionals, Kaplan Management Company has more than 31 years of experience in property management.

To inquire about how Kaplan can exceed your expectations, contact Michael Kaplan or Geoff Simpson. (713) 977-5699
Kaplan@KapCorp.com KapCorp.com

Construction Employment Declines in 333 of 352 Metros

Few cities across the country have been spared the widespread downturn in construction employment over the past year: Employment throughout all construction sectors declined in 333 out of 352 metropolitan areas in June 2009 compared to June 2008, according to the Arlington, Va.-based Associated General Contractors of America’s (AGC) analysis of recently released Census Bureau data.
FULL ARTICLE

First Closing Completed in MMA Sale

The first closing in the sale of MMA Financial has been completed.
FULL ARTICLE

Amid massive dislocation in America's and the world's economy, development of communities got swept up in the vortex of frozen credit, gun-shy lenders, and a general stigma on real estate among investors and other sources of capital. At the 2009 Developer Conference, find out where opportunities will surface earliest, learn how to leverage design sustainability, energy and water conservation credits, and build a response to the tough challenges facing developers today. Register Now!

APARTMENT FINANCE TODAY

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.

Events/Announcements

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

Check our online calendar for upcoming events.

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

Subscribe to APARTMENT FINANCE TODAY Magazine.

Unsubscribe to APARTMENT FINANCE TODAY Update.

Advertise

Advertise in APARTMENT FINANCE TODAY Update.

Advertise in APARTMENT FINANCE TODAY Magazine.

Mailing Address: One Thomas Circle NW, Suite 600, Washington, DC 20005

APARTMENT FINANCE TODAY is part of the Hanley Wood network of Web sites:

Hanley Wood, LLC. Unauthorized reproduction prohibited.