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Tag Archives: Multifamily

Fannie Mae Provides $33.8B to Multifamily Sector in 2012

Fannie Mae maintained its position as the largest source for multifamily financing in 2012 after providing $33.8 billion to the sector. The figure translates into 560,000 multifamily units and represents the third highest acquisition year in the company's history. Meanwhile, the Mortgage Bankers Association (MBA) reported commercial and multifamily lending volume increased by 49 percent on a quarterly and yearly basis in Q4 2012.

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Multifamily Sector to Remain Strong with a Few Hiccups in Some Markets

The recent housing crisis and the broader economic climate have led to a strong multifamily housing market nationwide. Marcus & Millichap's recently released National Apartment Report promises another year of expansion in the multifamily market as ""the alignment of powerful demographic and economic trends continues to fortify nationwide apartment performance."" The firm ranks 44 markets based on several forward-looking indicators. Nationally, the firm expects rents to increase between 4 and 5 percent this year as the national vacancy rate reaches 4.3 percent.

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Minnesota Bank Shuttered by Regulators

Multiple bank closures have become commonplace on Friday evenings, but last week, regulators shut the doors on just one institution-1st American State Bank of Minnesota. The bank operated two local branches in Hancock, with $16.3 million in deposits and $18.2 million in total assets. It was acquired by Community Development Bank, also in Minnesota.

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