The changing face of multifamily development in Chicagoland

 

Developers in Chicagoland are responding to continued strong demand for multifamily housing and changing consumer expectations. The pandemic accelerated a trend that was already underway — a shift in consumer priorities from acquiring material things to embracing time, travel, and experiences. Long-term homeowners are taking advantage of a seller’s market for their homes, collecting the proceeds and moving into apartments that require little to no maintenance. Meanwhile, young people who can’t yet afford to purchase a home are renting apartments that provide abundant amenities. These changing dynamics are reflected in recent multifamily sector research.

According to CBRE’s Q1 2022 Apartment Fundamentals report, multifamily occupancy was at about 97% in Chicago. Between Q1 2021 and Q2 2022, vacancies dropped to 3.1% from 6.2%. The report goes further, saying “Total net absorption is forecasted to be a positive 9,027 units, lagging supply during the same period. By year-end 2023, the annualized vacancy rate is expected to be 2.8 percent, while rents are forecasted to grow, reaching $1,989.40 compared to current market rents of $1,760.67.”

For commercial real estate developers and investors, favorable forecasts like these are encouraging. While opportunities are plentiful, developers that understand what is trending from both a development perspective and a design and construction perspective stand to be more successful. Technology is Evolving The vast majority of renters want top-quality amenities, simplicity, and convenience. In addition to clubrooms, pools, fitness centers, and outdoor lounges, a growing number of renters expect “smart apartment” technology. Integrating advanced technology into multifamily projects has become a competitive advantage for developers.

Smart apartment systems offer residents fully-connected smart-home experiences controlled by an app on their smartphones. The first systems were introduced in the student housing sector, as college-age students are adept at using apps to control devices and their environment. Now the amenity is gaining traction with residents of market-rate apartments as well.

With smart apartment-managed Wi-Fi systems, residents download an app when they move in, receive a password, and within 10 minutes they can control locking and unlocking doors, the temperature of their apartment, appliances, outlets, and more – from anywhere inside or outside the building. So, instead of each apartment unit having its own network, there is one network throughout the entire building. There’s also a security component that benefits both residents and property managers. For accessing the building and unlocking certain doors, residents swipe their phones to gain access. Property managers can credential residents’ smartphones to access only certain areas of the building. For example, residents must be credentialed to access floors other than where their unit is located. This provides peace of mind to residents and reduces the risk for property managers. Residents can also authorize people outside the building to enter at certain times. For instance, the dog walker who comes every day between 10 a.m. and 11 a.m. can be credentialed to access the resident’s unit only during that timeframe. Everything is tracked, providing visibility to both the resident and the property manager.

These systems bring a whole new level of convenience and security but getting them set up can be a challenge for developers. Smart apartment platform providers or “integrators” that create the apps face a challenge coordinating the myriad of Wi-Fi programs and technologies used by manufacturers of appliances, outlets, and the like. Very few systems talk to each other, so integrators basically ride over the top of them and create one app to control everything.

At Opus, we are working with an integrator to create a smart apartment system for our Dash Downers Grove project, a seven-story, 167-unit multifamily building under construction in the Village of Downers Grove. These systems and capabilities are evolving very quickly, so integrators must be nimble.

As an industry, we are on the front end of this trend. For projects like Dash Downers Grove, the conveniences of smart-home systems for both residents and property managers will differentiate the property.

Certain Design Amenities are Gaining Traction The pandemic didn’t start the work-from-home trend, but it clearly accelerated it. Because a significant number of renters now work from home, multifamily designs are evolving. Many unit floorplans now have dedicated, semi-private spaces for desks and office equipment. In common areas, work-from-home suites are gaining popularity, providing residents with private space for conducting business. Also popular with residents is flexible seating space within common areas for bringing their laptops and working.

Also likely influenced by the pandemic, resident preference surveys are showing increased demand for private outdoor spaces within each unit, like balconies and terraces. Entertainment amenities like rooftop decks, clubrooms, and outdoor kitchens also remain popular, as well as recreational amenities like fitness centers, pools, and space for bike storage and repair.

ESG Requirements are Accelerating Another trend affecting multifamily developers is increasing ESG (environmental, social, and governance) requirements by capital partners. With regard to environmental concerns, it’s becoming more common that they want to see third-party certification of buildings. Investors, especially European investors, are increasingly focused on what capital partners are doing with regard to ESG. And it’s not green-washing – they want to see real results.

Chicago is an environmentally-forward community. The city has required sustainable features for many years, like a green roof if zoning as PUD (planned unit development). But stricter regulatory requirements in Europe will likely make their way to the U.S. The Task Force on Climate-related Financial Disclosures (TFCD) in the U.K., which is a new international standard for reporting on climate risks, will be mandatory for all fund managers in 2025. Three additional governments are considering adopting the policy: the European Union, New Zealand, and Canada. The Opus Dash Downers Grove project will seek both Fitwel certification and National Green Building Standard (NGBS) certification. Fitwel focuses on quality of life and location – for example, does the project reuse an existing site, does it optimize health within the building and community, and is it close to transit, parking, fresh air, and parks. NGBS is more technical and focused on the building, for example, does it exceed building code, and how efficient is the HVAC system, insulation, windows, and blinds? The increased cost for a building to achieve these certifications can vary, depending on design and construction. At Opus, we already consider environmental impacts as part of our design and construction process, and we are increasingly integrating these standards in our multifamily projects. Trends like smart apartment technology, design amenities, and ESG will continue to evolve. Resident awareness of smart apartments is increasing at a rapid rate, as consumers expect to manage their life via their smartphones. And while the financial sector is currently a driving force with ESG requirements, resident awareness will likely increase with time and become a differentiator for apartment properties.

---

Source: The changing face of multifamily development in Chicagoland

https://www.creconsult.net/market-trends/the-changing-face-of-multifamily-development-in-chicagoland/

July’s Multifamily Rent Increase Was Best in a Decade – Except for Last Year

 

RealPage cites a strong month, with pace moderating as expected.

Peak apartment rent growth – as well as the historically high-performance levels seen in 2021 – are by all accounts in the rearview mirror, according to data released this week by RealPage.

Effective asking rents increased by 0.8% from June to July, which represents about one-third of how they performed a year earlier. That moderation was as expected, RealPage said.

 

The spike in 2022 is nothing to sneeze at, though. It makes it the best performing July in the past decade, which shows just how impressive 2021 was for apartment operators, the company said.

Renewing Renters Paid 11% More in July

 

July 2022’s number “is a good encapsulation of the state of the apartment market: 2022 has been strong by comparison to any year other than 2021,” Jay Parsons of RealPage, said in a prepared statement.

“As we noted multiple times going into 2022, the historic numbers seen in 2021 are unlikely to be repeated for a long time to come. Year-over-year effective asking rent growth measured 12.2% in July, down from 13.8% in June.”

Replacement rents (actual, signed lease-over-lease trade-out for new leases) increased 17.2% in July, compared to 18.6% in June, RealPage reported.

 

Resident renewal rent rate increases of 11% in July were similar to what was achieved in June.

Renters in the lower-priced Class C apartment sector paid just 7.8% more than those in Class A and Class B apartments, which saw roughly a 12% increase.

Rising renter incomes continue to help support rising rents and keep rent-to-income ratios steady at around 23%. Household income on average rose 8% year-over-year.

 

---

Source: July’s Multifamily Rent Increase Was Best in a Decade – Except for Last Year

https://www.creconsult.net/market-trends/julys-multifamily-rent-increase-was-best-in-a-decade-except-for-last-year/

What the Recent Inflation Numbers Might Mean for Multifamily

 

While inflation seems to be moderating, don’t expect the Fed to let up.

Inflation numbers for July were a pleasant change from the recent pace, with prices flat from June. But as the National Apartment Association noted in its NAA Inflation Tracker: August 2022, things are more complex and the chances of the Fed stopping the upward march of interest rates is unlikely to happen immediately.

First the good news: the results were the best since May 2020. There are also other signs that inflation may be near contraction, including the Producer Price Index. According to the Bureau of Labor Statistics, the PPI fell by 0.5% in July, seasonally adjusted.

 

But here’s where things get complicated. “The index for final demand goods fell 1.8 percent in July, the largest decline since moving down 2.7 percent in April 2020,” said the BLS. “The July decrease can be traced to a 9.0-percent drop in prices for final demand energy. Conversely, the indexes for final demand foods and for final demand goods fewer foods and energy rose 1.0 percent and 0.2 percent, respectively.”

The line from producer prices to consumer isn’t necessarily straightforward, but as the NAA noted, “The breather in price hikes was due to energy prices, which fell 4.6% over the month. Food prices continued to climb, however, notching another increase in excess of 1.0%. Core CPI rose 0.3% over the month, slower than the prior 3 months, but disturbingly high for prices that are considered to be more “sticky.” The largest increases in core CPI were car insurance (1.3%), car maintenance and repair (1.1%), and rent (0.7%).

 

So, a drop in energy prices masked an increase elsewhere, which means that in one part of life, consumers will feel a benefit, but not in most.

Total shelter costs compose about a third of CPI. “Owners’ equivalent rent, which is the price owner-occupiers think they could attain if they rented their homes, increased 5.8% while rent of primary residence was up 6.3% year-over-year, another 36-year high,” the NAA said. And those numbers lag actual changes in house costs because the data isn’t collected as often as other parts of CPI. Rents may not yet have hit a peak.

That will push people to look for greater pay to keep up with the cost of living, adding to tensions over employment. The last two months have seen big jumps in hiring, which is a big indicator to the Federal Reserve that the economy hasn’t slowed down enough. It seems unlikely that the Fed will back off from additional interest rate increases, which means higher construction and repair costs in the multifamily industry.

---

Source: What the Recent Inflation Numbers Might Mean for Multifamily

https://www.creconsult.net/market-trends/what-the-recent-inflation-numbers-might-mean-for-multifamily/

Fully Occupied 23-Unit Multifamily Offering Kankakee IL

Fully Occupied 23-Unit Multifamily Offering Kankakee IL Listing Broker: Randolph Taylor 630.474.6441 | rtaylor@creconsult.net Price: $995,000 Cap Rate: 7.35% https://properties.expcommercial.com/1030907-sale https://www.creconsult.net/

Sacrificing space: Why are U.S. renters downsizing?

 

In today’s housing market, future homeowners must compromise to save for a down payment. One way to put aside money for a first home? Give up a little space.

In fact, RentCafe found that renters who dream of transitioning to homeownership could save an average of $3,735 per year by simply downsizing by just one bedroom — a sacrifice many renters are jumping on. Nearly 4,000 RentCafe website visitors revealed that 36% of renters were willing to use this method in order to afford their first home.

So where in the nation can renters save up the fastest for a down payment by surrendering one bedroom in their current rental? Well, Chicago secured the No. 4 spot on the Top 50 list, despite having some of the smallest apartments nationwide.

Not only is Chicago the third-largest city in the U.S., it’s also a hot spot for young people. Renters here could save $8,916 per year if able to adjust to one less bedroom, meaning they’d be able to afford a down payment for a starter home in just over two years. The median price of homes is much higher than the preceding three locations on RentCafe’s list, but the higher income earned by Chicagoans makes saving for a down payment almost as achievable as it is in Jackson, MS. Can you guess which city landed at No. 1 on RentCafe’s list? Hint: It’s also in the Midwest. Yep. Renters in Dayton, Ohio are the closest to ownership. The median price of starter homes, $57,652, combined with the yearly savings derived from downsizing a rental, $3,168, would make it possible for a renter to afford a down payment in a little over a year and a half, based on the report. And contrary to Chicago, Dayton is also one of the places with the most apartment space per person, which makes downsizing less of a challenge. Other Midwest locations to make the Top 20 on RentCafe’s list include Lansing, Michigan; Cleveland, Ohio; and Columbia, Missouri.

---

Source: Sacrificing space: Why are U.S. renters downsizing?

https://www.creconsult.net/market-trends/sacrificing-space-why-are-u-s-renters-downsizing/

Rent Growth Diverging Across Office and Multifamily

 

Analysts call the aberration a “great divergence.”

Rent growth across the office and multifamily sectors are no longer in lockstep, disrupting a lengthy period in which the sectors typically followed the same trend, according to a new analysis from Moody’s Analytics.

Last year marked the only time that rents for office and multifamily actually went in opposite directions, analysts say, calling the aberration a “great divergence.”

 

“Companies haven’t fully reopened offices, but households come back to cities anyway,” they say. “Further, in a rebuff of the historic link – it wasn’t just suburban apartment markets feeling the positive demand shock, dense urban areas bounced back, with many having apartment rent levels that have now fully rebounded.”

Office market performance in cities like New York, Tampa, Orange County, Charleston, and Greenville also trended below the US average, with asking rents ticking up 0.8% from 2021 to 2022, but multifamily rents in the same markets “skyrocketed.”  And in Minneapolis, St. Louis, and Columbus, all of which experienced office markets that were above average last year, the apartment market is performing far below the national average.

 

“If people choose where to live based on their office locations, this divergence should not be as evident,” the analysts say. Lifestyle must play a very critical role in this divergence, though the single-family market, zoning regulation, industry types, and other factors affect it as well.”

San Francisco, Jersey City, Manhattan, Philadelphia, and Boston saw the sharpest spikes in lease applications from Gen Z renters in the past year, with increases of up to 101%, according to a recent RentCafe survey. Zoomers also account for more than one-quarter of active renters in the past year in San Diego, Los Angeles, Manhattan, and Philadelphia.

But Moody’s also said it would be “premature” to say that remote work has no negative impact on urban apartment markets.

 

“It is likely that as households age into child rearing, the typical pull of suburban/exurban life could become stronger in an era of hybrid and fully remote office work,” they say. “But it is also true that a particular lifestyle only exists in dense urban areas.”

Ultimately, whether this shift is temporary or permanent remains to be seen: If the prevailing trend of modern life had been households following work, we may now be entering an era where work is following households,” the analysis states.

“At a minimum, the link between office and multifamily performance has dramatically weakened over the past year,” they write. “The US economy is based heavily in the production of knowledge, and the main resource in the process is skilled labor.  If firms still believe there is value in the office, even in a hybrid capacity, they will look to locate within striking distance of those workers.  The link may not be permanently broken after all, but instead, economic strength may be diversifying and shifting towards where people want to be. Time will tell how this dynamic between office and apartment property types plays out.”

---

Source: Rent Growth Diverging Across Office and Multifamily

https://www.creconsult.net/market-trends/rent-growth-diverging-across-office-and-multifamily/

Guide To Commercial Multifamily Real Estate Loans

 

Multifamily commercial real estate loans give investors capital that can be used for acquiring, repairing, or improving multifamily residential properties.

Loans are available for virtually all types of multifamily housing, and many loan programs have specific features that make them well-suited for certain types of housing.

If you need capital for a property, make sure you choose whichever multifamily loan is best suited for your property and the intended purpose.

Get a Free Commercial Real Estate Loan Quote

eXp Commercial Partner CommLoan - the Largest Commercial Real-Estate Lending Marketplace

[fluentform id="4"]

What is a Multifamily Property?

Multifamily properties are defined as any residential property with at least two units. Duplexes are the smallest, and there’s no limit to how large an apartment complex can be. Triplexes, quadplexes, bungalow courts, garden apartments, multistorey apartment buildings, townhouses, and high-rise condominiums and apartments are some examples of what multifamily properties can be.

In addition to being categorized by size and layout, multifamily properties can also be classified according to the demographic they serve. Standard housing, senior housing, student housing, assisted living, housing cooperatives, manufactured housing, and affordable/low-income housing are among the most common classifications used by lenders.

Mixed-use properties that combine residential units with commercial spaces can also qualify for select multifamily financing products.

Multifamily vs. Single Family

While multifamily properties technically are any properties that have two or more units, a somewhat different definition is commonly used when discussing multifamily loans.

Multifamily commercial real estate loans are generally limited to properties that have five or more units. Many of the aforementioned properties would qualify for multifamily financing, including most bungalow courts, apartments, high-rises, housing cooperatives, townhouses, and similar properties.

Duplexes, triplexes, and quadplexes might still need multifamily financing, but these properties normally don’t qualify for commercial multifamily loans. Instead, loans for properties that have 2-4 units can be obtained from personal real estate lenders. A lender or loan officer who primarily focuses on home mortgages should be able to assist with financing for these properties.

The most classic single-family property is the freestanding house. Owner-owned manufactured homes, townhouses, and condominiums are often also treated as single for the purposes of financing.

Almost all loans listed below are commercial real estate loans for properties with at least five units.

Multifamily Commercial Real Estate Loan Options

FHA Loans

The Federal Housing Administration (FHA) is a division of the Department of Housing and Urban Development (HUD). HUD is tasked with making housing affordable and equitable, and it partly does so by offering multifamily commercial real estate loans through the FHA.

FHA loans (also HUD loans) have some of the most generous terms for various affordable housing properties. In general, these loans are known for high allowed leverage rates, low-interest rates, and available long terms. Properties must meet strict criteria to qualify, but the borrower qualification requirements are lower than many other financing options.

There are several different FHA loan programs available, each of which has its own qualification requirements and benefits:

• FHA 223(f) Loans offer fixed-rate and long-term financing for existing multifamily properties. Properties must be at least 3 years old, without any significant renovations within the past 3 years. Investors may use the FHA 223(f) program as long-term primary financing on properties that will be owned for years.
• FHA 223(a)(7) Loans offer refinancing options for existing debt that multifamily properties have. Properties must currently be financed through another FHA program to qualify. Investors may use the FHA 223(a)(7) program to restructure loan terms and/or take advantage of lower interest rates.
• FHA 221(d)(4) Loans offer some of the most leveraged loan terms available for multifamily properties. Maximum terms include 90% LTV, 40-year amortization, and a 3-year interest-only introductory period. The interest-only introductory period and other terms make FHA 221(d)(4) program a good option for new multifamily construction.
• FHA 241(a) Loans offer supplemental financing for major improvements. These loans can be used to install energy-efficient infrastructure, safety features, or expand properties (in special cases).
• FHA 232/223(a)(7) Loans offer financing for senior and assisted living multifamily properties. The FHA 223 program is primarily used for primary financing, and the FHA 223(a)(7) program is for refinancing FHA 223 loans.
• FHA 242 Loans offer specialized financing for hospitals and healthcare facilities (other than assisted living facilities).

Fannie Mae Loans

Fannie Mae provides financing for low-income housing that might not otherwise qualify for commercial real estate financing.

Income requirements for Fannie Mae's commercial real estate loans are quite strict. Properties must meet one of the following criteria:

• Have 20% of units rented to families that earn less than 50% of the area median income (AMI)
• Have 40% of units rented to families that earn less than 60% of the AMI
• Have 20% of units rented through project-based housing assistance (i.e. Section 8)

Most properties that already participate in housing assistance payment (HAP), low-income housing tax credits (LITHC) or Section 8 can qualify.

For qualifying properties, Fannie Mae’s loan terms are competitive with what other lenders currently offer. Fannie Mae’s terms are especially attractive if traditional financing is unavailable, or difficult to secure.

Freddie Mac Loans

Freddie Mac underwrites real estate loans for both single-unit and multi-unit residential properties. Commercial financing for multifamily properties requires at least five units.

For multifamily properties with at least five units, Freddie Mac offers several different loan programs that afford flexibility. The agency’s programs include:

• Freddie Mac Fixed-Rate Loans offer flexible primary loan financing. The loans are available for both standard and affordable housing, and the balance, term, and leverage allowances have relatively wide ranges within which they can be adjusted. Investors may use Freddie Mac Fixed-Rate Financing as a primary mortgage on properties they intend to hold.
• Freddie Mac Floating-Rate Loans offer similarly flexible primary loan financing, but with a variable interest rate rather than a fixed interest rate. Most of these loans have terms of 10 years or less because of the variable rate, whereas fixed-rate loans sometimes go as long as 30 years. Investors may use Freddie Mac Floating-Rate Financing as a primary mortgage when interest rates are low, or for properties that will be held for a few years but not longer.
• Freddie Mac Fixed-to-Floating Loans combine a short-term variable interest rate with a longer-term fixed one, while still maintaining fairly flexible terms. These loans usually have a 9-year term (2 variable /7 fixed) but are otherwise fairly flexible. Investors might use Freddie Mac Fixed-to-Floating Financing when interest rates are low, or if they want to have more capital available for construction or rehab.
• Freddie Mac Student Housing Loans offer specialized financing for medium and large student housing apartments or townhouses.
• Freddie Mac Senior Housing Loans offer specialized financing for independent living, skilled nursing, assisted living, age-in-place, and memory care facilities.
• Freddie Mac Manufactured Housing Loans offer specialized financing for medium and large mobile home parks, or other manufactured housing communities.
• Freddie Mac Green Advantage Loans offer specialized financing for energy-efficient improvements. Investors must demonstrate that an improvement will result in a direct and substantial green improvement, and they must also commit to reducing water usage by 25%. Freddie Mac Green Advantage Financing is acquired in addition to a primary loan, and the program allows for a 5% higher LTV.
• Freddie Mac Supplemental Loans offer financing for unexpected expenses, such as major improvements or repairs.
• Freddie Mac Small Balance Loans are available for smaller multi-unit properties, including duplexes, triplexes, and quadplexes.

CMBS Loans

Commercial mortgage-backed securities (CMBS) loans are resold as an investment. Investors use them for fixed-rate returns that have low downside risk.

CMBS loans are among the most common non-government loans for commercial real estate, as they have more lenient requirements than some other private loan programs. They may be used for multifamily properties that can’t be financed via Fannie Mae or Freddie Mac, and commercial, industrial, and mixed-use properties also qualify. Loan amounts can range from as little as $1 million to as much as $1 billion.

Bridge Loans

Bridge loans provide short-term financing that “bridges” a gap. The loans are frequently used when acquiring properties or completing renovations, and almost all property types can be financed.

Most ridge loans have terms of 3-6 months. Underwriting may consider as-is value, as-stabilized value, or value-add plans. Revenues tend to be less important for these loans, as the loans are designed for purposes other than long-term financing. Buildings might not even be occupied for the entire duration of a bridge loan.

Investors may use bridge loans to finance acquisitions and renovations, or they might be used for immediate short-term flips. The latter is a somewhat uncommon use, though, because the flip must be completed within 6 months. Bridge loans have to be refinanced with another loan program whenever a property is held for longer than the loan term.

Conventional Loans

Conventional loans are a multifamily financing option if government-backed and CMBS loans aren’t available. These loans aren’t a suitable alternative for bridge loans, although banks directly underwrite both bridge and conventional loans.

Because banks directly underwrite conventional commercial real estate loans, banks themselves can determine what the lending requirements and loan terms are. Lending requirements aren’t necessarily any more relaxed than government-backed programs, and they can be slightly stricter because there isn’t a government guarantee.

The flexible terms make these loans available for virtually all multifamily properties, however, including distressed ones that might not be financed any other way.

Specific requirements and features depend on what a lender offers, and some lenders have multiple conventional financing options.

How to Get a Multifamily Loan

Financing a multifamily investment property requires evaluating all available programs, including both their eligibility requirements and loan features. Which multifamily commercial real estate loan program is best for a particular property depends on the property details, borrower qualifications, loan eligibility requirements, intended use of funds, and other details.

You can sort through all available loan options manually, or you can do so with an online multifamily loan tool.

Manually Find Multifamily Commercial Loans

While you can sort through loan options yourself, doing so is time-intensive. Only investors who are already familiar with multifamily financing tend to go this route. For instance, you might manually check loans if you already have a lender and loan program you want to use.

In rare cases, manual loan comparison might be necessary for multifamily properties with highly unique considerations.

Using an Online Loan Comparison Tool

For a more streamlined loan comparison process, use the CommLoan commercial loan finder. Simply follow the guided process, and the tool will take you through the complete process of getting quotes. At the end of the process, you’ll receive several loan quotes that can be compared. Check their eligibility requirements and terms, and apply for whichever one best suits your property and purpose.

Once you’ve chosen a quote, a lender will guide you through the remainder of the loan application process. They can help you not only apply to their institution but also apply for any government program that you’re using.

Prepare for Your Loan Application

If you haven’t already compiled these documents and figures, it’ll be helpful to know your property’s basic details, current value, expected value, building costs (if new construction or renovation), occupancy rates, and other relevant details. Additional details may be needed for specific government programs.

Lenders will also likely ask for information about your multifamily real estate investing activity. They may want to know your portfolio’s value, total outstanding loans, property revenues and expenses, ownership structure, and some other information. Your application will be considered based on the property and your current position.

Get Quotes for Multifamily Commercial Real Estate Loans

If you have an upcoming multifamily property acquisition, improvement, renovation, repair, or debt restructuring, begin the process of comparing loan options today. Some loan programs (especially government-backed ones) have longer processing time frames, so financing isn’t something you should delay. Get quotes now for multifamily commercial real estate loans, and ensure that you have enough time to obtain the best possible financing for your property.

Get a Free Commercial Real Estate Loan Quote

Fill out the form below for expert assistance from our team of Loan Consultants.

eXp Commercial Partner CommLoan - the Largest Commercial Real-Estate Lending Marketplace

[fluentform id="4"]

 

By submitting this form, you are confirming you are an adult 18 years or older and you agree to share your personal information with eXp Commercial and eXp Commercial partner CommLoan to use for this business request and to contact you to discuss mortgage loan products and rate options at the email address and the phone number provided including via text, automated or prerecorded means. You also agree to subscribe to stay connected to the latest updates by email and telephone.

 

 

https://www.creconsult.net/market-trends/guide-to-commercial-multifamily-real-estate-loans/