http://www.rejournals.com/2010/08/01/multi-family-market-remains-top-performer-in-midwest/

Ed Padilla didn’t hesitate to say the strongest commercial market today continues to be multifamily!

Read more here:

http://multifamilyexecutive.com/land-acquisition/a-dirty-shame.aspx?rssLink=A+Dirty+Shame

Read more here:

http://nreionline.com/news/apartments_stage_comeback_0623/

According to the latest survey of 169 markets across the U.S. by researcher Reis, the national apartment vacancy rate peaked at a record 8% in the fourth quarter of 2009 and remained unchanged in the first quarter of 2010. Asking rents increased by a scant 0.1% in the first quarter, but that was the first gain since the third quarter of 2008.

With Minneapolis Mayor R.T. Ryback and city council members on hand, Village Green Cos. CEO and chairman Jonathan Holtzman joined other members of a development team to break ground late last month on Mill District City Apartments, a 175-unit, mixed-use, market-rate rental community targeted for completion and lease up in early 2011. The $33 million dollar project will follow the National Association of Home Builders (NAHB) National Green Building Standard, will feature a 3,500 square foot specialty market anchoring ground-floor retail , and is within walking distance of downtown cultural amenities.

Read the complete article here:

http://multifamilyexecutive.com/development/multifamily-developers-resume-construction.aspx

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The article goes on to talk about “weak demand” and the lower employment and jobs. Fortunately we in the Midwest don’t see these problems like the major metropolitan areas around the country. Yes we lose jobs and have struggles but people in the Midwest pay their rent for the most part!

The article goes on to cover “sacrificing rent for occupancy” and I agree we see owners offering incentives to attract new tenants.

In summary multifamily investment real estate still tops our list for the best place to invest your money. Sure there are risks and challenges but what investment doesn’t?

To read the full article click here:

http://nreionline.com/globalrealestate/sept09_article1.html

See the attached summary package and contact us for more details or questions.

Willowbrook Package – Aug 2009 summary

Here is an interesting article from National Real Estate Investor magazine:

Commercial/Multifamily Mortgage Originations Plunge 80% from Fourth Quarter 2007

By Denise Kalette

A new report from the Mortgage Bankers Association (MBA) shows a dramatic drop in commercial and multifamily mortgage loan originations in the fourth quarter of 2008. Originations fell 80% from the same period of 2007, a decline noted across all property types and investor groups.
"Commercial and multifamily mortgage lending slowed to a trickle in the fourth quarter," said Jamie Woodwell, vice president of commercial real estate research at MBA, in a statement. "Originations for all of 2008 were down approximately 60% from 2007 levels. Between the worsening economy and the continued credit crunch, lenders are extremely cautious about lending and borrowers are likely to hold onto the assets and the loans they already have."

The momentum to ban smoking at multifamily properties is growing, with more cites and counties passing legislation that prohibits or discourages lighting up in units, common areas, or both.

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As banks and other lenders await the shake-out from an economic stimulus package, credit is tight, and many potential first-time homebuyers are still on the sidelines, continuing to rent apartments. As a result, the multifamily market is maintaining resiliency. George Ratiu, Research Economist, gives us an overview of the multifamily sector.
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