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Multifamily Properties Are Positioned for a Strong 2021 The rollout of a vaccine and the likelihood of more federal COVID-19 relief measures in the near term will help sustain the apartment sector. The multifamily sector weathered the storm in 2020, living up to its reputation as one of the most stable commercial real estate asset classes. The forecast for apartments in the new year is also bright. And even with where things sit today with the still raging pandemic and the terrifying scene that unfolded in the nation’s capital last week, observers point to the continued rollout of vaccines and the likelihood of new COVID-19 relief measures with the new administration and Democratic control of Congress as reasons for high hopes for the balance of 2021. ....
Capital Markets Remain More than Willing to Finance Multifamily Deals Even with Fannie and Freddie planning to scale back on multifamily loans, other lenders are ready to pick up market share. Investors are rushing to buy apartment properties with a lot of help from lenders willing to finance their deals. Freddie Mac and Fannie Mae lenders remain eager to lend money to investors buying properties at historically low interest rates. “There is an enormous amount of capital,” says John Sebree, senior vice president and national director of Marcus & Millichap s Multi Housing Division, working in the firm s Chicago office. “We are back to 20 offers [for apartment properties offered for sale]… That is similar to where we were a year ago.” ....