Multifamily Sector 'Poised for Solid Growth'

Published on: May 24, 2011

Michael Waddell, The Daily News

Rick Wood, executive vice president of the commercial and multifamily division at Financial Federal, has witnessed increased interest from investors for the past 18 months following two years of very little activity in 2008 and 2009.

“Starting in early 2010, we have seen more multifamily sales, and there has been some momentum in the marketplace,” he said. “However, it appears many of the sales transactions are either on the lower end of the spectrum with Class C properties or at the other end of the spectrum with the Class A-plus properties.

“As we sit here in mid-2011, financing is very much available for acquisitions up to 80 percent of the purchase price, with interest rates below 5.5 percent.”