Monthly Multifamily Financing Update

MONTICELLOAM, LLC

Published Nov 25, 2024

Welcome to November's edition of the MONTICELLOAM, LLC Multifamily Financing Update! In this edition, we spotlight a transaction in El Monte, CA, share deal summaries, recap a real estate event, and highlight the latest news in multifamily.

Multifamily Spotlight Transaction

MonticelloAM closed a $64,000,000 floating-rate senior bridge loan for a 208-unit multifamily community in El Monte, CA. Proceeds from the bridge loan are being used by the sponsor, to refinance the existing construction loan.

The financing was originated by MonticelloAM Managing Director Chris Hetzel.

Read the full article here.

Recent Transactions

Loan Amount: $21,500,000

Location: Pasadena, TX

Description: The purpose of the bridge loan is to acquire ownership of the Property, complete renovations to both unit interiors and exterior amenities, and ultimately exit the loan through either a refinance, or through a sale.

Loan Amount: $87,000,000

Location: Atlanta, GA

Description: The purpose of the bridge loan is to refinance the current outstanding debt and enhance operations in preparation for a sale or permanent financing.

For the latest MonticelloAM news and transactions visit our website.

Recapping the FSU Real Estate TRENDS Conference

The MonticelloAM team had the opportunity to connect with industry experts, including hosting an opening day evening reception, at the FSU Real Estate TRENDS Conference earlier this month. Hear from attendees, JB Bowers and Emily LaCour, as they share their insights from the conference.:

"With this being my 13th straight year attending the FSU Trends Conference, it remains to be a premier event to build relationships with groups around the country, engage in conversations from some incredibly smart speakers about today’s real estate market conditions, and to see long-time friends. This year, there was certainly a refreshing optimism as we close out 2024 and head into 2025," remarks JB Bowers .

"Returning to the FSU Trends Conference for the first time since graduating was an incredible experience. I thoroughly enjoyed listening to industry leaders share their insights on the real estate market, reconnecting with old friends, and forging new relationships. I'm immensely proud of how the FSU Real Estate Program continues to equip students for real-world success," added Emily LaCour .

Multifamily News and Insights

Rising Optimism Towards Multifamily | Altus Group In the Altus Group's Q3 2024 CRE Industry Conditions and Sentiment Survey, 69% of the respondents predict that Multifamily will be the best performing sector in the next 12 months. Learn More

Rise in Q3 Delinquency Rates for Freddie Mac and Fannie Mae | GlobeSt Freddie Mac and Fannie Mae saw multifamily delinquency rates slightly increase in Q3. Despite the uptick, Freddie Mac and Fannie Mae reported net income of $3.1B and $4.0B, respectively. Learn More

Apartment Demand Reaches Highest Since 2021 | WSJ Apartment supply and demand has reached an inflection point as vacancy rate stopped increasing for the first time since 2021. With high demand, a strong economy, and sustained housing prices, rents can be expected to rise as a result. Learn More