Appetite soars for affordable housing loansAppetite soars for affordable housing loanshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=165782017-05-17T05:00:00Z2017-05-17T21:00:00Z

​NORTH TEXAS – Population and job growth don’t appear to be slowing down, and when factoring in Fannie Mae and Freddie Mac’s appetite to provide loans on affordable housing, a perfect sellers’ storm is created.

Continued demand by investors for quality workforce housing in North Texas, along with the opportunity for new ownership to enhance value in a supportive market are the impetuses for five multifamily properties to recently change hands.

The properties have a total of 705 units and were sold for $45.625 million.

The properties include: 

Cleburne: Northridge Court with 85 units;

Fort Worth: La Jolla Terrace with 340 units, 8801 Randol Mill Rd.;

Garland: Castle Glen with 48 units;

Irving: West Wind with 160 units; and

Nacogdoches: Social House with 72 units.

“As more new Class A units are delivered and absorbed at significantly higher rental rates than in the Class B and C space, investors have become increasingly confident in the value-add narrative and the ability to improve rents on older assets,” says Marcus & Millichap with Nick Fluellen senior managing director investments​.

Dallas-Fort Worth-Arlington

​Also, ​check out DFW Multifamily Research for quarterly (sometimes monthly) data.

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