The effects of the so-called “Great Recession” on commercial real estate are well-documented. Plunging land values and scarce financing led many potential real estate investors away from the market. Nonetheless, as a sector, multifamily fared better than most other types of commercial real estate. The continued availability of financing from Freddie Mac and Fannie Mae allowed some owners to refinance as their existing loans came due (thereby avoiding default) and provided a source of acquisition financing for the investors still looking for opportunities in the market. Nonetheless, not all apartment projects were able to avoid loan defaults and distressed buying opportunities exist in the multifamily market just as they do in other areas of commercial real estate. ...
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