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In this Issue
 Opportunities in
Seniors Housing
Arbor and RealShare
Present Roundtable Discussion in Dallas
Apartments Stabile, Financing a
Challenge: NMHC Survey
Remodeling Activity Remains Steady in Q1
Opportunities in Seniors Housing
By
Jay Porterfield
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Jay Porterfield
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Over the next 40 years or so, the percentage of
the U.S.
population age 55 or older is projected to increase from roughly
25% to 31.8%, according to Census Bureau numbers. The actual number
of people over 55 is projected to increase by 67 million people from
2000 to 2050. Many savvy owners and developers are taking action
now to benefit from this growing market segment.
While seniors housing can be defined in many different ways,
for our purposes, it is multifamily rental housing for people age
55 or older that includes some level of services. Those services
can range from assistance with Activities of Daily Living
("ADL"), such as meals or housekeeping, all the way up to
24-hour medical care. It may include Independent Living, Assisted
Living, Alzheimer's Care, Skilled Nursing or some combination of
all four. Seniors housing does not include market-rate apartments
with age restrictions, but no services provided. Those properties
are simply treated as conventional multifamily.
There are some outstanding lending programs for
seniors housing through both Fannie Mae and FHA.
Click
to read more
Jay Porterfield
is a Director in Arbor's full-service Plano, TX office. He can be
reached at 972-516-3824 or at jporterfield@arbor.com
Arbor and Realshare
Present Roundtable Discussion in Dallas
Join Arbor and the RealShare
Conference Series at an exclusive, complimentary breakfast
roundtable discussion, Navigate
the Capital Markets Storm with Agency Lending on June
10 at the Westin Galleria, Dallas from 7:30 AM - 11 AM.
FHA and Fannie Mae can represent a lifeline to
multifamily owners, investors and developers in the throes of
today's credit crunch and liquidity crisis. Learn about emerging
commercial real estate trends in the Dallas-Fort Worth
area and how you can capitalize on them in this challenging
economy.
The morning event, which begins with networking
and breakfast from 7:30-8:45 a.m., will kick off with an overall
economic forecast and evaluation by nationally acclaimed economist
Dr. Sam Chandan of Reis, Inc., as well as
a DFW market update by Brian O'Boyle of Apartment Realty Advisors.
The roundtable will consist of Bud Malone, founder
and former president of Malone Mortgage, Mike Brandenberger
of D4 Development Services and Wendy Stamnas, FHA Chief Underwriter
for Arbor, who will discuss how different kinds of financing
structures and solutions might be the key to many deals staying
above water during this unprecedented capital markets and financing
lockdown.
Registration is free, but seating is limited, so REGISTER
NOW. For more information, contact Lynne
Viccaro at events@arbor.com,
or 1.800.ARBOR.10.
Apartments Stable, Financing a Challenge:
NMHC Survey
Demand for apartment homes remains strong, but the
continued credit crunch is causing the volume of property sales to
slow sharply and making it more difficult for apartment firms to
access the debt and equity markets, according to the National Multi
Housing Council's (NMHC) Quarterly Survey of Apartment Market
Conditions.
The Market
Tightness Index ,
which measures changes in occupancy rates and/or rents, rose
significantly from 33 in January to 44, as more respondents
reported tighter conditions-and fewer reported looser
conditions-than three months earlier. While this reading is still
below 50, it is not much below, and comes on the heels of 16
consecutive quarters of over-50 readings. (For all four of the
survey indexes, a reading above 50 indicates that, on balance,
conditions are improving; a reading below 50 indicates that
conditions are worsening; and a reading of 50 indicates that
conditions are unchanged.)
It is also a sign that the "shadow market" of rental
homes being offered by individuals no longer able to afford to live
in them is not seriously eroding demand for professionally managed
apartments.
Click
to read more
Source:
The National Multi Housing Council, www.NMHC.org
Remodeling Activity Remains Steady in Q1
Remodeling activity remained steady during the
first quarter of 2008, according to the National Association of
Home Builders' (NAHB) Remodeling Market Index (RMI). The current
market conditions indicator increased to 41.8 from 40.9 in the
fourth quarter, while the future expectations measure showed no
change from the previous quarter at 37.9.
The RMI measures remodeler
perceptions of market demand for current and future residential
remodeling projects. Any number over 50 indicates that the majority
of remodelers view the market conditions
as improving. The RMI has been running below 50 since the final
quarter of 2005.
"The remodeling market continues to show
weakness, following the downturn in the overall housing
market," said NAHB Chief Economist David Seiders.
"We expect there to be some further erosion in 2008, with a
gradual recovery in 2009."
Click
to read more
For more information, go to www.nahb.org
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