Look for lenders to become more competitive on recourse and proceeds this year.  The money center banks, including Wells Fargo, BofA, JP Morgan Chase and Citigroup will look at construction loans with little to no recourse.  Many of the larger regional banks will follow suit in the second half of the year.  It’s very likely [...]

LTC is on the rise as lenders begin to get more comfortable with construction loans.  Don’t be surprised to see LTCs settle in the 65% to 75% range this year.  This is a hefty improvement over last year when construction loans were nonexistent.  Interest rates should land between 5% and 7%, with 24- to 36-month [...]

Fundamental improvements at the property level and more available debt capital will help transaction volume build in the student housing sector during Q3 and Q4.  Investors are eager with strong cap rates in the high 6% to low 7% range and more available financing options now that CMBS lenders and life companies are starting to [...]