Berkadia Multifamily Summit Focused on Affordable Housing Demand

Boston – Unmet demand for affordable multifamily housing in the Greater Boston region and nationally surfaced as a key theme of discussion at Berkadia’s 2017 Multifamily Summit.

More than 100 real estate professionals attended the Berkadia 2017 Multifamily Summit held in November at the Omni Parker House in Boston. Many panelists at the summit noted that demand for all rental housing is likely to increase, but will likely continue to experience a particular shortfall of affordable housing.

“The biggest change we’ve seen is that yield buyers are now focusing on the affordable space and have the ability to close much faster,” said Rachel Edwards of WinnDevelopment. While experts indicated some metros are experiencing softening in rents, panelists pointed to several ongoing positive market fundamentals causing a continued demand for the multifamily product.

As affordable and workforce housing continues to be in limited supply nationally, experts noted the importance of Fannie Mae and Freddie Mac’s role in providing competitive debt options to support these properties. Panelists also focused on current tax reform measures and its potential impact to the multifamily market, particularly in relation to resources available for affordable housing development. John Cannon of Freddie Mac was among the panelists who noted an ongoing strength in the sector. “At the end of the day, we are under-housed. We are looking for dark clouds in the multifamily business, but we don’t see any signs in the foreseeable future,” Cannon voiced.

All panels were moderated by members of Berkadia, including Managing Director Ryan Nelson, Senior Director Gemma Geldmacher, and Senior Vice President Frank Lutz. Berkadia, a joint venture of Berkshire Hathaway and Leucadia National Corporation, welcomed national and regional multifamily industry leaders for an insightful panel discussion examining the health of the industry, both locally and nationally.

“As a champion of big-picture thinking, Berkadia is proud to have assembled a highly experienced group of professionals for this candid discussion on the multifamily sector’s evolution and leading indicators for the future,” said Ryan Nelson of Berkadia. “Our goal in hosting this event was to provide a platform for insightful discussion and meaningful industry connections.”

Gemma Geldmacher, Sr Director, Berkadia; Rachel Edwards, VP Acquisitions, WinnDevelopment.