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What Makes JS MultiCapital Unique?

2019-09-11T21:12:14+00:00By |News|

What makes JS MultiCapital a unique firm in the multifamily finance industry?  Multifamily housing developers and investors work with JS MultiCapital for guidance and assistance achieving their goals pertaining to portfolio growth, equity returns, and multifamily asset management.  Our expertise in the multifamily financing industry helps investors avoid potential pitfalls and costly mistakes that so often can accompany this complex process.  But what sets us apart in the competitive arena of multifamily financing? We come to the table as an advocate with your stated multifamily investment goals in mind. We perform annual client portfolio analyses to help you make

Rate Locking a Multifamily Agency Loan

2019-06-17T16:13:14+00:00By |Financing|

As a result of continued strong demand for multifamily acquisitions in the U.S., capitalization rates being paid by investors can easily be equal to or less than debt constants on multifamily agency loans. For example, if you are purchasing a property in a high demand market you might need to acquire the property at a capitalization rate at or below 5%. In today’s interest rate environment (June 2019), your debt constant for a market rate non-green certified property could easily exceed the purchase capitalization rate by 1% (5.75% to 6.00%). If interest rates increase as the loan application is

After Due Diligence But Prior to Closing

2019-04-25T16:13:58+00:00By |Closing|

In most multifamily purchase agreements, there is a due diligence period for the buyer to inspect the property and its management documents to ensure that the terms of the purchase agreement are reasonable and meet with the buyer’s expectations of outcome. However, after the due diligence period has expired, and prior to closing, the buyer may be exposed to unanticipated risks. The first of these risks naturally involves damage to the property and the corresponding cost of repairs and loss of income. To mitigate this potential concern, the purchase agreement should include specific remedies, discussion of insurance claims and, a

HUD Project Concept Meetings

2019-04-22T14:31:40+00:00By |HUD|

In recent years, HUD has mandated that prior to submitting a loan application package for a HUD 221(d)4 or 220 loan, the lender must attend a project concept meeting with HUD. While not required, we recommend that project concept meetings be held for 223(f) loans, particularly when the borrower is seeking a cash-out refinance. We also recommend that the developer/borrower attend the project concept meetings and, if helpful, the lender’s appraiser and market study firm. HUD construction and substantial rehabilitation loans require an appraisal to be submitted with the final loan application package. However, unlike acquisition financing or refinances, the

Closing Advice Tidbits

2019-04-22T14:32:26+00:00By |Closing|

Once your financing has been approved and you have received your loan commitment, there is a broad laundry list of items that warrant your attention. We’ve highlighted a few of those that sometimes can cause closing indigestion if not handled properly: Payoff notification to current lender: Most commercial real estate loans mandate payoff notification of between 30 and 60 days. Sometimes in the thick of the closing process, this requirement is overlooked. With so many multifamily loans today being securitized after closing, it is imperative to adhere to this requirement; otherwise the closing of your new loan could be delayed,

Contact Information

Kathryn Cassidy
2000 Auburn Drive, Suite 200
Beachwood, OH 44122

Phone: 216.765.9000

Fax: 440.919.0270

Web: JSMultiCapital.com