Bisnow | Apartment Defaults To Double This Year, Fitch Predicts

    Apartments | Bisnow | CMBS | Defaults | Fitch

    — Boston Multifamily Real Estate Investment and Development. The premier platform for a wide range of resources, tools, and advisory services for multifamily and mixed-use apartment building investors, and developers of land, in the Greater Boston area of Massachusetts.

    Feb 5, 2024

    Apartment landlords are experiencing headwinds due to a record onslaught of new supply, with 900,000 units under construction and more than 440,000 set to deliver this year in the U.S., according to CBRE. That influx of inventory is diminishing revenue growth and escalating expenses that are hitting cash flow, according to the Fitch report. The net result is more apartment owners will be underwater on their loans.The delinquency rate on multifamily CMBS loans has already ticked up, rising to 2.6% in December from 1.6% six months prior, according to Trepp.

    Source: Apartment Defaults To Double This Year, Fitch Predicts

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