Multifamily Market Rebounding

COVID took it’s toll on multifamily landlords, specifically owners of small to midsize buildings with fewer than 20 units. Major markets like Chicago, Atlanta, and Los Angeles experienced tenant rent defaults in excess of 20% of total building occupants. Despite the significant impact on investors, we are seeing the multifamily market improve rapidly, with rent collections improving and refinance originations up, specifically with Fannie Mae and Freddie Mac Fixed-Rate loan products.