DePaul University’s Institute for Housing Studies (IHS) released a report in March, Credit Constraints for Small Multifamily Rental Properties. In the report, IHS highlights the challenges faced by owners of small and mid-sized multifamily rental properties when attempting to finance acquisition and rehabilitation activities.
The Chicago Tribune covered the same topic in a recent article. In 2006, the top five multifamily lenders in the Chicago area made 934 loans for the purchase, refinance and rehab of buildings. In 2009, lenders made just 291 loans, according to the Woodstock Institute. Read the full article here.