One of the trendier types of real estate these days are BTRs and SFRs. Wut? Build To Rental (BTRs) and Single Family Rentals (SFRs) are single-family homes and/or combinations of single-family and attached homes or townhouses that are operated as a multifamily rental community. They feature apartment-type amenities and provide residents with more space and the appearance of home ownership on a rental budget. Wall Street and a host of other institutional investors have deployed significant capital towards the acquisition and development of BTRs and SFRs.

In the 1980 classic movie, The Blues Brothers claimed they were on a mission from God.

While it may not be as divinely-inspired as Jake’s and Elwood’s cause, HUD has a mission too, but it’s quite lofty if you are searching for capital for multifamily housing projects and coming up short.

One word can summarize HUD’s 2023 mortgage insurance volume – meh! Here is a look at Fiscal Year (FY) 23, which ended on September 30.

The space between affordable and market rate housing development can be a lonely one.  Affordable projects can participate in tax-credit, supplemental grants, and Section 8 housing assistance programs; market rate deals often generate sufficient income to support a simplified capital stack of debt and equity.