The Hudson Report (“THR”) is a bi-weekly summary powered by Hudson Realty Capital.
Rate Indications*
*For current rates, please call your Hudson Realty Capital originator.
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Word Around Town
Utilizing Section 223(f) for Manufactured Home Community Program: This Housing Notice (HN) launches a program (the Manufactured Home Community Program or MHC Program), to allow refinance and purchase transactions under Section 223(f) for eligible borrowers. This HN describes the features of the MHC Program, including underwriting criteria, eligibility requirements, application exhibits and the process for HUD application review (read full article here).
In Other News
Apartment Vacancy Rates Hold Steady As Multifamily Demand Nearly Matches Supply (read full article here).
In the 223(f) Loan Program, commercial space is limited to 25% of net rentable area and 20% of underwritten effective gross income.
Hudson Highlights
Team Member Spotlight: Alex Loo
Alex Loo is a Director of Originations at Hudson Realty Capital, where he focuses on originations and helping to expand the company’s FHA platform. Mr. Loo brings nearly 10 years of finance experience specializing in multifamily and senior housing lending to his new role with Hudson Realty Capital. Prior to joining the firm, Mr. Loo was a Vice President at Capital One, where he identified and executed refinancing opportunities for the bank’s existing FHA portfolio, LEAN and bridge loans. And as head of prescreen, Mr. Loo oversaw all preliminary review of prospective multifamily and healthcare transactions for bridge, MAP, and LEAN executions. Before his time at Capital One, Mr. Loo was a Vice President at Ziegler Investment Bank, where he originated debt transactions for senior housing, sourced merger and acquisition transactions, and underwrote senior housing, healthcare and affordable housing real estate debt.
Mr. Loo graduated from George Washington University magna cum laude with a B.A. degree in International Affairs and Economics, and was a Visiting Student at the University of Oxford (Pembroke College). He is currently pursuing a M.B.A from the University of Chicago Booth School of Business.
Our Commitment
Hudson Realty Capital strives to combine a responsive, hands-on approach to investment with a unique ability to quickly adapt to shifts in the market. While we have a new and refreshed look, our top-level client service remains the same.
Check out our website and follow us on LinkedIn for our latest updates.
The Hudson Report and the news, information and observations stated herein are provided for informational and discussion purposes only and are not, and may not be relied on in any manner, as commitment or as legal, tax or investment advice. Hudson believes that the information provided herein is reliable but does not guarantee its accuracy or completeness and material aspects of information herein may change without notice. The interest rate indications set forth in The Hudson Report are estimates based on current market conditions. Final rates will be set at rate lock or at closing. The Hudson Report is not an offer or commitment to lend, and any such offer shall only be set forth in a signed, written commitment letter from Hudson. All transactions are contingent on satisfactory due diligence review and approval including evaluation of 3rd party reports, borrower credit, loan collateral and property, borrower and guarantor financials. Hudson is an Equal Opportunity Lender.
Hudson Realty Capital LLC, 570 Lexington Avenue, 22nd Floor, New York, NY
