Seattle, Wash. (July 20, 2019) – Alex Mundy of Kidder Mathews’ multifamily investment team led by Dylan Simon and Jerrid Anderson released a one-of-a-kind report this week tracking multifamily lending in Seattle and the Puget Sound region. The report concludes that, in this time of uncertainty, reviewing this granular data is the most effective way to understand which lenders can offer the best terms for investors.

The Multifamily Lending Market Update, now available for download, provides data and analysis of 2018, 2019, and Q1 2020 multifamily loan originations in the Puget Sound region, as well as 2019 national multifamily debt statistics and an overview of the impact that the global pandemic had on interest rates from March – June 2020.

“Following sharp drops after the Fed slashed rates in March, key interest rate benchmarks have remained mostly stable,” Mundy summarizes. “While historically low benchmarks do not necessarily translate to historically low rates for apartment owners in all situations, there has never been a better time to refinance a conservative loan. When it comes to acquisitions and construction loans, they are more challenging.”

Mundy is in close contact with lenders on a daily basis, providing insight into how loan volume and terms may have adjusted in the last few months and how lenders are looking at the current landscape

“Although there are fewer active lenders in the market than there were six months ago, in some cases rates are available in the 2.5% – 3.0% range, and for those investors it’s the right time to take advantage,” explains Mundy.

The Puget Sound region benefits from a robust lending ecosystem—the number and variety of competitive options available for apartments owners is extraordinary. While the market may have lost some ground in Q2 this year, the resilience of the Puget Sound market makes it a prime location for debt and equity investment now and as the economic recovery continues.

A digital copy of the full 2020 Multifamily Lending Market Update is available for download at

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