Venture West handles both purchase and refinance loans for multi-family, commercial and residential real estate.
Increasing numbers of buyers, property owners and investors are convinced that the national economy has bottomed out and is beginning to show modest signs of recovery, according to Hal Rose, VWF president.
Multifamily loans generated about 60% of the company's January loan volume, with the balance divided between commercial and single family residential loans, Rose noted. The Southern California apartment market is likely to be very strong for the next five to seven years, as property availability and land costs continue to make multi-family developments less attractive to developers, he adds.
Buyers are clamoring for investment grade apartments, driving up costs in a market with relatively little new product, Rose comments. Some owners are presently capitalizing on their strong cash flows and thinking twice before selling, he notes.
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