GlobeSt.com: What trends are we seeing in multifamily fundamentals in Florida and how is that impacting multifamily investors?

Foschini: It's a very good time to be a multifamily borrower, particularly in a permanent loan space. There's favorable financing across the spectrum, from banks, debt funds, CMBS, life companies and of course the agencies.

What we have seen in this real estate cycle, and where I believe Berkadia has an advantage, is in the lower-leverage financing, which is the hallmark of life insurance companies and banks. That's where a lot of owners want to be today.

GlobeSt.com: What are the opportunities and challenges ahead for multifamily investors?

Foschini: On the “challenge” end, we have seen some pullback in construction loans, but that's tied to new regulations more than an oversupply of product in the market. And the upside of that is that projects that are funded will most likely be absorbed with less competition and will have a better chance at meeting or exceeding their pro formas.

In truth, we see more opportunity than challenges: lenders are making a lot of positive innovations, including incentives for “green” properties and, from agency lenders, housing that has an affordable component. In both of those circumstances, a borrower will find an unlimited supply of capital at significantly better rates and terms.

Steady gains in the US economy have resulted in net positives for the multifamily sector—will this wave continue for the foreseeable future? What's driving development and capital flows? Join us at RealShare Apartments on October 19 & 20 for impactful information from the leaders in the National multifamily space. Learn more.

ORLANDO— Charles Foschini has switched allegiances. Berkadia has hired him as a senior managing director. That's the firm's highest production title.

Foschini is a nationally recognized leader in real estate investment banking. He brings nearly two decades of experience structuring complex sales and finance transactions to Berkadia.

Most recently, Foschini served as vice chairman for CBRE. He was a perennial top producer at the national levels across all product lines and worked on complex deals.

Foschini has negotiated sale and financing transactions exceeding $15 billion in property transactions, including several portfolio and landmark single-asset deals surpassing $200 million dollars. GlobeSt.com caught up with Foschini to discuss trends he's seeing in Florida multifamily in this exclusive interview.

GlobeSt.com: What trends are we seeing in multifamily fundamentals in Florida and how is that impacting multifamily investors?

Foschini: It's a very good time to be a multifamily borrower, particularly in a permanent loan space. There's favorable financing across the spectrum, from banks, debt funds, CMBS, life companies and of course the agencies.

What we have seen in this real estate cycle, and where I believe Berkadia has an advantage, is in the lower-leverage financing, which is the hallmark of life insurance companies and banks. That's where a lot of owners want to be today.

GlobeSt.com: What are the opportunities and challenges ahead for multifamily investors?

Foschini: On the “challenge” end, we have seen some pullback in construction loans, but that's tied to new regulations more than an oversupply of product in the market. And the upside of that is that projects that are funded will most likely be absorbed with less competition and will have a better chance at meeting or exceeding their pro formas.

In truth, we see more opportunity than challenges: lenders are making a lot of positive innovations, including incentives for “green” properties and, from agency lenders, housing that has an affordable component. In both of those circumstances, a borrower will find an unlimited supply of capital at significantly better rates and terms.

Steady gains in the US economy have resulted in net positives for the multifamily sector—will this wave continue for the foreseeable future? What's driving development and capital flows? Join us at RealShare Apartments on October 19 & 20 for impactful information from the leaders in the National multifamily space. Learn more.