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SAN DIEGO—Recently the Federal Housing Finance Agency created a new group with the goal of ensuring that both Fannie Mae and Freddie Mac foster a competitive, liquid and resilient multifamily market. "By creating a new group, it speaks to a commitment and dedication to focus on affordability in multifamily," according to Siobhan Kelly, associate director for multifamily at the FHFA.
Kelly made her comments during a panel session at the recent MBA CREF conference, where multifamily finance was a chief topic due to, no doubt, the insatiable demand for this product. While there are the usual headwinds facing the multifamily asset class, the good news for investors is that its capital sources—both from the public and private sectors—remain confident that they can be managed.
Private Sector Dynamics
In the private sector, competition among the players remains intense amid a push to give it more run room compared with what the GSEs currently enjoy.. "We want to be sure Fannie and Freddie are where they are needed but aren't crowding out any other sources of capital," Kelly said.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
