With the ever-expanding federal eviction moratorium, multifamily has had its share of problems during  the pandemic, even though the category has come through with minimal changes. Not all multifamily loans are well positioned for refinance and sales, but aggressive lending options are available for many borrowers, according to Joseph Landsberg, director of capital advisory, South Florida, for Franklin Street.

"With multifamily, we'd seen restrictions on loan to value," Landsberg tells GlobeSt.com, with Freddie Mac and Fannie Mae looking for as much as a 12-month reserve during the pandemic. "In the recent weeks they have relaxed that guideline, meaning if your loan-to-value is in the 60% to 65% range, they'll waive the reserve for lower leveraged deals."

Clearly concern is beginning to relax while competition among lenders is starting to heat up. "In general, we are looking at rates in the low 3% range," Landsberg says. "If you look at the whole spectrum of lending, multifamily is the most aggressive lending. I just had a regional lender who has reduced their rates by 10 basis points. For the first time I can ever recall, we are seeing rates in the high 2s for qualified multifamily loans in Broward and Palm Beach, Florida. That's a real loosening."