Apartment Building Owners Face Higher Rates on Loans

It has suddenly gotten a lot more difficult to borrow money for an apartment property.

“The overall cost of borrowing has gone up undoubtedly,” says Peter Smyslowski, managing director in the San Francisco office of capital services provider HFF. “But the interest rates spreads offered by lenders are very similar to the spreads they offered last year.”

Long-term interest rates rose by well over 50 basis points in the last months of 2016,

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