Apartment Owners Leap at an Opportunity to Refinance Loans
With coronavirus concerns fueling interest rate cuts, multifamily borrowers are attempting to capitalize.
March 11, 2020 | Bendix Anderson | National Real Estate Investor
Long-term interest rates are lower than they have ever been—and owners of apartment properties are rushing to take advantage by refinancing into low-interest loans.
“There is a massive wave of interest in refinancing,” says Rick Salinas, director of JLL’s San Francisco office. “These are essentially some of the lowest interest rates on record.”
Worries about the rapidly-spreading coronavirus (COVID 19) are contorting the financial markets, driving down interest rates. The panic is creating a huge opportunity for the owners of apartment properties to refinance the loans on their properties.
