Multifamily & Affordable Housing
Agency, HUD/FHA, bank, bridge and private capital for conventional and assisted multifamily.
Multifamily is the deepest debt market in commercial real estate, which is precisely why execution quality varies so widely. The number of available executions means the difference between the right one and a merely acceptable one is rarely obvious from a rate sheet.
What we finance
Conventional and stabilized multifamily, project-based Section 8 and other assisted properties, LIHTC assets across the compliance and extended-use periods, value-add and lease-up business plans, and portfolio-level executions across multiple assets and lenders.
Where the capital comes from
Fannie Mae and Freddie Mac, HUD/FHA under 223(f), 223(a)(7) and 221(d)(4), banks and credit unions on balance sheet, debt funds and bridge lenders for transitional business plans, life companies for low-leverage stabilized assets, and LIHTC equity where the structure calls for it.
What we underwrite before the market sees it
- Existing debt, prepayment structure, lockout and defeasance exposure
- Proceeds and debt service across each viable execution, not just the presumed one
- HAP contract terms, renewal timing and contract rent trajectory on assisted assets
- LIHTC compliance status, extended-use restrictions and recorded agreements
- Rehabilitation scope and whether it changes program eligibility
Representative experience
- Agency refinancings of $50M (Houston) and $46M (Austin, affordable)
- HUD/FHA $35M affordable multifamily execution in Memphis
- Bridge financings of $40M (rehabilitation) and $52M (lease-up), both Houston
- Bridge $100M cross-collateralized loan across a Texas portfolio
- LIHTC equity of $20M (Austin, new construction) and $18M (Oklahoma City, post-completion)
Have a maturity, refinance or acquisition ahead?
Send a property or portfolio and we will return current balance, maturity and indicative options at no cost.
Start a confidential reviewThis material is for general educational purposes only and does not constitute legal, tax, or financial advice. Terms, programs and requirements change and apply differently to specific transactions; confirm current requirements with qualified counsel and licensed professionals. Gibson Capital Advisors is a debt advisory firm and does not make loans.