apartment construction remains a top priority
Houston, TX (PRWEB) May 30, 2013
Construction of apartment and multi-family structures is experiencing a boom that shows no sign of flagging, says Houston’s Direct Commercial Funding Inc. And the boom will continue on into the coming year, they predict.
The firm, a major player in the world of commercial development funding, cites industry statistics as well as anecdotal evidence in predicting continuing growth within that key construction sector.
“Periodic reviews we do with clients and other market movers indicate strongly that apartment construction remains a top priority,” says Calvin D. Blake, Direct Commercial Funding’s chief executive officer. “Industry statistics show above average growth in the apartment and multi-family construction sector.”
He adds that, in recent business quarters, his firm has experienced a rise in applications for commercial loans funding apartment construction locally and regionally.
“This corresponds with market trends highlighted in recent National Association of Realtors reports. We have accordingly shifted our own focus to service more of these project financing requests,” Blake says. “We expect residential real estate to continue to display improving fundamentals and easily absorb the number of new residential rental units coming onto the market.”
The National Association of Realtors reported in November that our nation’s apartment rental market, along with other multi-family housing, will experience a vacancy rate decline from 4.0 percent in the fourth quarter of 2012 to 3.9 percent in the fourth quarter of 2013. A vacancy rate below five percent is considered a landlords’ market, according to the Association.
Based in Houston, Direct Commercial Funding Inc. is a direct private commercial lender providing custom fit solutions and a variety of financing options. Their clients are business owners, developers, investors and commercial real estate professionals throughout North America. Financing investors and owners seeking to purchase, build, or refinance apartment buildings, multi-million dollar apartment complexes, luxury apartment or townhouse communities, or smaller apartment dwellings such as single-building apartments that house only four or five separate families are their targeted demographic.
Connect with Direct Commercial Funding Inc. and its products and services by visiting their website at DirectCommercialFunding.com or by phoning (877) 239-7933.