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SOURCE: Direct Commercial Funding
CEO Calvin D. Blake Cites Residential Property Trends in Predicting Growth in Apartment and Multi-Family Building Construction.
Houston, TX (PRWEB) December 06, 2012
Houston, TX — Direct Commercial Funding Inc., a Texas leader in providing funding to builders of apartment and multi-family structures locally and nationwide, sees signs of continuing growth within that sector.
Calvin D. Blake, the firm’s CEO, cites market trends reported by the National Association of Realtors as a further indication that his company will be increasingly active in servicing builders focused on this segment of the market.
“Most of the major commercial real estate sectors continue to show steadily improving fundamentals which are easily absorbing the relatively small number of new residential rental units coming into the marketplace,” says Blake.
And he believes this will continue to be the case in the near future.
In their latest commercial real estate forecast the National Association of Realtors reported in November that the nation’s apartment rental market, along with other multifamily housing, is projected to see vacancy rates decline from 4.0 percent in the fourth quarter to 3.9 percent in the fourth quarter of 2013. According to the Association, vacancy rates below five percent are considered a landlord's market with demand justifying higher rents.
“This broadly correlates with the situation in key metropolitan areas within our own region, and I therefore expect further growth in related funding services,” notes Blake.
Direct Commercial Funding Inc. is a direct private commercial lender based in Houston. The company delivers customized solutions and a full menu of loan and financing programs for business owners, developers, investors and commercial real estate professionals throughout North America and abroad. This includes 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.
For more information on Direct Commercial Funding Inc. and its products and services visit their website at DirectCommercialFunding.com or call 877-239-7933.
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