Now searching in 42 States. This category is set up for Developers who are looking to build apartment buildings or to convert Mill/Mercantile buildings into apartments using the HUD 221d4 Loan Program
Now searching in 19 States. This category is set up for investors who are looking for large apartment complexes that qualify for the HUD 223F Loan Program.
This category is geared to investors looking for small apartment complexes in New England that would qualify for Fannie Mae's smaller loan program.
New Listings will be published each Saturday by 5pm Eastern time. Please select a state to view listings
Gomberg Report
Changes to The Gomberg Report. As of September 2009 we have now added property listings for large apartment complexes with asking prices above $5,000,000. These larger deals potentially qualify for the HUD 223-F loan program. This program offers 85% LTV financing. In addition, this program will allow the seller to hold up to 7.5% of the purchase price as a second mortgage. The combined LTV can be as high as 92.5% (subject to appraisal). To qualify for this program the property has to be in excellent condition and have an occupancy of at least 87%.
Our goal in offering this report is twofold:
To make it easier for real estate investors and brokers to do business in this arena by providing an exchange of useful information between investors searching for properties and brokers marketing properties.
To generate more business for our company through referrals from both brokers and investors who access our site. If you submit a request for more information on any of the properties listed, the listing broker should contact you. Someone from our office may also contact you to discuss financing options available to you.
In April of 2009we added development opportunities to our web site. Most of these properties are ideal candidates for conversion to apartments or condos. All of these listings will be on one dedicated page "Development Opportunities".Most of these properties are financible through our 221-d-4 loan program. Details are available on our "Financing Page".
For each transaction there are usually a few different financing products available. Once we understand our clients' specific needs we can make an informed and intelligent decision on which program offers the best fit for our client. Please visit our Financing Info page for details on the many financing programs available.
