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We just published a new 24-page Apartment Lender Directory. It provides information on the types of financing apartment investors and developers can obtain in the Puget Sound region, and where they can get it.

It is a special report for subscribers to our Apartment Advisor. They can download it now.

The directory includes information from 22 lenders who claim they have money and want to lend it on new and existing apartment projects. It’s hard to say exactly how much money is available for our market. But a number of the lenders surveyed said they have goals to place anywhere from $40 million to $140 million or more in the local apartment market over the next twelve months.

• They are all ready to refinance existing projects or provide acquisition financing.
• About 70% will provide financing for renovation.
• Just over 50% want to do construction loans for market rate apartments.
• Only 5% (one lender) said they would provide financing for a condo conversion.
• None of them currently offer financing for new condo construction.

Granted, we found some banks are sitting on the sidelines right now. It’s not that they aren’t busy. In this new regulatory environment, they’ve switched from lending money for commercial real estate to working at shedding some of their commercial real estate debt.

Here is a list of the lenders in the directory.

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