NAVIGATION

May 24, 2016

CEO Sounding Board

Florida CEOs answer: Is credit available from lenders?

Mike Vogel | 10/4/2011

Apartment Development
Joel Altman
Chairman - Altman Cos. - Boca Raton

Joel Altman
[Photo: Jeffrey Burnell]

"If it's for apartments. There's a greater availability today than there was 12 to 18 months ago. For the right property and the right sponsor, there is money available at the right leverage factor. Where we used to leverage it at 80% loan-to-cost or loan-to-value, today it's probably 60% to 70%. I've never seen the rental apartment business with the metrics as good as they are. I think the banks recognize that."

Tags: Trendsetters, Banking & Finance

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Florida Trend Video Pick

2016 Distinguished Entrepreneur Winner: Business Advocate of the Year
2016 Distinguished Entrepreneur Winner: Business Advocate of the Year

The Florida SBDC  at Florida Gulf Coast University awards Judy Williams, owner of SPADA Day Salon and Spa, Business Advocate of the Year for her dedication and contributions invested back into the Southwest Florida non-profit community.

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