Banks see some tarnish in multifamily’s shimmer

2_0_C_Hero_RealEstateFinancingBy Eric Jay Toll | Phoenix Business Journal

Bankers are seeing a little less glimmer in the rush to build multifamily residential units in the Valley.

Real estate financing was one of the hot topics when 11 Valley banking leaders and officials got together March 10 for the second annual Phoenix Business Journal Banking Roundtable at SkySong in Scottsdale.

With more than 6,000 units under construction and a similar number on drawing boards — most in the luxury market — banks are looking away from multifamily and more toward other commercial real estate capital opportunities.


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