**Thorofare’s Andrew Kim Provides Preview of Upcoming Connect Multifamily Event**
*ConnectCRE’s Connect Phoenix Multifamily Conference Set for April 10 at The Westin Kierland Resort & Spa in Scottsdale*
On April 10th, ConnectCRE will host the Connect Phoenix Multifamily event at The Westin Kierland Resort & Spa. Ahead of the conference, we caught up with Andrew Kim, Director on the Originations team at Thorofare, to hear his perspective on the evolving multifamily financing landscape.
**Q: Have you seen a shift in the types of loans that clients are seeking — such as more acquisition loans versus refinancing?**
**Andrew Kim:**
The majority of our recent apartment loans have been refinances, particularly for newly built properties. We’ve seen a significant number of loan requests aimed at retiring high-leverage construction debt that originated in 2021 and 2022 and is now maturing.
**Q: When it comes to the types of multifamily deals you’re closing in the Phoenix market, are there any patterns or conditions that stand out compared to other regions where Thorofare operates?**
**Andrew Kim:**
The Phoenix multifamily market has seen a large influx of new supply, and many assets in the metro area are still struggling to stabilize from an occupancy standpoint. This level of instability isn’t something we see as often in other markets where we’re active.
**Q: Are you seeing capital sources return to multifamily lending, especially those that pulled back due to interest rate hikes by the Federal Reserve?**
**Andrew Kim:**
Yes, we are observing an increase in capital availability for multifamily assets, particularly within the debt fund space. Lenders are beginning to underwrite more aggressively, especially in strong markets or with strong sponsorship. We’re seeing cap rates underwritten to be 25 to 50 basis points tighter than before, and some underwriting includes assumptions of future rent growth. This signals a trend of lenders leaning in more heavily to remain competitive and win deals.
**April 10 – Arizona Rental Housing Leaders Take the Stage**
Join leading developers, investors, owners, lenders, managers, and brokers at Connect Phoenix Multifamily, SFR & BTR on Thursday, April 10th. The event will provide insights on what Phoenix and Scottsdale rental housing experts expect for the remainder of 2025.
**Event Details:**
– **Date:** April 10, 2025
– **Location:** The Westin Kierland Resort & Spa, Scottsdale
Don’t miss the chance to network with and learn from the top minds in rental housing. For more information, visit www.ConnectPHXMF2025.com.
