Insights Jan 8, 2019

Expert Opinion: Zach Murphy from Pender Capital on housing crisis and affordable housing

Here we get to know Zach Murphy from Pender Capital, a lender that helps combat the housing crisis by working on projects to revitalize older and low-income developments. We’d love to hear about other lending programs geared toward affordable housing!

Christian:                      00:04                Hello everyone, Christian Gorissen with RealAtom, I’m here with Zack Murphy with Pender Capital. Great to see you today and Zach, give us a little background what Pender Capital is.

Zach:                            00:16                Sure. Pender Capital is a nationwide bridge lender. We do small to midsize transactions from one to ten million dollars with a focus on multifamily housing deals generally in the short term, one to two years. And focusing primarily on secondary and tertiary markets.

Christian:                      00:36                One of the things that I found very interesting is that you really trying to tag the affordable housing crisis here in the United States. And can you give us a little example of some of the deals that you worked on?

Zach:                            00:46                Sure, absolutely. We are very focused on a lot of the low income and the struggling aspects of the multifamily crisis in the, sorry, of the housing crisis in the US. We do work with a lot of entrepreneurs and sponsors who may not have had a lot of experience or deep pockets to help some of these struggling neighborhoods and struggling housing developments, particularly older developments that are trying to refresh and trying to give their residents a better quality of life even in the low income or in the lower realm of the workforce housing, until we’ve done a lot of those transactions. Particularly in areas that are struggling.

Christian:                      01:32                Great. Uh, that sounds incredible. I’m glad to hear that. We have lenders that are actually, they’re looking for this model guys and addressing affordable housing. Thank you very much. I appreciate it.

Zach:                            01:41                Thanks very much.

 

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