What's the secret to securing financing in today's multifamily market? This week, Pat Brady of Brady Capital Advisors, a well-known mortgage broker in the New England commercial real estate market, takes us on a deep dive into the world of multifamily financing. With a focus on multifamily properties, Pat has a track record of sourcing debt for a variety of deals ranging from acquisition to value-add projects. His experience includes working with local banks, credit unions, and regional lenders, specializing in the middle market range of $2 to $50 million.

We explore the timeless subjects of being a great borrower and locating a top-notch mortgage broker in this episode. Pat offers his thoughts on how the lending landscape has changed in the last 12 to 24 months and how this has affected borrowers. We look at the New England multifamily sector's lack of distress, the function of regional banks and credit unions, and the significance of having solid balance sheets and liquidity positions when obtaining financing. Pat also offers insightful guidance to borrowers attempting to understand the current real estate lending environment.

Here are some highlights from the episode:

 - What are the key changes in the lending market over the last few months, and how are they impacting borrowers?
 - How have cap rates shifted in New England, and what factors influence these changes?
 - What challenges are borrowers facing in getting deals financed, and how are deposit requirements impacting the process?
 - What are banks looking for from borrowers beyond deal-specific metrics, and how can borrowers present themselves well to lenders?
 - How has the approach to underwriting deals changed, and what strategies can borrowers use to navigate the current market conditions?

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