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Timely Insights that Support Market and Property-Level Decisions
- STATVAL Automates Income Capitalization Approach, 04/21/22
- Rising Interest Rates, Low CAP Rates, and Expense Growth, 05/01/22
- Inflation and Expense Growth by CMSA, 05/16/22
- Expense Growth by Operating Statement Line-item, 05/30/22
- Underwritten NOI and Levered Return Projections, 06/13/22
- Affordability: Invest in Low-Income Census Tracts, 08/30/2022
- Expense Inflation -Lessons for Investors, 09/12/22
We encourage clients to use the research briefs as templates for self-directed analysis using our STATVAL database application. Contact us for a demo and log-in.
Annual Asset Management Business Plans
Clients have used our Operating Performance Benchmark Analysis on an annual basis starting in 2017.
- MFC Benchmarking reports support annual business planning, providing insights into a property’s competitive position. Impact of implementing annual business plan items can be measured as part of the next planning cycle.
- MFC reports also support annual hold/sell analyses, a critical aspect of property annual plans.
Automated Statistical Valuation
The MFC Statistical Valuation Software Application (STATVAL™) provides an automated and cost-effective method to perform Property-Level Analytics. Clients use output either on a stand-alone basis and/or feed output into Client Asset Management and Underwriting Models. STATVAL™ applies the Income Capitalization Method in a manner that utilizes verifiable data and statistically matches underwriting assumptions used to calculate DSCR and LTV on documented Loan Originations. Once the Subject Property has been entered into STATVAL™, a Benchmark Underwriting may be executed in as little as 5-10 minutes. In addition to Property-Level Analytics, STATVAL provides Market-Level Research Dataset Downloads and Statistics. These tools provide a cost-effective complement to both in-house and external data and analytics.
AGENCY CMBS SURVEILLANCE
SUBORDINATE AND CONTROLLING CLASS INVESTMENTS
The STATVAL™ CMBS Surveillance Module is our most advanced application. The Module is a direct outgrowth of over a decade of experience in proprietary investment and risk management analytics related to FREMF Series K Controlling Class Tranches. The Module enables owners, buyers, sellers, and brokers of FREMF Series K Controlling Class Tranches to quickly obtain a reliable current LTV, DSCR, and levered income return on each asset. This allows users to identify loans that are likely to require capital to pay debt service, fund capital expenditures, or refinance. The user can then import identified properties into STATVAL™ Property-Level Analytics templates for a deep-dive underwriting.
Database, Verification, Confidentiality
A core component of the Multifamily Comps (MFC) Statistical Valuation System (STATVAL) is proprietary software that extracts and repurposes raw CMBS files for Advanced Statistics and Automated Property-Level Analytics.
- 45,000+ Appraised Values and Underwritten Financials and 150,000+ serialized Operating Statements extracted from CMBS Offering Circulars and Trustee Reports
- Primary concentration is Garden style apartments serving middle income households. Also includes significant groupings of Mid-Rise, High-Rise, Senior, Healthcare, Student, and Manufactured Housing.
- Integrated with Tract-Level Census Data used to calculate Demographic Profiles for each Database and Client Property. Includes range of Affordability Categories consistent with FHFA and ESG mandates.
- All Client Property Data is saved on segregated data tables for the exclusive usage by the respective Client and specifically NOT co-mingled with the broader MFC Database or made available to other Clients.