(RECAP: In 1986, the U.S. federal government made the LIHTC program as an indirect subsidy to encourage private investment in affordable housing. Since then, LIHTC properties have provided numerous opportunities for investors as they can often outperform traditional multifamily assets when it comes to investment returns. They maintain consistently high levels of occupancy and a foreclosure rate of less than 1.0 percent. Participation often allows banks to meet Community Reinvestment Act requirements. The LIHTC market accounts for about 90 percent of all affordable housing built in the U.S. Demand for LIHTC funding from investors remains strong as rising housing costs prevent many families from either buying a home or affording market-rate rentals. The affordable housing sector should remain profitable for both developers and investors for years to come.)

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(RECAP: The Gramercy Row apartment building in Roanoke has been a work in progress for more than two years. But last week, the building officially opened in the 400 block of Williamson Road. The building is one of the few newly built properties downtown in years. The apartments were built on top of a parking lot. Developer Lucas Thornton and his Hist:Re Partners LLC bought the lot from the city in 2014 with the intention of constructing an $8 million residential and commercial project. The 82 one- and two-bedroom apartments, which range from 700 to 1000 square feet, were constructed with modern amenities and Cox Gigablast internet service.)

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(RECAP: Capitalizing off of its start as a student lender, SoFi and government-sponsored enterprise Fannie Mae announced a new loan option on Wednesday that allows homeowners to refinance their mortgage at a lower rate and pay down the balance of an existing student loan. Under the new loan option, which is titled the Student Loan Payoff ReFi, SoFi stated it will pay down the student loan by disbursing payment directly to the servicer of the student debt. “People can pay off student loan debt and are left with one loan at the low rates that mortgage borrowers are enjoying in today’s market,” said Michael Tannenbaum, senior vice president of mortgage at SoFi. Typically, he said, student loans have a much higher rate than mortgages, making it better for borrowers to have more mortgage debt and pay off their student loans. For the initial starting period, the loan option is exclusive to SoFi.)

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