West Virginia multifamily is concentrated across Charleston, Huntington, Morgantown, and Wheeling. Morgantown is anchored by West Virginia University (the largest employer in West Virginia), WVU Medicine and the broader Ruby Memorial Hospital complex, and a growing biomedical and energy-research base (the National Energy Technology Laboratory, the WVU Energy Institute); Charleston is the steady capital-city market anchored by state government, Charleston Area Medical Center, and a meaningful but cyclical chemical and energy-services base; Huntington is anchored by Marshall University and Cabell Huntington Hospital , supporting active institutional and regional-bank lender competition on stabilized agency executions and the broader value-add bridge pool. Morgantown WVU-adjacent and broader Class A multifamily draws agency competition; Charleston and Huntington workforce-housing supports steady regional-bank-led financing.
Active capital sources
- Agency Lenders (Fannie/Freddie)
- West Virginia Regional Banks
- National Debt Funds
- Life Companies
Loan programs we place
- Acquisition Financing
- Value-Add Bridge Loans
- Agency Perm Refinance
- Construction-to-Perm
Source notes
- BLS QCEW, 2025
Frequently asked questions
What is the typical LTV for Morgantown multifamily in the current market?
Stabilized agency executions typically clear 65% to 75% LTV on Class A and 70% to 80% on workforce / Class B . Morgantown WVU-adjacent and broader Class A multifamily draws agency competition; Charleston and Huntington workforce-housing supports steady regional-bank-led financing Bridge debt funds will go higher on value-add product where the going-in basis supports the stabilized agency take-out.
Are West Virginia multifamily loans non-recourse?
Yes for institutional executions. Agency, CMBS, life-company, and most national debt-fund executions are non-recourse with standard bad-boy carve-outs. Smaller-balance regional bank loans and most construction and bridge loans typically carry partial recourse, particularly for newer sponsors or during construction and lease-up periods, with recourse burning off at defined stabilization milestones.
What is West Virginia's transfer tax structure for commercial multifamily?
West Virginia imposes a state real estate excise tax of $1.10 per $500 of consideration (0.22%), with counties imposing an additional $1.65 per $500 (0.33%) for a combined typical burden of $2.75 per $500 (0.55%). Some counties impose higher rates. Total transfer tax burden of roughly 0.55% of consideration is moderate by national standards and meaningfully lower than Pennsylvania, Maryland, or DC equivalents.
What construction debt is available in West Virginia right now?
Multifamily construction is most active in the Morgantown metro and the broader institutional submarkets where the going-in basis supports stabilized agency refi and the demand thesis is strongest. Required equity is typically in the 30% to 40% range with partial recourse during construction and lease-up burning off at stabilization. Bank construction lender response is competitive across the major in-state regional bank pool.