Wyoming multifamily is concentrated across Cheyenne, Casper, Jackson, and Laramie. Cheyenne is anchored by F.E. Warren Air Force Base (the headquarters of the 90th Missile Wing), state government employment, and a growing data-center cluster built by hyperscale operators; Casper is the energy-services-driven secondary metro; Jackson is the globally recognized Jackson Hole resort market with one of the most supply-constrained land markets in the country (most of Teton County is federal land) , supporting active institutional and regional-bank lender competition on stabilized agency executions and the broader value-add bridge pool. Cheyenne Class A and B+ multifamily anchored by F.E. Warren and the data-center cluster draws agency competition; Jackson Class A multifamily is a distinctively high-end, supply-constrained submarket where pricing per unit is among the highest in the U.S.
Active capital sources
- Agency Lenders (Fannie/Freddie)
- Wyoming 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 Cheyenne 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 . Cheyenne Class A and B+ multifamily anchored by F.E. Warren and the data-center cluster draws agency competition; Jackson Class A multifamily is a distinctively high-end, supply-constrained submarket where pricing per unit is among the highest in the U.S. Bridge debt funds will go higher on value-add product where the going-in basis supports the stabilized agency take-out.
Are Wyoming 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 Wyoming's transfer tax structure for commercial multifamily?
Wyoming does not impose a state real estate transfer tax. Counties impose a small recordation fee that is nominal. The absence of a state transfer tax, combined with no state income tax and no state corporate income tax, materially reduces transactional and ongoing-ownership costs versus most other states and is a structural cost advantage for Wyoming CRE transactions, particularly for high-net-worth Jackson Hole second-home and trophy-resort hospitality investment.
What construction debt is available in Wyoming right now?
Multifamily construction is most active in the Cheyenne 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.