How did Multifamily investments do during the GFC ?

[Louie Pullen]

Im struggling to find historical Multifamily Foreclosure data. I was recently at the Intelligent Investors Real Estate Conference here in Los Angeles, and a syndicator told me that during the last financial crisis national multifamily defaults were <5% .   Is this possible ? I would of thought that number to be much higher.

Also, for members who lost money in Multifamily during that time, what happened? Too high LTV?Inexperience sponsers?Vacancies?lower rents?