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MBA: Multi-family Lending Roared back in 2011

by devteam October 5th, 2012 | Share

Multi-family lending increased dramaticallyrnin 2011 according to a report released by the Mortgage Bankers Associationrn(MBA) today.  Perhaps more important, thernlending activity was not only larger but was also broad based.  </p

There was a total of $110.1 billion inrnnew mortgages granted for apartment buildings with five or more units duringrn2011, a 60 percent increase over lending in 2010. The loans came from 2,653rndifferent multifamily lenders and while the largest two lenders by dollar volumernwere those one might expect – Wells Fargo, and JP Morgan Chase, 72 percent ofrnthe loans came from lenders who made five or fewer such loans during thernyear.  MBA said the other lenders in therntop five by dollar volume were CBRE Capital Markets, PNC Real Estate, andrnBerkadia. </p

“The $110 billion ofrnborrowing and lending backed by multifamily apartment buildings in 2011 wasrnmore than double the amount of just two years earlier,” said Jamie Woodwell,rnMBA’s Vice President of Commercial Real Estate Research. “The growth is arntestament to the improvements in both the underlying multifamily propertyrnmarkets and the broader capital markets.”

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About the Author

devteam

Steven A Feinberg (@CPAsteve) of Appletree Business Services LLC, is a PASBA member accountant located in Londonderry, New Hampshire.

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