Last year, multifamily lenders provided a total of $195.1B in new mortgages for five-plus-unit apartment buildings, a 13% increase from 2013, the Mortgage Bankers Association reported.
The lending came from a range of lenders (2,876, to be exact), with two-thirds making five or fewer loans. The borrowing also came from a range of borrowers, with more than one-quarter being for $500k or less. The greatest share of those mortgages went to commercial bank, thrift and credit union portfolios.
"The market has continued to expand this year and shows every sign of breaking last year's record," MBA VP of Commercial Real Estate Research Jamie Woodwell says.
The top five multi lenders of last year were JPMorgan Chase, Wells Fargo, CBRE Capital Markets, Walker & Dunlop and PNC Real Estate.