Despite increased development and rising acquisition volumes, the banking industry remains cautious on 2015 commercial real estate loan production. Increased competition has led to tremendous liquidity in the market, and bank lending has also been constrained by a greater sense of discipline than past peaks. National Real Estate Investor reports that non-bank financial institutions such as Blackstone and Starwood are expanding their presence in the market, a trend that is expected to continue and further impact traditional lenders. The high level of multifamily construction (and therefore lending) should be a benefit going forward. [NREI]
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