Banks accounted for 43% of loan closings by non-agency lenders in Q4, up 18% from the previous quarter and 40% from a year ago.
Banks are still lending, but they're doing so with increased caution. As a result, alternative lenders are gaining momentum.
More than 450 CMBS loans worth $12.3B in debt were issued in June, more than twice the value of CMBS issuances in any other month this year.
The lending market for commercial real estate remains bullish going into Q4 and 2018. The rise of nonbank and private lending has bolstered borrower confidence.
Philadelphia's multifamily demand has outpaced growth. As the city continues to expand, borrowers are turning to lenders to help finance a variety of projects.
New regulation, known as Basel III Endgame, is requiring banks to hold significantly higher capital in their reserves, restricting them from lending.
Free multifamily rents and the disruption of brick-and-mortar retail are changing the way New York City lenders are funding the two asset classes.
Trez Capital has spent 22 years providing debt financing to unique projects, often when traditional lenders are unwilling to take the risk.
Alternative financing is no longer a last-ditch effort for CRE borrowers. The past few years have seen a marked rise in lending volume across nonbank platforms.
This year was one of one of ups and downs for CRE. From more conservative banks to rising interest rates, here is what shaped the 2017 lending landscape.
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