As we approach the end of 2013, commercial real estate lenders are eager to find out whether they have reached or exceeded their goals in providing funding for real estate transactions. According to the Commercial Observer, one thing is certain: CMBS investment bankers have exceeded last year’s output, yet it is not certain if the Wall Street shops will reach a $100 billion in gross lending. There are also the traditional savings and commercial banks, mortgage REITs, private equity funds and insurance companies, as well as new players in town who joined and/or increased their volume of financing this year.
The Commercial Observer reports New York Capital markets, the preliminary U.S. investment sales volume of the third quarter of 2013 registered $76 billion, up 29 percent year over year, as volume growth in office, retail and industrial offset the decline in apartments. CMBS new issuance of $65 billion so far for 2013 compares to $48 billion for all of 2013 and includes $17 billion issued during the third quarter of 2013. As a whole, commercial real estate investment and financing has been positive this year, and lenders can breathe a sigh of relief knowing their 2013 goals were either met or surpassed.
For the full article from the Commercial Observer, click here.