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Commercial Lending Activity in U.S. Increases in Q2

Commercial Lending Activity in U.S. Increases in Q2


According to research from CBRE, commercial real estate lending activity gained traction in the second quarter of 2019 following a brief pause at the start of the year amid financial market volatility.

The CBRE Lending Momentum Index, which tracks the pace of commercial loan closings in the U.S, reached a value of 244 in June--up 2.3% from March's close. Compared with a year ago, lending growth is 20.8% above its June 2018 close.

CBRE's lender survey indicated that life company lenders had another strong quarter in Q2 2019, accounting for 26% of non-agency commercial mortgage closings--up from 21% a year ago. Banks continued to lead the four major lender categories, accounting for 35% of loan closings.
 
"Our survey of life company lenders indicates that all are actively quoting deals and most have robust pipelines. These lenders are quoting both fixed- and floating-rate deals, with LTVs up to 65%. Many life companies are also providing higher LTVs on select deals through higher-yielding structured loan products," said Brian Stoffers, Global President of Debt & Structured Finance for CBRE Capital Markets.

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