Multifamily Borrowers Beating a Path to Banks
Multifamily Borrowers Beating a Path to Banks
Apr 22, 2014 - CRE News
Bankers appear to be of two minds when it comes to the hot multifamily market. Many are lending aggressively while demand is strong, while some say they are starting to back off a little because of the intense competition for business.
Multifamily construction has remained strong in major markets across the country, according to bankers discussing their first quarter performance, including such major markets as New York, the Mid-Atlantic, Atlanta, Chicago, Dallas and San Francisco.
Bankers across other regions of the country also reported loan demand growth as well. After not seeing its commercial real estate loan total grow in more than four years, Regions Financial Corp., a bank holding company in Birmingham, AL, said its CRE portfolio grew in the first quarter this year by $242 million, with 40% of that growth attributed to multifamily originations. And it expects to continue that growth throughout the year.
Full article: Multifamily Borrowers Beating a Path to Banks