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CRE Loan Applications See Uptick Following Sluggish Q3

Decelerated by sluggish activity on the investment sales front, commercial real estate loan volume slowed in the third quarter, CBRE said in reporting the results of its latest Lending Momentum Index. However, a rise in loan applications recently is a promising sign for higher year-end closings.

“Stabilized multifamily continues to receive strong support from the agencies, while banks and life companies continue to underwrite lower leverage multifamily, industrial and selective office transactions,” said Brian Stoffers, global president of debt & structured finance for capital markets at CBRE. “Retail and hotel properties, as well as those properties with transitional issues, remain challenging to underwrite.”

He added, “One promising sign has been the re-emergence of quotes from alternative lenders in recent weeks, a source of capital for value-add properties and distressed situations.”

Banks gave up market share in Q3, capturing 39% of loan closings compared to more than 70% in Q2.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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