
Newmark Closes $726M in Commercial Mortgages
San Francisco-based Newmark Realty Capital reported it completed $726 million in commercial real estate mortgages during 3Q 2017, and will exceed $2 billion in total volume during 2017 for the sixth year in a row. The company closed 80 unique transactions.
Active property types during the third quarter include multifamily, office, retail and self storage assets, with the company’s Phoenix, San Francisco and Los Angeles production offices showing the highest transaction volumes during the period.
Newmark’s Robert Slatt says, “Commercial mortgage lending continues to be healthy in 2017, with rates remaining at historic lows compared to the projected increases anticipated earlier this year.”
The independent commercial mortgage banking firm notes a growing use of life insurers for construction financing is emerging as banks face new limitations that limit their ability to fund new construction loans.
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