April 12, 2017 Comments Off on Newmark Quarterly CRE Loan Production Hits $517M Views: 471 California News, National News, West

Newmark Quarterly CRE Loan Production Hits $517M

San Francisco-based Newmark closed $517 million of commercial mortgages across 62 unique transactions in Q1 2017. Leading the production volume was Phoenix, AZ and Newport Beach, CA, with multifamily, industrial and self-storage assets the most prevalent property types.

Newmark’s Michael Heagerty notes deals are getting done despite the Fed’s incremental boosting of interest rates. “Short of a shock to the system we are in a good, stable financing environment, where buyers, owners or developers are taking advantage while they can.” he said.

Heagerty says investors are “repositioning properties with an eye to selling to take advantage of the cycle, indicating from past experience that we are nearing the top of the current market.”

Correspondent life insurer finance sources were responsible for the greatest percentage of loans placed by Newmark. Bridge lenders are becoming more active, though CMBS production remains at all time lows.

Read more at Business Wire

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