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South Florida

Multi-family lending fell 40 percent in 2009

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Multi-family lending declined sharply between 2008 and 2009, according to the Mortgage Bankers Association’s annual multi-family lending report, released today. Developers nationwide secured $52.5 billion in loans for new apartment buildings in 2009, marking a 40 percent decline from the dollar amount loaned in 2008. In total, 2,725 different lenders financed projects in 2009, according to the report. The top five lenders — in terms of dollar value lent — were Wells Fargo, PNC Real Estate, Deutsche Bank Commercial Real Estate, CBRE Capital Markets and Capmark Financial Group. TRD

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