The biggest U.S. residential lender maintained its grip on the title of biggest commercial mortgage originator last year. A Wall Street investment banker financed more hotel loans than any other company, while the commercial real estate lending arms of The PNC Financial Services Group Inc. and Prudential Financial Inc. were among the biggest originators in several CRE categories.
Wells Fargo maintained its dominance of the commercial mortgage market, with more origination volume during 2012 than any other U.S. lender: $63.806 billion. That worked out to 8,646 loans.
The San Francisco-based company, which also originated more residential mortgages last year than any other lender, was the biggest CRE lender in 2011 with 7,767 loans originated for $60.213 billion and has been at the top of the list each year since 2009, when it closed 7,705 loans for $27.0 billion.
The ranking was compiled by the Mortgage Bankers Association in its Commercial Real Estate/Multifamily Finance Firms – Annual Origination Volumes. The full report, which is more than 300 PDF pages, is available to MBA members online for $250 and to nonmembers for $350 at www.mortgagebankers.org.
Office production totaled 2,043 loans for $9.088 billion during 2012 at Wells Fargo, making it the biggest producer in that category. Wells also dominated the multifamily market with production of 2,009 loans for $12.835 billion; the retail sector, with 1,223 loans closed for $6.006 billion; and the industrial property category, with 2,201 loans funded for $3.992 billion. Wells ranked No. 2 among hotel property lenders.
With 910 commercial mortgages originated for $27.515 billion, Bank of America Merrill Lynch grabbed the overall second spot in 2012. BofA wasn’t listed in the 2011 report, and details about its lending by property type wasn’t included in the report.
The third-biggest CRE originator last year was HFF LP, where 932 CRE loans of all types were originated for $25.841 billion. Despite losing the No. 2 ranking it held in 2011, HFF boosted production from the previous year’s 710 loans funded for $20.627 billion.
PNC Real Estate came in fourth overall last year with 869 loans originated for $21.658 billion. PNC was the third-biggest originator of loans to finance office buildings, retail properties and industrial properties. It was the fifth-biggest multifamily originator and took fourth place among hotel lenders.
After that was Meridian Capital Group LLC, which closed 3,350 loans for $20.321 billion — landing it in the No. 5 position overall.
No. 6 overall was CBRE Capital Markets Inc., which was the second-biggest multifamily lender.
The seventh-biggest overall originator was Prudential Mortgage Capital Co. — which was the fourth-biggest office originator, the fifth-biggest originator of retail property loans and the second-biggest industrial loan lender. Prudential was the top funder of health care property mortgages.
No. 8 overall KeyBank Real Estate Capital closed the fourth-most industrial property loans and the second-most healthcare loans.
Jones Lang LaSalle took the ninth overall spot, and No. 10 Walker & Dunlop had enough multifamily production to rank it No. 3 in that category.
MetLife Real Estate Investors was the second-biggest generator of office property loans, the third-biggest hotel loan originator and the fifth-biggest industrial property loan lender.
Northwestern Mutual ranked No. 5 among office property loan originators..
Berkadia was the fourth-biggest multifamily originator.
In financing for retail properties, Goldman Sachs took the second spot and New York Life Investments was No. 4. Goldman was additionally the biggest originator of mortgages secured by hotel properties.
RBS came in fifth for the hotel category.
Among health care property lenders, Lancaster Pollard Mortgage Co. was No. 3, Red Mortgage Capital LLC. was No. 4 and Love Funding rounded out the top five.
