Multifamily Loans Jump 33%; Office Construction and Health Care Funding Dips

ORLANDO-This may be a recession but there’s plenty of money available for commercial and multifamily financing, the Mortgage Bankers Association of America reported to 4,000 attendees at the 12th annual Commercial Real Estate Finance/Multifamily Housing Convention at the Walt Disney World Dolphin Resort.

Commercial and apartment loan originations in 2001 totaled $73.8 billion, a 19% increase over the $62 billion posted in 2000. Multifamily properties, as industry analysts had predicted, accounted for 48% of the record loan volume. In 2000, multifamily loans were 43% of the total.

Overall originations are up sharply. In 2000, the number was $11.2 billion in Q1; $13.8 billion in Q2; $14.3 billion in Q3 and $22.8 billion in Q4. In 2001, originations totaled $15 billion in Q1; $17.7 billion in Q2; $18.7 billion in Q3; and $22.5 billion in Q4.