Commercial real estate lending picked up major steam in the third quarter, in a trend that parallels a similar uptick in property acquisitions.
CBRE reports that the pace of closings of commercial loans it originated in the third quarter is up 31.6% over June figures and up 29.1% from February 2020. Its overall index is up by 135% over its pandemic low in September 2020.
The percentage of loans carrying full or partial interest-only terms exceeded 61%, and CBRE notes that underwritten cap rates and debt yields were lower.
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