MBA Study Names PNC Real Estate Top Multifamily Lender in 2008

By Anuradha Kher, Online News EditorWashington, D.C.–PNC Real Estate was the top multifamily originator in 2008, followed by Wachovia, Capmark Financial Group, Wells Fargo and Deutsche Bank Commercial Real Estate. PNC made $8,130 million in loans while Wachovia made $6,882 million and Capmark Financial Group Inc. made $6,547 597, according to the Mortgage Bankers Association’s latest study. Eight different companies topped the 11 lists reporting originations by investor groups:•    Capmark Financial Group as the top originator for Freddie Mac, FHA/Ginnie Mae, and specialty finance; •    Bank of America for commercial banks/savings institutions and conduits; •    MetLife Real Estate Investments for life insurance companies;    •    PNC Real Estate for Fannie Mae;    •    KeyBank Real Estate Capital for REITS, mortgage REITS, investment funds; •    TIAA-CREF for pension funds; •    GE Real Estate for credit companies; and    •    Wells Fargo for other investors. The survey released the top originators for commercial/multifamily loans. Bank of America and Wells Fargo were at the top of that list. Other originators in the top 10 include PNC Real Estate; Holliday Fenoglio Fowler L.P.; Wachovia; GE Real Estate; Capmark Financial Group Inc.; CBRE | Melody; Deutsche Bank Commercial Real Estate; and KeyBank Real Estate Capital. By dollar volume, the top five intermediaries in 2008 were Holliday Fenoglio Fowler, L.P., CBRE | Melody, Wells Fargo, NorthMarq Capital, and PNC Real Estate. The top five lenders were Bank of America, Wells Fargo, Wachovia, PNC Real Estate and GE Real Estate.