McLEAN, VA-CBRE Capital Markets, NorthMarq Capital and Berkadia Commercial Mortgage were the highest-producing multifamily mortgage sellers of 2011 for Freddie Mac, with the firms completing $4.13 billion, $2.14 billion and $1.68 billion in deal volume, respectively. Following these lenders were Wells Fargo Multifamily Capital, at $1.49 billion, HFF at $1.43 billion and CWCapital, which posted $1.41 billion in transactions.
All together, Freddie Mac reports, last year it purchased more than $20 billion in loans through these and other lenders. Or, to break down Freddie’s multifamily activity last year using other metrics: its financing volume touched 312,000 rental units and resulted in $14 billion in securitizations.
Freddie also sliced and diced its data by region. In the Northeast, KeyCorp Real Estate Capital, based in Boston, clocked in as the top lender, with $575 million. In the Southeast, the honors went to Atlanta-based CWCapital, with $949 million. HFF in Dallas took the top spot in the Central region, with $476 million in multifamily deals. In the West, it was PNC Bank, based in Calabasas Hills, CA, with $451 million.
The top in targeted-affordable housing for 2011 was Citibank, with $461 million in deals, followed by Wells Fargo Multifamily Capital at $315 million.
KeyCorp Real Estate Capital was the top conventional structured-transactions organization, with $334 million. The top seniors-housing provider was Wells Fargo Multifamily Capital, at $162 million. Beech Street Capital also got a nod from Freddie Mac, receiving a partnership award for its 800% increase in volume over the previous year.
David Brickman, senior vice president of Freddie Mac Multifamily, called it an outstanding year. For its part, Freddie is trying to make its lending partners’ job easier. At the start of 2012, Brickman said that the GSE planned to tweak several of its products, such as its floating-rate offerings.
The goal, he said, is to make these a little more competitive and simpler to use. Brickman also said the GSE would work on improving early rate-lock execution—a product that had been introduced at the end of 2011.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
