CRE Lending in Florida Evolves in Response to the Pandemic

Commercial real estate lending is still quite active in the South Florida market, but terms have changed as lenders take a more conservative approach, says Jordan Simler, who heads up Valley Bank’s South Florida CRE lending efforts.

Valley Bank did $412 million in loans for area CRE projects last year, and has loaned $160 million since the start of 2020, with its funding spanning a wide range of sectors. As examples, its work over the past 18 months has included a $7.8 million refinancing of Delray Beach’s Peachtree Plaza, a $10.5 million loan for a new Plantation self-storage facility, and a number of sizable loans to condo homeowners associations making upgrades to their facilities.