Opportunity to strike a deal proved diverse last year as the top 10 list of lenders is a mixed bag of traditional banks, insurance companies and agency lenders.
J.P. Morgan Chase & Company tops the list as the largest conventional multifamily lender last year by making more than $15 billion in loans, according to a report released Tuesday.
The company made 6,497 loans in 2013 at an average loan size of $2.5 million, according to the Mortgage Bankers Association. The smaller loan size reflects the success of the company's Commercial Term Lending unit, which it acquired in 2008 in its purchase of Washington Mutual.
Wells Fargo, ranked No. 2, made more than $14 billion in loans for multifamily deals last year while CBRE Capital Markets came in third with $7.4 billion in loans through 328 deals last year.
Wells also led the charge for lending in 2011 and 2012.
Top 10 Multifamily Lenders of 2013
Rank, Company: Volume / Number of Loans / Average Size
1. J.P. Morgan Chase & Company: $15.940 billion / 6,497 loans / $2.5 million 2. Wells Fargo: $14.655 billion / 2,342 loans / $6.3 million
3. CBRE Capital Markets, Inc.: $7.402 billion / 328 loans / $22.6 million
4. KeyBank: $7.324 billion / 351 loans / $20.9 million
5. Berkadia: $6.702 billion / 508 loans / $13.2 million
6. PNC Real Estate: $6.592 billion / 297 loans / $22.2 million
7. Prudential Mortgage Capital Company: $6.350 billion / 289 loans / $22 million
8 Walker & Dunlop, LLC: $5.050 billion / 422 loans / $12 million
9. New York Life Investments: $2.524 billion / 51 loans / $49.5 million
10. Greystone: $2.481 billion / 373 loans / $6.7 million
Lindsay Machak is an Associate Editor for Multifamily Executive. Connect with her on Twitter @LMachak.
