However, Woodwell stressed that growth among property types still varied.
Broken down by property types, there was an 866% annual increase in the dollar volume of loans for hotel properties, a 317% increase for retail properties, a 156% increase for industrial properties, a 105% increase for multifamily properties, a 102% increase for office properties, and a 45% increase for health care property loan originations.
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Among investor types, the dollar volume of loans originated for investor-driven lenders (REITs, specialty finance, credit companies, and others) rose by 319% year-over-year in Q3. Commercial bank portfolio loans (+232%), life insurance company loans (+175%), commercial mortgage-backed securities loans (+125%), and government-sponsored enterprises loan originations (+15%) followed.
“Among capital sources, nearly every major group – including CMBS, banks, life companies, and investor-driven lenders – is lending well above 2020 levels, with life companies and investor-driven lenders also exceeding their 2019 year-to-date volumes. The one exception is the GSEs (Fannie Mae and Freddie Mac), whose conservator limited their loan purchase volumes this year.”