2024 Top Commercial Mortgage Banking and Brokerage Firms
Find out which firms lead CPE’s annual ranking.
You can also read our other Mortgage Banking Firms rankings.
Includes all originations, as an intermediary or a direct lender, between 10/01/2022 and 09/30/2023.
Financing Types: D=Debt, E=Equity, H=Hybrid, X=Other
Property Sectors: O=Office, I=Industrial, R=Retail, M=Multifamily, Ho=Hospitality, He=Health care, X = Other
Though we make every effort to include all major commercial lenders, several notable firms (among them JLL, Bank of America, KeyBank, JPMorgan Chase, Wells Fargo, PNC, Northmarq, Bellwether and Eastdil Secured) did not participate this year.
To be included in upcoming rankings, email Agota Felhazi at [email protected].
CRE Lending Activity Slows Amid Higher Rates
Higher interest rates and economic uncertainty reduced the availability of financing and shrunk commercial lending volumes in 2023.
As the Federal Reserve consistently increased interest rates, commercial lending started pulling back in the second half of 2022 and continued to slow through 2023. According to the Mortgage Bankers Association’s Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations report, total originations for all major property types were 49 percent lower in the third quarter of 2023 compared to the same period in 2022. The report indicates a 52 percent decrease for hotel properties, 51 percent for retail real estate, 49 percent for office loans, and a 35 percent decrease for industrial properties in the third quarter of 2023 compared to a year prior.
All 20 companies in CPE’s 2024 Top Commercial Mortgage Banking and Brokerage Firms ranking also reported negative growth in loan originations from the previous year, with an average drop of 40 percent. However, despite the decline in lending activity, our highest-ranked firms saw relatively strong activity.
CBRE again landed the top spot in this year’s ranking based on a combination of factors. It recorded more than $35 billion in loan originations from October 2022 through September 2023, the highest in terms of volume. The firm offered debt, equity, hybrid and other types of financing across several sectors, including office, industrial, retail, multifamily, hospitality and others. While last year’s market was slower than in previous years, CBRE recently predicted that capital market activity will stabilize in 2024.
—Claire Spadoni, Senior Research Analyst, Yardi Matrix
Methodology
The 2024 CPE Top 20 Commercial Mortgage Banking and Brokerage Firms ranking utilized self-reported data for all companies. Our ranking is calculated using a weighted formula based on a variety of factors, including total origination volume, coverage offered, growth in transaction volume and loan positioning, among others. The ranking represents what we feel is a logical balance between firm growth and market share, as well as sector diversity or specialization. Ranking factors are not limited to the data on this page.
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