The previous year was a bit challenging for both borrowers and lenders across the spectrum, whether it was financing single-family homes, large houses, commercial, or mixed-use projects.
Needless to say, interest rates have all possible reasons to increase further in the future, and today looks different from a year ago.
If you’re a savvy investor, business owner, or entrepreneur looking to secure financing for your commercial real estate ventures, this guide is your ultimate resource.
Commercial real estate lending plays a vital role in turning ambitious visions into reality, and choosing the right lender can make all the difference.
In this post, we will highlight the top commercial real estate lenders of 2023, showcasing their key features, loan offerings, and success stories.
Whether you’re seeking funds for acquisitions, refinancing, or development projects, join us as we explore the crème de la crème of the commercial real estate lending industry.
Get ready to unlock opportunities and make informed decisions that will shape your financial future!
Our Top 10 Commercial Property Lenders of 2023
|Rank||Company||Total Origination Volume ($MM) *||Growth From Previous Year||Financing Types Offered||Sectors Financed|
|1||CBRE||$78,212.7||16%||D, E, H, X||O, I, R, M, Ho|
|2||KeyBank||$58,000.0||23%||D, E, H||O, I, R, M, He, X|
|3||Newmark||$58,153.8||53%||D, E||O, I, R, M, Ho, He, X|
|4||Walker & Dunlop||$53,611.0||26%||D, E||O, I, R, M, Ho, X|
|5||Berkadia||$42,619.4||24%||D, E, H||O, I, R, M, Ho, He, X|
|6||Cushman & Wakefield||$29,752.0||59%||D, E, H||O, I, R, M, Ho, He, X|
|7||Northmarq||$25,000.0||39%||D, E||O, I, R, M, Ho, He, X|
|8||Greystone||$18,400.0||11%||D, E, H||M, He, X|
|9||Bellwether Enterprise||$14,236.7||41%||D, E, H||O, I, R, M, Ho, He, X|
|10||Arbor Realty Trust||$13,700.0||-9%||D, H, X||M, X|
* Includes all originations as an intermediary or a direct lender between 10/01/2021 and 09/30/2022.
For better understanding, here are some acronyms used in the table:
Financing Types: D = Debt, E = Equity, H = Hybrid, and X = Other
Sectors Financed (Property Sectors): O=Office, I=Industrial, R=Retail, M=Multifamily, Ho=Hospitality, He=Health care, and X = Other
CBRE is a globally recognized real estate service and investment firm operating as a top commercial real estate lender.
It’s the country’s largest brokerage firm with a total origination volume of $78.2 billion, which makes a 16% growth from the previous year.
And if we talk about its types of financing, then it offers a wide range of financing options like debt, equity, hybrid, and others.
They provide competitive loan terms and tailored solutions and prioritize strong client relationships.
CBRE’s reputation, global presence, and commitment to exceptional service make them a standout choice as a top commercial real estate lender of 2023.
KeyBank, a prominent commercial real estate lender and one of the top players in the industry, takes second place due to its hefty origination volume of $58 billion, which is an increase of nearly 23% in growth from the previous year.
Multifamily finance comprises the bulk of KeyBank’s finance portfolio, but the lender does get involved with the occasional mixed-use, office, retail, industrial property, multifamily, health care, and others.
With a deep understanding of market dynamics, they offer a wide range of financing solutions for various sectors, including office, retail, industrial, multifamily, hospitality, and healthcare.
KeyBank prioritizes client relationships, providing tailored financing packages and a streamlined process.
Their focus on sustainability and track record of successful transactions solidify their position as a top commercial real estate lender of 2023.
Our third-place commercial real estate lender of 2023 is Newmark.
Newmark is a leading commercial real estate lender and a top player in the industry. With a strong market presence and extensive expertise, it offers a range of financing solutions to meet the needs of borrowers.
It’s easy to see how it took the top spot just from a glance at the numbers, $58.2 billion in commercial loan originations. Also, its growth is exceptional, increasing by 53% year over year.
The firm provides a wide array of commercial property services to virtually every asset type across the country.
Services include property management, leasing services, valuation and advisory services, and logistics services — not to mention its capital markets activity.
They specialize in financing various commercial real estate sectors, including office, retail, industrial, multifamily, hospitality, healthcare, and others.
Newmark’s commitment to exceptional client service, combined with its deep industry knowledge, positions them as a trusted and reliable choice for commercial real estate financing in 2023.
4. Walker & Dunlop
Walker & Dunlop is a leading commercial real estate lender that stands out as a top player in the industry.
Though Walker & Dunlop may be one of the best-known firms in multifamily finance, it also originates loans for a range of commercial properties, from office to retail.
The firm started in 1937 — one of the oldest on our list — providing FHA-insured loans to single-family homebuyers.
Today, Walker & Dunlop operates close to 40 offices across the country, employing upwards of 900 employees.
In 2022, its reported originations volume was $53.6 billion, a healthy 26% increase over the year.
With their extensive experience and expertise, they provide a range of financing solutions to support borrowers in the commercial real estate market.
Specializing in sectors such as office, retail, industrial, multifamily, hospitality, and others, Walker & Dunlop offers tailored financing options to meet diverse client needs.
Their dedication to client satisfaction and reputation as a reliable lender solidify their position as a top commercial real estate lender of 2023.
Berkadia is another top leading commercial real estate lender.
It successfully secured its well-deserved fifth position in the list as its expertise extends across various commercial property types.
Barkadia has all good reasons to be on the list, and one of the recent reasons is that it recently achieved a significant milestone by successfully completing a $113 million refinancing transaction for a prestigious Class A office building in Miami.
It clearly showcases Berkadia’s impressive performance, as evidenced by a remarkable 24% increase in originations, reaching a total of $42.6 billion in 2022 compared to the previous year.
And another impressive thing is Berkadia’s diversified portfolio, which further reinforces its standing in the industry.
It specializes in different sectors and provides tailored financing options to meet their unique needs. These sectors include office, retail, industrial, multifamily, hospitality, and healthcare.
6. Cushman & Wakefield
Cushman & Wakefield is a leading commercial real estate lender and a standout choice among the top lenders in the industry for 2023.
With originations reaching nearly $29 billion in the past year, their growth story is remarkable, with a substantial 59% increase in volume compared to the previous year.
Originating as a property management company in New York City in 1917, Cushman & Wakefield has expanded its reach and is now actively involved in various property sectors across major global markets, spanning from Argentina to Vietnam.
Their services cover diverse sectors such as office, retail, industrial, multifamily, hospitality, and healthcare.
Northmarq, a key commercial real estate lending player, operates in the esteemed Pohlad Companies consortium.
They offer a comprehensive range of advisory services, including debt and equity placement.
Since its establishment in 1962, Northmarq has grown significantly, now operating approximately 30 offices nationwide with a dedicated team of 600 employees.
Their exceptional performance is evident, having originated a remarkable $25 billion in loans between October 2021 and September of the following year, showcasing an impressive annual growth rate of nearly 39%, according to Commercial Property Executive’s data.
Northmarq’s commitment to excellence and ability to meet borrowers’ diverse needs solidify its reputation as a trusted lender in the industry.
Greystone also secures its position as a top commercial real estate lender in 2023.
Along with its remarkable organizational volume, it reported $18.4 billion and an impressive 11% growth from the previous year. It offers financing solutions and specializes in providing to various sectors like multifamily, healthcare, and more.
And with these remarkable numbers, Greystone continues demonstrating its strong market presence.
Greystone has gained a good reputation in the commercial real estate landscape from its unbeatable commitment to excellence, combined with its ability to serve the distinct requirements of borrowers.
9. Bellwether Enterprise
Bellwether Enterprise is next in the top commercial real estate lender in the 2023 list.
As a trusted and reliable lender, Bellwether Enterprise plays a significant role in the commercial real estate market, making them a top choice for borrowers in 2023.
It’s quite evident how it took the top spot just from a glance at the numbers, i.e., $14.2 billion that it disclosed its organizational volume. Not only that, but its growth is also exceptional, increasing by 41% compared to the previous year.
They have a strong understanding of market dynamics and offer various financing options for different sectors, including office spaces, retail properties, industrial complexes, multifamily, hotels, healthcare, and others.
And the types of financing it offers are debt, equity, and hybrid.
Their extensive knowledge and experience enable them to navigate complex transactions and meet the unique needs of borrowers.
10. Arbor Realty Trust
Arbor Realty Trust, a leading commercial real estate lender in 2023, stands out with its key features and notable analytics.
They offer diverse financing solutions for sectors such as multifamily and others.
Specializing in different property types, they provide tailored financing options that align with specific project requirements.
It has achieved a significant loan origination volume, reflecting its ability to attract borrowers and fund commercial real estate ventures.
Their strong industry relationships and extensive network contribute to identifying promising investment opportunities.
With a total origination volume of $13.7 billion, experiencing a notable 9% downfall from the previous year, it still secured the tenth position in top Commercial Real Estate Lenders of 2023.
Arbor Realty Trust offers financing types: debt, hybrid, and others.
Overall, Arbor Realty Trust’s success is driven by its versatility and specialization, making them a trusted choice for commercial real estate financing.