Crittenden Report: Real Estate Financing each month. You will … · Thank you for downloading our...

13
Thank you for downloading our information packet for our Real Estate Finance Memberships. As part of your membership you will receive two issues of The Crittenden Report: Real Estate Financing each month. You will also have complete access to our online directory which includes real estate lenders, investors, and buyers. The directory features contact information for the people you need to contact to make your next deal happen. Contact information includes titles, phone numbers, and email addresses. The directory allows you to search by Location, Finance Type, and Property Type. Also included in our memberships is 20% off our Crittenden Conferences. To get more information on our conferences, please visit http://www.crittendenconferences.com/ To receive more information on a membership: Please call (619) 393-1800 or email [email protected] Or buy now at: https://realestate.crittendenonline.com/products/real-estate-finance-membership

Transcript of Crittenden Report: Real Estate Financing each month. You will … · Thank you for downloading our...

Page 1: Crittenden Report: Real Estate Financing each month. You will … · Thank you for downloading our information packet for our Real Estate Finance Memberships. As part of your membership

Thank you for downloading our information packet for our Real Estate Finance

Memberships. As part of your membership you will receive two issues of The

Crittenden Report: Real Estate Financing each month. You will also have complete access

to our online directory which includes real estate lenders, investors, and buyers. The

directory features contact information for the people you need to contact to make

your next deal happen. Contact information includes titles, phone numbers, and email

addresses. The directory allows you to search by Location, Finance Type, and

Property Type. Also included in our memberships is 20% off our Crittenden

Conferences. To get more information on our conferences, please visit

http://www.crittendenconferences.com/

To receive more information on a membership:

Please call (619) 393-1800 or email [email protected]

Or buy now at:

https://realestate.crittendenonline.com/products/real-estate-finance-membership

Page 2: Crittenden Report: Real Estate Financing each month. You will … · Thank you for downloading our information packet for our Real Estate Finance Memberships. As part of your membership

Quotation not permitted. Material may not be reproduced in whole or in part in any form whatsoever. Copyright © 2018 Crittenden Research Inc.

The CRITTENDEN ™ REPORT®

Real Estate Financing

The Nation’s Leading Report on Real Estate Finance

Crittenden Research, Inc. P.O. Box 635107 San Diego CA 92163 Customer Service: (800) 421-3483 Vol. 44, No. 11 June 4, 2018 INDUSTRIAL SEES CUTTHROAT COMPETITION Count on an increase in demand and tons of liquidity for industrial properties. Many lenders are underweight in their portfolios, so there will be plenty of capital but not enough available product. Borrowers will see fierce competition from lenders who will become more aggressive with terms in order to win deals. Rates will be in the low 4% range, even dipping down to 3.5% for the best deals. Floating rates will start at Libor-plus 125 to 175 basis points. Lender fees will hover in the 0% to 0.5% range. Borrowers will see 65% to 75% leverage, although LTV will generally be below 65% due to the high valuations. Debt yield will start at 9% to 10%. DSC will start at 1.25x to 1.30x. Watch for lenders to take leasing risk in order to win deals. This could mean funding an empty or partially leased building with additional collateral, financing a high-quality warehouse with only one tenant that only has a few years until the lease expires or providing several years of interest only in order to compete. There will also be a push toward more spec industrial loans this year. Life companies such as New York Life, MetLife, Principal Real Estate Investors, PGIM, Lincoln Financial Group, John Hancock, State Farm, Thrivent Financial for Lutherans, Hartford Investment Management, Allianz Real Estate of America, National Life, Genworth, Nationwide, Allstate and Great-West Financial will be some of the most active lenders in the space. LCs will provide sub-70% leveraged deals. Borrowers will like life companies that can lock rates up front and offer some of the best pricing in the market. Many life insurance companies will be comfortable with single-tenant warehouse buildings in major markets but back away from the more highly improved industrial product. Anticipate banks such as BofA, BB&T, BBVA Compass, SunTrust Bank, Opus Bank, Associated Bank, Fidelity Bank, Bank of Oklahoma, EverBank, Bank of the West, Inland Bank & Trust, Applied Bank, Washington Trust Company and BofI Federal Bank to fund industrial loans this year. Bank rates will start at 3.5%. CMBS lenders, including JP Morgan Chase, Deutsche Bank, Wells Fargo, Citi, Goldman Sachs, Morgan Stanley, Barclays, KeyBank, UBS, Silverpeak Argentic, Basis Investment Group, LoanCore Capital, Starwood Mortgage Capital, CIBC and Rialto Capital Management will also pick up industrial markets share. Count on conduits to push leverage to 75%. Look for longer interest-only terms from CMBS lenders going forward. Warehouse and distribution buildings with minimal office build-out (less than 30%), multiple tenants, staggered lease expirations and unit sizes greater than 5,000 s.f. will be the most sought after. Class A assets with long-term tenants will be preferred. Tenants with strong historical and financial backings will be desired. Lenders will not mind special-use industrial assets, as long as there is an appropriate lease term. Many will be comfortable taking the rollover risk on single-tenant warehouse buildings, particularly if the building is newer with specifications that are in high demand by most users (clear height, loading, parking, sprinkler system, etc.) Count on lenders to become increasingly less concerned about the remaining lease term when financing warehouse distribution buildings in strong, infill markets with high demand and low vacancy. The remaining lease term and tenant quality will need to be longer and/or better if a building has a higher build-out or if it is located in secondary or tertiary markets. Watch for lenders to underwrite a higher loan per square foot given rent growth and competition for industrial loans. Anticipate most portfolio lenders to underwrite a general vacancy rate and a replacement reserve. Continued on Page 4

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Page 2 The Crittenden Report®  

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BANKS COUNT ON BUSY SECOND HALF (2018 PROJECTED ORIGINATION VOLUME AND PREFERENCES)

BANK VOLUME DETAILS

Associated Bank $2B Funded $700M YTD; $10M+ loans for multifamily, retail, office, industrial; 75% leverage, less than five-year terms; markets within the bank’s footprint

Bank of Oklahoma (BOKF) $1.2B $500M in commitments YTD; $3M-$35M loans for industrial, workforce multifamily housing, neighborhood grocery-anchored retail, office; 65%-70% leverage; 30-day Libor+ 250-350 basis point spread; up to seven-year terms; full to limited recourse; 1.25x+ DSC; average debt yield of 10%+; OK, TX, AR, AZ, NM, KS, MO, CO

Opus Bank $1.16B Perm; $230M Bridge

$1M-$20M loans for multifamily, MHC, office, retail, industrial, self storage, MOB; Perm: up to 75% LTV for multifamily, up to 70% for other properties; 10- to 15-year balloon, non recourse available; Bridge: up to 75% LTV, 85% LTC for multifamily; up to three-year terms with extensions; recourse required; Seattle, Portland, Ore., Phoenix, Northern and Southern CA

EverBank $1B Funded $400M YTD; $2M-$40M loans for office, MOB, industrial, flex, retail, multifamily; 70% average LTV; three- to 10-year terms; fixed and floating rates; non recourse; interest-only options, step down prepayment; top 100 MSAs

Washington Trust Company $300M Gross $108M including construction commitments YTD; $2M-$20M loans for all properties except special use; 65% average LTV; Libor+ 175-250 basis points with swap on fixed and floating rates; 1.20x-1.40x DSC; 8%-12% debt yield; New England

Country Bank $200M Funded $57M in Q1; $1M-$10M loans for mixed-use, multifamily, owner-occupied assets; up to 75% LTV; one- to seven-year terms; recourse and non recourse available; 1.20x DSC; fixed and floating rates indexed to the Prime rate; Manhattan, Brooklyn, Bronx, Queens, and Westchester, N.Y.

Fidelity Bank $150M-$175M $1M-$12M loans for multifamily, self storage, MHC, industrial, office, owner-occupied; 250-350 basis points over Swap; up to 75% LTV/LTC; three-, five-, seven-, 10-year terms; up to 25-year amortization; non recourse available on select projects under 65% LTV

Acclivity Financial $120M Funded $48M YTD; $250K-$5M loans for owner-occupied commercial deals, all SBA eligible assets; 80%-85% LTV; 25-year term and amortization; full recourse; 1.25x DSC; nationwide

Applied Bank $40M Funded $5M YTD; up to $15M loans for hotels, office, multifamily, construction, site development, residential; 75% average LTC/LTV; recourse typically required; DE, Southeast PA, Southern NJ, Eastern Shore MD, national hotels considered

MUFG Union Bank TBD $1M-$10M loans for industrial, MHC, multifamily, office, retail; 75% LTV; 1.20x DSC; three-, five-, seven- and 10-year terms, then float to 30 years, 15/15-year loans also available; CA, OR, WA

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Money360

Ladera Ranch, CA

Money360, Incorporated

Bridge Lender,Hard Money,Private Lender

TOTAL ASSETS:

ESTIMATED MORTGAGE PORTFOLIO: $600M

PRODUCTIONTOTALS

DOLLARVOL

# OFLOANS

2017 $358M

2016 $150M

Minimum Loan: $1M

Maximum Loan: $20M

Typical Rates: 7.50%­9.50%

Typical Amort: Interest Only

Recourse Required:

SUBMISSION FACTSPreferred DSC: 1.05

Preferred LTV: 75%

Typical Fee: 2%

Typical Loan Length: 17­ to 36­month terms

Broker Submission: No

TERRITORYNationwide

TYPE(S) OF FINANCINGAcquisition,Bridge Loan,First Mortgage,Fixed­Rate Mortgage,Hard Money

PROPERTY TYPE(S)Affordable Housing,Flex Buildings,Healthcare,Hotel,Industrial Building/Warehouse,Manufactured Home Communities,Mixed Use,Multifamily,Office,R&D/Bio Science,Retail,Retail(Anchored),Retail (Single Tenant),Retail (Triple Net Leased),Self Storage,Senior Housing,Special Purpose Properties,Student Housing

NOTES

https://www.money360.com/CONTACTS

NationwideGary BechtelPresident999 Corporate Drive Suite 110 Ladera Ranch CA 92694

West RegionKen GaitanRegional Director­Western999 Corporate Drive Suite 110 Ladera Ranch CA 92694

Western RegionMatt RogersRegional Director­West999 Corporate Drive Suite 110 Ladera Ranch CA 92694

Northwest RegionDavid ChristensenRegional Director­Northwest999 Corporate Drive Suite 110 Ladera Ranch CA 92694

Notheast RegionKen WoodRegional Director­Northeast999 Corporate Drive Suite 110 Ladera Ranch CA 92694

Southeast RegionGreg SchecherRegional Director­Southeast999 Corporate Drive Suite 110 Ladera Ranch CA 92694

Midwest RegionStratos Athanassiades

Regional Director­Midwest999 Corporate Drive Suite 110 Ladera Ranch CA 92694

Midwest RegionTom BelsantiRegional Director­Midwest999 Corporate Drive Suite 110 Ladera Ranch CA 92694

Mountain RegionFred BarrowRegional Director­Mountain999 Corporate Drive Suite 110 Ladera Ranch CA 92694

Southwest RegionNicolas JansRegional Director­Southwest999 Corporate Drive Suite 110 Ladera Ranch CA 92694

Southwest RegionMark HuntonRegional Director­Southwest999 Corporate Drive Suite 110 Ladera Ranch CA 92694

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New York Life

New York, NYNew York Life Real Estate InvestorsNew York Life Insurance Co.

Life Company

TOTAL ASSETS:

ESTIMATED MORTGAGE PORTFOLIO:

PRODUCTIONTOTALS

DOLLARVOL

# OFLOANS

2018 $6.25B

2017 $5.3B

Minimum Loan: $25M

Maximum Loan: $250M

Typical Rates:

Typical Amort:

Recourse Required:

SUBMISSION FACTSPreferred DSC: 1.35

Preferred LTV: 65%

Typical Fee:

Typical Loan Length:

Broker Submission: Yes

TERRITORYNationwide

TYPE(S) OF FINANCINGBridge Loan,Construction/Perm,Fixed­Rate Mortgage,Forward CommitmentFloating Rate

PROPERTY TYPE(S)Industrial Building/Warehouse,Mixed Use,Multifamily,Office,Retail

NOTESPreferred LTV: 55% ­ 65%

http://www.nylim.comCONTACTS

Eric BecherSenior Director51 Madison Ave. Suite 906 New York NY 10010

Rob BoydSenior Director1100 Abernathy Road N.E. Suite 1225 Atlanta GA 30328

Kirk KnissSenior DirectorOne Front St. Suite 550 San Francisco CA 94111

MIDWESTJohn HowardSenior Director303 W. Madison St. Suite 2050 Chicago IL 60606

SOUTHWESTLeslie CassinghamSenior Director4975 Preston Park Blvd. Suite 750 Plano TX 75093

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Northeast Bank

Boston, MA

Northeast Bank

Bank,Bridge Lender,SBA Lender

TOTAL ASSETS:

ESTIMATED MORTGAGE PORTFOLIO:

PRODUCTIONTOTALS

DOLLARVOL

# OFLOANS

2018 $500M

2017 $400M

Minimum Loan: $500K

Maximum Loan: $10M

Typical Rates: WSJ Prime + 1.25% to 2.75%

Typical Amort: 25 Years

Recourse Required: Negotiable

SUBMISSION FACTSPreferred DSC: 1.15

Preferred LTV: 90%

Typical Fee: SBA fees (if applicable)

Typical Loan Length: SBA: 25 Years, Bridge: One to Five Years

Broker Submission: Yes

TERRITORYNationwide

TYPE(S) OF FINANCINGAcquisition,Bridge Loan,Refinance,Adjustable Rate Mortgage

PROPERTY TYPE(S)Flex Buildings,Gas Station,Golf Course,Healthcare,Hotel,Industrial Building/Warehouse,Marina,Mixed Use,Multifamily,Office,Parking Garage,RecreationCenter,Resorts,Restaurant,Retail,Retail (Anchored),Retail (Triple Net Leased),Self Storage,Special Purpose PropertiesAssisted Living

NOTESNortheast Bank is a nationwide SBA Preferred, USDA, & commercial real estate lender specializing in financing for acquisitions, conversions, refinances, renovations, and bridgesituations. Through our unique and agile structure, we leverage our experienced team and robust balance sheet to offer speed, certainty of execution, and creativity in getting avariety of deals done that other lenders simply cannot. LTV can reach up to 90%.

http://www.northeastbank.comCONTACTS

Nationwide SBA LendingBrad HeritageSVP, Business Development200 Berkeley St. 17th Floor Boston MA 02116

Brian FenwickManaging Director of Loan Underwriting200 Berkeley St. 17th Floor Boston MA 02116

Nationwide Bridge LendingTravis RandVP, Business Development200 Berkeley St. 17th Floor Boston MA 02116

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ORIX USA

Dallas, TXORIX

Finance Company

TOTAL ASSETS: $100B

ESTIMATED MORTGAGE PORTFOLIO:

Minimum Loan: $5M

Maximum Loan: $50M

Typical Rates: Balance Sheet Lending ­ LIBOR based, DUS/FHA ­ Fixed Rate

Typical Amort:

Recourse Required:

SUBMISSION FACTSPreferred DSC:

Preferred LTV: %

Typical Fee: Par

Typical Loan Length: Five Years

Broker Submission: Yes

TERRITORYNationwide

TYPE(S) OF FINANCINGBridge Loan,Construction Loan,Fannie Mae DUS,FHA/HUD,Joint Ventures,Mezzanine Loan,Participating Mortgage,Preferred Equity

PROPERTY TYPE(S)Flex Buildings,Hotel,Industrial Building/Warehouse,Manufactured Home Communities,Multifamily,Office,Retail,Self StorageORIX will also lend on assisted living and skilled nursing facilities.

NOTESGenerally, loans are LIBOR based with three­ to five­year terms. Orix also focuses on CBMS/structured debt, bridge to FHA/DUS, and municipal finance.

http://www.orix.comCONTACTS

Trent BrooksNational Head of Production Red Mortgage Capital 100 Bayview Circle Suite 330 Newport Beach CA 92660

Ron LawrieManaging Director of ORIX Real Estate Americas Bridge and Construction Lending1717 Main St. Suite 1100 Dallas TX 75201

CMBSCasey DeskinsDirector ­ Securitized Investments1717 Main St. Suite 1100 Dallas TX 75201

REAL ESTATE LENDINGJames DunnPresident, Head of ORIX Real Estate America 1717 Main St. Suite 1100 Dallas TX 75201

MUNICIPAL FINANCEAndrew GarveyPresident and Head of ORIX Municipal Finanace 1717 Main St. Suite 1100 Dallas TX 75201

Jim CroftChairman and Senior Managing Director10 West Broad Street 8th Floor Columbus OH 43215

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Wells Fargo

San Francisco, CAWells Fargo Bank, NAWells Fargo & Co.

Bank,SBA Lender

TOTAL ASSETS:

ESTIMATED MORTGAGE PORTFOLIO:

PRODUCTIONTOTALS

DOLLARVOL

# OFLOANS

2017 $7B

Minimum Loan:

Maximum Loan: $6.5M

Typical Rates:

Typical Amort:

Recourse Required:

SUBMISSION FACTSPreferred DSC:

Preferred LTV: %

Typical Fee:

Typical Loan Length: Seven to 25 years

Broker Submission: Yes

TERRITORYNationwide

TYPE(S) OF FINANCINGCommercial Lines of Credit,Construction Loan,Fixed­Rate Mortgage,Lines of Credit,SBANon­Recourse Commercial Real Estate Mortgages

PROPERTY TYPE(S)Condominium,Gas Station,Hotel,Industrial Building/Warehouse,Manufactured Home Communities,Mixed Use,Multifamily,Office,OwnerUser,Restaurant,Retail,Self Storage

NOTES

http://www.wellsfargo.comCONTACTS

Edward BradyVP­Small Loan ContactReal Estate Capital Markets

1000 Louisiana St. 16th Floor Houston TX 77002

Michael PfaffVPReal Estate Capital Markets301 S. College St. 12th Floor Charlotte NC 28202

Brendan BurkeVPReal Estate Capital Markets301 S. College St. 12th Floor Charlotte NC 28202

Christina LangrallVPReal Estate Capital Markets301 S. College St. 12th Floor Charlotte NC 28202

Chip BrinkmanVPReal Estate Capital Markets301 S. College St. 12th Floor Charlotte NC 28202

FL/CAROLINAS/VA/GA/TNJohn TinkeyManaging Director/Head of SoutheastReal Estate Capital Markets301 S. College St. 12th Floor Charlotte NC 28202

MidwestAJ WalkerDirector­Small Loan ContactReal Estate Capital Markets10 S. Wacker Drive 32nd Floor Chicago IL 60606

SouthwestBilly HurstManaging Director­Small Loan Contact Real Estate Capital Markets1445 Ross Ave. 48th Floor Dallas TX 75202

Duane HastingsManaging Director­Head of Origination TX, CO, WA, NM Real Estate Capital Markets1445 Ross Ave. 48th Floor Dallas TX 75202

NortheastAustin LavertyVP­Small Loan ContactReal Estate Capital Markets150 E. 42nd St. 38th Floor New York NY 10017

Daryl BookDirector­MD/DE

Real Estate Capital Markets150 E. 42nd St. 38th Floor New York NY 10017

Jon Albertell

Managing Director/Head of Northeast, Mid­Atlantic, Midwest Real Estate Capital Markets

150 E. 42nd St. 38th Floor New York NY 10017

Jeff Schor

Managing Director­NY/NJ

Real Estate Capital Markets

150 E. 42nd St. 38th Floor New York NY 10017

NY/NJJoe TufarielloManaging Director­NY/NJReal Estate Capital Markets150 E. 42nd St. 38th Floor New York NY 10017

NY/NJMichael SarkoziManaging Director­NY/NJReal Estate Capital Markets150 E. 42nd St. 38th Floor New York NY 10017

VT/CT/RI/NH/ME/PAMike PetrizziDirector­NortheastReal Estate Capital Markets150 E. 42nd St. 38th Floor New York NY 10017

Todd BarnettManaging DirectorReal Estate Capital Markets2030 Main St. Eighth Floor Irvine CA 92614

Alan FlattManaging DirectorReal Estate Capital Markets2030 Main St. Eighth Floor Irvine CA 92614

Kelly DixDirector­Small Loan/ConduitReal Estate Capital Markets2030 Main St. Eighth Floor Irvine CA 92614(415) [email protected]

CAEric SmithManaging Director­Small Loan/ConduitReal Estate Capital Markets420 Montgomery St. Floor 6 San Francisco CA 94104(415) 222­[email protected]

Northern CA, NV, OR, WA, AKBill WhalenManaging Director, Head of Northwest Origination­ConduitReal Estate Capital Markets420 Montgomery St. Floor 6 San Francisco CA 94104(415) 222­[email protected]

Pacific Northwest/AL/HI/Rocky Mtn.Courtney BoscoeSVP­Small Loan/ConduitReal Estate Capital Markets420 Montgomery St. Floor 6 San Francisco CA 94104(415) 947­[email protected]

WEST COAST: ORIGINATIONSWayne BrandtManaging Director, National Originations DirectorReal Estate Capital Markets333 S. Grand Ave. Ninth Floor Los Angeles CA 90071(213) 253­[email protected]

Trent BrownDirector­Small Loan/ConduitReal Estate Capital Markets333 S. Grand Ave. Ninth Floor Los Angeles CA 90071(213) 253­[email protected]

1  2

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Crittenden Real Estate Finance Directory We currently feature over 675 lenders and over 450 investors/buyers in our directory. That number continues

to grow as our editorial team works to add the companies you need to make your next deal. Check out some

of the companies below:

Lenders

ACORE Capital

ACRES Capital LLC

Aetna

AIG Asset Management

American Fidelity

American First Credit Union

American National

American Real Estate Partners

Banc of California

Bank of America (Merrill

Lynch)

Bank of Arizona

Bank of New Jersey

Bank of North Carolina

Bank of Nova Scotia

Bank of Oklahoma (BOK)

Berkadia

Berkeley Point Capital

Berkshire Bank

Berkshire Group

Beverly Bank and Trust

Blue Hills Bancorp (Bank)

BMC Capital

Boston Private Financial

Bryn Mawr Trust

California Bank & Trust

California United Bank

Cambridge Realty Capital

Companies

Cambridge Savings Bank

Camden National Bank

Canyon Partners Real Estate

Capital Bank Financial

Capital City Bank

Capital One

Capital One Multifamily

Finance

CCRE

Central Pacific Bank

CIGNA

CitiBank (Citigroup)

Citizens & Northern Bank

Citizens Bank

Citizens Business Bank

Columbia Bank

Community Bank System

Credit Union of Southern

California

Deutsche Bank

Ellis Equity Lenders

Emerald Creek Capital

Enterprise Bank & Trust

Envoy Net Lease Partners

FCA Partners

Federal Capital Partners

Fidelity Mortgage Lenders

First Choice Bank

First Midwest Bank

First National Bank

First Republic Bank

Great Lakes Financial

Greystone & Co., Inc.

Guardian Life

Hanover Financial LLC

HSBC Bank

Hudson Realty Capital

Hunt Mortgage Group

Inland Mortgage Capital

Interstate Hotels & Resorts

Invesco Real Estate

John Hancock

JP Morgan Asset Management

JP Morgan Chase & Co.

KeyBank Real Estate Capital

KeyPoint Credit Union

Kidder Mathews

Liberty Bank

Lowe Enterprises Investors

MetLife

Metro City Bank

Midwest Business Capital

Midwest Regional Bank

Money360

Morgan Stanley

Mutual of Omaha Bank

MutualBank

Nationwide Real Estate

Investments

Nevada State Bank

Newport Capital Advisors

Northeast Bank

NorthMarq Capital Finance

Northwestern Mutual

Omega Healthcare Investors

OneAmerica

Open Bank

Pacific City Bank

Pacific Continental Corp.

Pacific Western Bank

(PacWest)

Parkview Financial

Patch of Land

Pearlmark Real Estate

Pembrook Capital

Management

People's United Bank

PNC Real Estate

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Provident Bank, The

Provident Savings Bank

Prudential Mortgage Capital

(PGIM)

Realty Income

Republic Bancorp Inc.

Rockland Trust (Independent

Bank)

Sacramento Credit Union

Santander

SDCCU

Southside Bancshares

Starwood Mortgage Capital

Starwood Property Trust, Inc.

State Bank and Trust

Suffolk Bancorp

Sun Life

Sun National Bank

SunTrust Bank

Sunwest Bank

TD Bank

Tech CU

Terra Capital

Texan Bank

The Bancorp Bank

Tri Valley Bank

TriState Capital Bank

U.S. Bank

United Community Bank

US Metro Bank

W Financial

Wallis State Bank

Washington First Bank

Wells Fargo

Western Alliance

Zions Bank

Investors/Buyers

Agree Realty

AIC Ventures

AIG

AIMCO

American Realty Advisors

American Realty Investors

American Residential

Properties

AvalonBay

Avanath Capital

Avanti Properties

Baron Properties

Bascom Group

BayNorth Capital

Beacon Capital

Behringer

Behringer

Bell Partners

Bentall Kennedy

BentleyForbes

Bergman Real Estate

Bergman Real Estate Group

Berkshire Group

Bianco Properties

BioMed Realty

BlackRock

Blackstone

Blumberg Partners

Boston Capital

Boston Properties

BPP

Camden

Campus Advantage

Canyon Partners

Capital Automotive

Capital Senior Living

CAPREIT

Capretta Properties

Capri Investment Group

Cardinal Capital Partners

Carlson Rezidor

Carlton Strategic Ventures

Carlyle Group

CBRE Global Investors

Chartwell Holdings

Chase Merritt

Chase Properties

ColRich

Columbia Property Trust

Deutsche Asset & Wealth

Management

Devon Self Storage

DiamondRock

Digital Realty

Empire Financial

Equity Commonwealth

Equity Investment Group

Equity LifeStyle

Fairfield Residential

Farmers Insurance Group

FCP

Federal Realty

Franklin Street

Goldman Sachs

Gordon Management

Grand Equity Group

Greystar

HarborView Properties (HVP)

Health Care REIT

Healthcare Realty Trust

Independence Realty Trust

Industrial Property Trust

Inland Real Estate Group

J.P. Morgan

Kensington Realty Advisors

Keystone

Kilroy Realty

Kimco

L&L Holding

LaSalle Hotel Properties

Lexington Realty

Liberty Property

MetLife Real Estate

Investments

Morgan Properties

Morgan Stanley

National Health Investors

National Retail Properties

New Boston Fund

NorthStar

NorthStar Healthcare Income

Northwestern Mutual

One Liberty Properties

Orion Investments

Pacific Capital

This is not a complete list. To

view more lenders &

investors/buyers, subscribe

now to our Real Estate

Finance Membership.

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