TD Bank’s CRE team closes more than $5bn in loans in 2015

TD Bank announced this week that its Commercial Real Estate (CRE) Group closed more than 300 financing transactions totaling $5.1 billion in 2015.

Like its peers, the bank foresees continued growth in the commercial real estate lending sector

TD Bank announced this week that its Commercial Real Estate (CRE) Group closed more than 300 financing transactions totaling $5.1 billion in 2015.

“Steadily improving economic conditions have supported continued demand for commercial real estate financing, particularly in the housing sector,” said Gregg Gerken, head of US Commercial Real Estate Lending at the bank.

640px-TD_Bank,_Chinatown,_DC_by_Matthew_BisanzThe team also closed 35 transactions totaling more than $626 million in commitments through its lending commitment for low-income housing tax credits, new markets tax credits, and 80/20 financing.

Gerken noted that the bank’s most recent CFO Survey found that more than a quarter of respondents anticipate allocating capital to new facilities in 2016.

“We’re excited to be a part of this growth and look forward to partnering with companies to provide flexible financing solutions to meet their commercial real estate needs,” he said, which echoes a recent poll from the ABA.

The ABA poll found that, despite ongoing regulations that have deterred banks on high-risk commercial real estate (HRCRE) lending, a majority of banks (82 percent) plan to increase capital concentrations in the sector. 

Of 136 participating banks surveyed, 51 percent said they planned to increase both CRE and construction loans; 30 percent said they’d increase CRE loans only; 18 percent said neither; and just 1 percent said they would increase construction loans only.

Last year TD Bank appointed Donald Mincey and Carlos Perez to lead its lending division in Florida as part of its expansion. The bank added lenders Mario Facella, Sean Dunne and G. Alex Haw, and credit managers C. Kyle Moore, Stephanie Remigio, Gus Varona and Gina Rodriguez, to back the duo.

TD Bank is one of the 10 largest banks in the US, providing more than 8 million customers with a full range of retail, small business and commercial banking products.

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