In 2011, more than $184 billion in commercial and multifamily mortgage loans was originated, according to the Mortgage Bankers Association.
This represents a 55% increase in origination volumes from last year, when $118.8 billion was created.
A record-high was reached among Fannie Mae, Freddie Mac and the Federal Housing Administration who were responsible for originating $57.6 billion of last year's $184.3 billion total, the most among investor groups. Life insurance companies and pension funds saw the second highest volume with $49.3 billion.
Multifamily properties accounted for the greatest origination volume in terms of property types with $77.4 billion, while office properties made up $34.4 billion of originations. First liens represented 93% of the total dollar volume closed, the MBA said.
Meanwhile, lending for retail properties experienced the largest percentage increase among the major property types, followed by multifamily and industrial properties.
“Commercial mortgage lending continues to rebound from its 2009 lows,” said Jamie Woodwell, MBA's vice president of commercial real estate research. “With interest rates still low and stability returning to real estate fundamentals, the rebound is expected to continue in 2012.”
