A review of recent commercial lending activities in Bridgeport, CT, reflects a dynamic landscape characterized by the successful closure of 72 deals within the preceding 90 days. The breakdown of these transactions underscores a focus on various property types, with notable concentrations in General Commercial, Industrial, Multi-Family, Office, Retail, Single-Family Residences (SFRs), Condos, and Residential-Duplex/Triplex/Quadplex, totaling 63 transactions.
At the forefront of Bridgeport’s commercial lending sector are dynamic financial entities, including Credit Unions, Community Banks, and Debt Funds. Noteworthy contributors such as Bank of America, Velocity Mortgage Capital, JP Morgan Chase, and Conventus maintain an active presence, offering a diverse range of Commercial Real Estate (CRE) products.
The average loan amount in Bridgeport stands at a significant $474,000, reflecting the diverse scope of financed transactions. The largest loan funded during this period reached an impressive $1,680,000.
Interest rates vary among lenders, with Community Banks offering competitive rates in the low 7s. Debt Funds, known for their flexibility, present a rate spectrum ranging from 6.05% to 11.04%. This range of rates demonstrates the dynamic nature of the commercial lending market in Bridgeport.
In summary, the commercial lending landscape in Bridgeport is characterized by the active participation of Credit Unions, Community Banks, and Debt Funds, with major financial institutions contributing to the city’s diverse and vibrant environment. The average loan amount and varied interest rates further emphasize the dynamic and professional nature of Bridgeport’s commercial real estate sector.