A thorough analysis of recent commercial lending activities in Portland, ME, showcases a vibrant market marked by the successful closure of 144 loans in the past 90 days. Transactions range from $100,000.00 to an impressive $52,604,000.00, with M&T Bank leading the way, securing the highest loan amount for a Retail Property.
The property types financed in Portland reflect considerable diversity, including Single Family Residence (55 deals), Residential Condo and Residential – Duplex/Triplex/Quadplex (44 deals), Retail (8 deals), Vacant – Commercial (2 deals), Motels, and Office (3 deals each), Industrial (3 deals), General Commercial (10 deals), and Apartments (10 deals).
JP Morgan Chase, Velocity Mortgage Capital, Lima One Capital, Regions Bank, and RCN Capital are at the forefront of Portland’s active commercial lenders, known for their nationwide leadership in financing commercial real estate (CRE) properties. Community and Regional Banks are primary contributors to the most funded deals, offering competitive origination fees ranging from 0.75% to 1%, depending on loan size, property type, and Loan-to-Value (LTV) ratio.
A notable highlight is the competitive interest rate offered by US Bank for Multifamily Products, starting at 6.85%. This rate underscores the professionalism and competitiveness within Portland’s commercial lending sector, emphasizing a commitment to diverse financing options and transparent lending terms.
Portland’s commercial lending market remains dynamic, with an average loan amount of $1.17M. Local Community Banks and nationwide leaders, including TD Bank NA, Academy Mortgage Corporation, Bank of America, JP Morgan Chase, and US Bank, offer a range of commercial real estate lending products to support the region’s diverse economic landscape.
