In-depth analysis of recent commercial lending activities in Springfield, MO, reveals a robust landscape marked by the successful conclusion of 112 loans within the last 90 days. These transactions span a wide financial spectrum, ranging from $46,400.00 to an impressive $200,000,000.00. Notably, the highest loan amount was extended for an office property.
Springfield’s commercial lending scene demonstrates significant diversity in the types of properties financed. The prevalent property types include Retail (13 deals), Residential Condo (30 deals), Mixed Use (6 deals), Parking, Misc, and Single Family Residence (3 deals each), Apartments (9 deals), General Commercial (1 deal), Hotel, Industrial, Medical Services, Office, and Utilities (2 deals each).
Leading the pack among Springfield’s active commercial lenders are industry giants Cadence Bank and Arvest Bank, jointly closing 31 deals in the past 90 days, showcasing impressive loan amounts ranging from $120,000.00 to $1,740,000.00.
Analyzing the lending landscape by property type reveals a nuanced distribution. The most prevalent investment properties are Residential Condos, accounting for 30 deals, followed closely by Apartments with 9 deals. General Commercial, Industrial, and Single Family Residence each secured 7 deals, demonstrating a well-rounded lending portfolio.
The loan amounts reflect the diverse nature of Springfield’s real estate market. The highest loan, amounting to $4,300,300.00, was facilitated for a Hotel property, while Residential Condos secured loans ranging from $36,000.00 to $1,740,000.00. Other notable deals include General Commercial properties with loans ranging from $150,000.00 to $4,300,300.00, showcasing the versatility of Springfield’s commercial real estate market.
Credit Unions and Community Banks dominate Springfield’s lending landscape, offering Loan-to-Value (LTV) ratios ranging from 70% to 65%. The prevailing interest rates fall within the range of 6.73% to 7.02%, with National Banks demonstrating the capacity to extend substantial loans of up to $70M or even $150M, providing competitive terms with an approximate 1% origination fee.
In summary, Springfield’s commercial lending sector, led by Cadence Bank and Arvest Bank, showcases a dynamic and diverse landscape, reflecting the city’s vibrant real estate market. The distribution of loans across various property types and the involvement of key financial institutions underscore the resilience and growth potential of Springfield’s commercial real estate sector.
