In the past 90 days, Manchester, NH, has experienced a robust commercial lending environment with a total of 278 loans closed, averaging around $500,000 per loan. The most active lenders in the region include M&T Bank / M&T Realty Capital Corporation, Franklin Savings Bank ME, Eastern Bank, Citizens Bank NA, TD Bank NA, Bank of America, Enterprise Bank, and Leader Bank, collectively closing 34 deals.
Local Manchester lenders, credit unions, and community banks are particularly active, offering a range of loans, including construction, SBA loans, permanent, and rental loans. These institutions provide competitive terms, with the best interest rates starting at 6.85% and an origination fee of 0.5%.
The lending activity in Manchester is widely spread across various property types. A detailed analysis of recent transactions reveals the following distribution:
– **Industrial:** 7 deals, with a total loan amount of $5.6 million.
– **Mobile Homes:** 2 deals, with a total loan amount of $79,000.
– **Single Family Residence:** 49 deals, with a total loan amount of $34.3 million.
– **Parking:** 1 deal, with a total loan amount of $7.18 million.
– **Retail:** 4 deals, with a total loan amount of $354,816.
– **Hotel:** 1 deal, with a total loan amount of $7.18 million.
– **Miscellaneous:** 4 deals, with a total loan amount of $917,318.
– **General Commercial:** 1 deal, with a total loan amount of $312,500.
– **Residential Condo:** 10 deals, with a total loan amount of $1.33 million.
– **Services:** 1 deal, with a total loan amount of $495,000.
– **Apartments:** 14 deals, with a total loan amount of $13.9 million.
– **Recreation:** 1 deal, with a total loan amount of $172,500.
– **Educational:** 2 deals, with a total loan amount of $1.25 million.
– **Vacant – Commercial:** 1 deal, with a total loan amount of $4.35 million.
– **Office:** 2 deals, with a total loan amount of $700,000.
– **Mixed Use:** 2 deals, with a total loan amount of $1.57 million.
– **Government:** 1 deal, with a total loan amount of $427,500.
This diverse lending landscape reflects the vibrant economic activity in Manchester, with lenders supporting a wide range of real estate ventures across the city.
