In the past 90 days, Albuquerque’s commercial lending landscape has seen a robust activity of 416 closed loans, averaging $1.14 million per transaction. The top lenders, comprising nationwide leaders like First Citizens Bank, US Bank, Bank of America, BMO Harris Bank, Flagstar Bank, and OakTree Funding Corp, collectively closed 34 commercial real estate (CRE) deals, with an average loan amount of $1.85 million.
Local Albuquerque lenders, alongside national and community banks, played a significant role in the active lending scenario. Construction, permanent, and rental loans were widely offered, showcasing the versatility of financial products available in the market. Among the diverse range of investment properties financed, the highest loan amount of $15 million was attributed to a vacant residential property.
An analysis of property types reveals a varied distribution of deals:
– Single Family Residence: 37 deals
– Vacant – Residential: 20 deals
– Misc: 2 deals
– Industrial: 4 deals
– Educational: 1 deal
– Multi-Family: 10 deals
– Apartments: 6 deals
– Office: 4 deals
– Retail: 6 deals
– Motels: 2 deals
– Manufacturing: 2 deals
– Storage: 1 deal
– Services: 1 deal
– Residential Condo: 2 deals
– General Commercial: 1 deal
– Medical Services: 1 deal
The lending landscape in Albuquerque offers competitive rates, with the best starting at 6.78% for the Multi-Family Rental product offered by a regional bank. The transactions span across various locations, highlighting the city’s dynamic real estate market.
