June 13 The amount of U.S. commercial real
estate loans outstanding topped $3 trillion for the first time
ever at the end of the first quarter of 2017, the Mortgage
Bankers Association said on Tuesday.
Commercial and multifamily mortgage debt outstanding rose by
$37.6 billion to $3.01 trillion in the first quarter, a 1.3
percent gain from the fourth quarter of 2016, the
Washington-based industry group said.
“Almost two-thirds of the growth came from increases in
multifamily mortgage debt outstanding," MBA's vice president of
commercial real estate research Jamie Woodwell said in a
Mortgages on apartment buildings rose by $23.4 billion, or 2
percent, to $1.17 trillion in the first quarter from the
preceding quarter, MBA said.
It was unclear whether the apartment loan growth would
persist in the coming months. Government data showed multifamily
construction fell for a fourth straight month in April to an
annualized rate of 337,000 units.
(Reporting by Richard Leong; Editing by Meredith Mazzilli)