Market Insights

The Countries That Help Finance NYC Commercial Real Estate

 

Germany is the country that serves as home base for the top foreign commercial real estate originators in New York City, CrediFi found in a recent analysis of NYC lending that CrediFi CEO Ely Razin presented at a big data conference in Tel Aviv this week.

Deutsche Bank, which was the top CRE originator in New York City in 2016 as well as in Q2 of this year, drove Germany to the top spot in the 18 months from January 2016 to June 2017, the period on which the analysis is based.

(See the NYC Lending Spotlight for Year-End 2016 and Q2 2017.)

Other countries whose lenders provided commercial property financing in NYC in this period include France (led by French insurer AXA), the United Kingdom (HSBC), Canada (TD Bank), Spain (Banco Santander), South Korea (Kiwoom Asset Management) and Israel (Bank Leumi).

“Israel, and its economy and its banks, are deeply exposed to New York,” Razin said at this week’s Mind the Data conference in Tel Aviv. “Israel is exposed, the institutions here are exposed, but with the help of data and technology, partly provided by CrediFi, people are able to manage risk differently and to exploit opportunities as well.”

Israel’s Bank Leumi originated over $1 billion in commercial real estate loans in New York City from January 2016 to June 2017, including construction loans. Israel Discount Bank was the second-largest Israeli lender, originating just under half that amount.

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