September 20, 2015 Who are Boston’s top lenders?
Insurance companies constituted four of the top 10 lenders in Boston through late July, with New York Life Insurance Company heading the pack with $168 million in loans.
Most of that went toward a one-floor industrial building at 100 Cambridge Street in the high-income Charlestown neighborhood, the address listed for Acme Bookbinding Company. New York Life issued a $135 million loan for the property in March.
The other three insurance companies that played a large role in Boston lending this year are John Hancock Life Insurance Co., which issued $100 million in Boston loans this year, Union Labor Life Insurance Company ($78 million) and Prudential Insurance Company of America ($47 million).
But the top three Boston lenders were all banks, led by Column Financial, a subsidiary of Credit Suisse First Boston. Column Financial’s top spot is entirely due to the $815 million loan it issued for Courtyard Boston Downtown, a 315-room Marriott on Tremont Street.
The second and third top lenders for Boston this year are Citibank, with $225 million in loans, and Bank of America, with $190 million.