• Blog
  • Retail
  • Who’s Playing the Retail Lending Game (and Who’s on the Bench)

Who’s Playing the Retail Lending Game (and Who’s on the Bench)

Stories about the retail downturn are everywhere. More than 3,000 stores have declared bankruptcy in 2017, and the year isn’t even half over. There’s a similar downturn in retail lending: In New York City, retail lending decreased more than 30% from 2015 to 2016, excluding retail condos and mixed-use properties.

While this may seem to show a decisive, market-wide shift away from retail financing, the picture is more complex than it first appears.

Several lenders have decreased their overall retail lending in New York City. Retail origination by Bank of America dropped 89% in the Big Apple, year over year, to $125 million in 2016. Goldman Sachs issued $115 million in NYC retail lending in 2016, down 80% from the previous year.

Among foreign lenders, Bank of China’s year-over-year retail lending in NYC dropped 96%, to $15 million in 2016. U.S. Bank issued $582 million in retail lending in 2015, almost all of which went to a loan on the 1.1 million-square-foot Manhattan Mall. However, in 2016 U.S. Bank’s NYC retail lending was negligible. Neither Metlife nor Credit Agricole did any retail lending in NYC in 2016.

Now that you know who’s sitting out this inning of the retail lending game, let’s take a look at who has picked up the slack. JPMorgan increased its retail lending 54%, to $427 million, and Natixis increased its lending to $130 million, a jump of 211% from 2015 to 2016. United Overseas Bank financed $290 million in retail loans in New York City in 2016, 143% more than in 2015, though its NYC commercial real estate lending dropped overall.

Stay tuned to see what 2017 holds for retail lending — but the wave of bankruptcies we’ve seen so far this year may not herald good news.

(The data in this article come from a CrediFi analysis of $180 billion in 2015 and 2016 commercial real estate financing, with retail loans indicating loans containing at least one retail property. Properties designated as mixed-use were not included as retail loans, and data on commercial condos is limited.)

Close Menu

Book your personalized
CRE data consult today.

Gain access to CRE finance data on 6M properties & 4M loans.

Request a CrediFi
demo today.

Gain access to CRE finance data on 6M properties & 4M loans.

Request a CrediFi
demo today.

Gain access to CRE finance data on 6M properties & 4M loans.

We track over
10,000 CRE lenders.
What data would
you like to demo?

Request a CrediFi
demo today.

Gain access to CRE finance data on 6M properties & 4M loans.

Request a CrediFi
demo today.

Gain access to CRE finance data on 6M properties & 4M loans.

Request a CrediFi
demo today.

Gain access to CRE finance data on 6M properties & 4M loans.

Request a CrediFi
demo today.

Gain access to CRE finance data on 6M properties & 4M loans.

Request a CrediFi
demo today.

Gain access to CRE finance data on 6M properties & 4M loans.

Book your personalized
CRE data consult today.

Gain access to CRE finance data on 6M properties & 4M loans.

Book your personalized
CRE data consult today.

Gain access to CRE finance data on 6M properties & 4M loans.

Request a CrediFi
demo today.

Gain access to CRE finance data on 6M properties & 4M loans.

Discover new opportunities.
Speak with a CredifX representative today.

Increase your lending opportunities.
Speak with a CredifX representative today.

Demo our up-to-date
ownership & contact
information.

We track finance data
on all U.S. markets.
Which market's CRE data
would you like to demo?

We track over
10,000 CRE lenders.
What data would
you like to demo?

Request a CrediFi
demo today.

Gain access to CRE finance data on 6M properties & 4M loans.

Request a CrediFi
demo today.

Gain access to CRE finance data on 6M properties & 4M loans.

Find the lenders who
give you the best terms –
not just the ones you
already know.

Gain access to CRE finance data on 6M properties & 4M loans.

Secure the financing
you need.

Request a CrediFi
demo today.

Gain access to CRE finance data on 6M properties & 4M loans.

Book your personalized
CRE data consult today.

Gain access to CRE finance data on 6M properties & 4M loans.

View Madison Realty
Capital's lending profile,
documenting recent loan,
owner and property information.

How would you like
your CRE data
delivered?

Demo our up-to-date
lender, owner & contact
information.

Demo our up-to-date loan,
ownership & contact
information.

Book your personalized
CRE data consult today.

Gain access to CRE finance data on 6M properties & 4M loans.

Request a CrediFi
demo today.

Gain access to CRE finance data on 6M properties & 4M loans.

Book your personalized
CRE data consult today.

Gain access to CRE finance data on 6M properties & 4M loans.

Alex Veksler

Head of Content

Alex Veksler has 16 years of finance, data analysis and project management experience. He is a former vice president at Morgan Stanley, where he worked on product control of equity and fixed-income derivatives products as well as various projects involving finance and technology, such as revamping risk attribution and balance-sheet systems for profits and losses. Alex has previously worked at hedge funds, most recently as a director at Exigent Capital. He has a bachelor’s in computer science from Yeshiva University and an MBA from New York University.

Ely Razin

CEO

Ely Razin founded CrediFi in 2014 with Battery Ventures. A rare combination of seasoned corporate executive and technology entrepreneur, Ely previously served as global head of board governance for Thomson Reuters Accelus and head of business law for Thomson Reuters, after the software company he founded was acquired in 2004. The company, Expert Ease Software, developed AI-based software that automatically summarizes key deal terms for transactions in fields including capital markets, M&A and real estate. Ely began his career as a corporate and securities lawyer, and holds an LLB and MBA from York University.

Frank Muhlon

Head of Transactions

Frank Muhlon oversees CredifX, the commercial real estate financing marketplace that mines the CrediFi database at its core. Prior to joining CrediFi, Frank served as vice president of Northeast region business operations for online CRE property trading platform Ten-X, which has closed over $40 billion in transactions since its inception. He has also held key positions at Orix USA/Houlihan Lokey, Silverstein Properties and Trammell Crow Company. Frank received his master’s degree in real estate finance from New York University and his bachelor’s in finance from Rutgers University.

Charles Mctiernan

Head of Sales

Charles Mctiernan comes to CrediFi from Ned Davis Research Group and Roubini Global Economics, where he was the global head of sales. He also spent more than 10 years at Reuters America Holdings, where he held a number of senior sales leadership roles, including head of solutions sales and head of global accounts. Charles, who received his bachelor’s in economics from East Carolina University, has more than 25 years of experience in technology, data and research sales.

Amichai Levy

VP R&D

Amichai Levy is the former VP of R&D at Israeli high-tech firm Payoneer, where he developed its signature cross-border payment platform and integrated it with existing bank technology. In his prior role at Ness Technologies, Amichai was a key player in developing an electronic case filing system for Israel’s courts. He has over 20 years of experience in software engineering.

David Fajgman

Head of Finance

David Fajgman brings over 14 years of financial and managerial experience to CrediFi. Prior to joining the CrediFi team, he served as finance director of Bioness Neuromodulation Ltd., which develops and manufactures medical devices involved in neurological rehabilitation. He has previously worked in multiple finance roles at Thomson Reuters and as an accounting and consulting manager at Ernst & Young, where he was responsible for a wide range of clients, including companies listed on the Nasdaq and privately held high-tech companies. David is an Israel-licensed certified public accountant and has a bachelor’s degree in business and accounting.

Liat Bar David

Head of Human Resources

Liat Bar David has over nine years of human resources experience, primarily focused on the high-tech industry. She is a former HR business partner at semiconductor solutions provider Broadcom, where she was responsible for onboarding processes, benefits, policies, training and development, performance management and employee retention. Liat holds a bachelor’s in communication and human services and a master’s in human resources and services, both from the University of Haifa.