The top originator of commercial real estate loans in Los Angeles in the first six months of this year was Bank of America, which originated over $1 billion for three dozen loans during that period, CrediFi found in its Los Angeles Lending Spotlight for H1 2017.
Bank of America’s financing included a $288 million acquisition loan for the office building Wilshire Palisades at 1299 Ocean Ave. in Santa Monica, which is owned by Santa Monica-based Douglas Emmett Realty and the Qatar Investment Authority.
The report’s findings are based on a sample of $12 billion in loan originations for Los Angeles County commercial properties in the first six months of the year.
Bank of America was also a top 10 CRE loan originator in Chicago in the same period, originating over $250 million in the Windy City in the first half of the year.
In Los Angeles, U.S. national banks made up four of the top five CRE loan originators. Commercial real estate finance company Walker & Dunlop was the top non-bank L.A. originator in the first half of the year, originating over $850 million for two dozen multifamily loans.