New York, L.A. and Chicago All Have Different Vibes, and So Do the CRE Lenders Active in Those Markets

Fast-walking New Yawkers stereotypically sidestep hordes of tourists gawking at tall buildings, for instance, while Angelenos have been typecast as chilled embracers of beach yoga hoping for their big break. It turns out that cities like New York, Los Angeles, Chicago and Boston don’t just give off different vibes. Their properties also tend to attract different types of lenders. CrediFi examined the top 20 originators of commercial real estate loans in each of these markets over the course of 2017. These four cities are alike in the sense that U.S. national banks such as Morgan Stanley, JPMorgan Chase, Wells Fargo and Goldman Sachs are responsible for the largest segment of loans from the top 20 originators, originating about 40 percent to 50 percent of those loans in each of these markets. But once we looked beyond the big national banks, we discovered that each of these cities is dominated by a different type of lender.