--- title: Most Active CRE Financing Sources By Property Type description: This CRE financing snapshot summarizes real estate financing trends, highlighting the most active lenders for different property types. image: https://m.insigniafs.com/hubfs/Imported_Blog_Media/Capital-Markets-Update-02262024-Facebook-Post-1.png --- [Skip to content](https://m.insigniafs.com/cre-finance-insights/most-active-cre-financing-sources-by-property-type#main-content) ![INSIGNIA 002B67 2023 (200X74 px) Trans](https://m.insigniafs.com/hs-fs/hubfs/INSIGNIA%20002B67%202023%20(200X74%20px)%20Trans.png?width=200&height=74&name=INSIGNIA%20002B67%202023%20(200X74%20px)%20Trans.png) Open main navigation Close main navigation - [Contact us](https://insigniafs.com/contact/) [Contact us](https://insigniafs.com/contact/) Mar 28, 2024 1:38:40 PM # Most Active CRE Financing Sources By Property Type [John Morelli](https://m.insigniafs.com/cre-finance-insights/author/john-morelli) Share: [facebook-f icon](http://www.facebook.com/share.php?u=https://m.insigniafs.com/cre-finance-insights/most-active-cre-financing-sources-by-property-type) [linkedin-in icon](http://www.linkedin.com/shareArticle?mini=true&url=https://m.insigniafs.com/cre-finance-insights/most-active-cre-financing-sources-by-property-type) [Twitter icon](https://twitter.com/intent/tweet?url=https://m.insigniafs.com/cre-finance-insights/most-active-cre-financing-sources-by-property-type) [envelope icon](mailto:?body=https://m.insigniafs.com/cre-finance-insights/most-active-cre-financing-sources-by-property-type) ##### Key Findings: - **Government Agency Funding Increased:** Government agencies became a more significant CRE financing source, rising from 19% in 2022 to 26% in 2023. This is closer to the pre-pandemic average (2015-2019) of 23%. - **Regional Banks Remain Strong:** Regional and local banks continue to be a major player, financing 26% of all deals in 2023. This is still higher than the pre-pandemic average of 17%. Notably, they were the leading lender for office (37%), industrial (33%), retail (35%), hotels (36%), and senior housing (37%). However, their involvement in multifamily financing remains lower (13%). ##### Breakdown by Lender Type and Property Type: | ##### Property Type | ##### Regional Banks | ##### National Banks | ##### International Banks | ##### Insurance Companies | ##### Government Agencies | ##### CMBS | ##### Investor-Driven | ##### Private/Other | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Office | 37% | 12% | 13% | 11% | N/A | 12% | 12% | <5% | | Industrial | 33% | 12% | 9% | 24% | N/A | 11% | 10% | <5% | | Retail | 35% | 12% | N/A | 13% | N/A | 25% | 17% | <5% | | Hotel | 36% | 8% | 9% | N/A | N/A | 21% | 17% | <5% | | Multifamily | 13% | N/A | N/A | N/A | 58% | N/A | N/A | <5% | | Senior Housing | 37% | N/A | N/A | N/A | 29% | N/A | 13% | <5% | ##### Loan Size and LTV (Loan-to-Value) Ratio by Lender Type: | Lender Type | Average Loan Size | Average LTV | | --- | --- | --- | | Government Agencies | $18.9 million | 60.5% | | CMBS | $21.7 million | 55.7% | | International Banks | $16.7 million | 62.1% | | National Banks | $12.9 million | 62.6% | | Regional & Local Banks | $6.6 million | 66.4% | | Investor-Driven | $16.3 million | 68.3% | | Insurance Companies | $20.0 million | 58.9% | ##### Key Takeaways: - **Government Agencies** dominate financing for [multifamily](https://insigniafs.com/multifamily-loans/) (58%) and senior housing (29%). - **Regional/Local Banks** are the most active lenders across all property types except multifamily, offering a significant share (over 33%) in each category. They also provide the smallest average loan size ($6.6 million). - **CMBS (Commercial Mortgage-Backed Securities)** are prevalent in retail (25%) and hotels (21%). - **Investor-Driven** financing plays a role in hotels (17%) and [senior housing](https://insigniafs.com/healthcare/) (13%). - **National Banks & Insurance Companies** have a consistent presence across property types, but not the majority share in any single category. **Additional Notes:** - The table excludes loan details for “Private/Other” due to their small contribution. - “N/A” indicates the data source doesn’t provide a specific percentage for that category. 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[Read more](https://m.insigniafs.com/cre-finance-insights/cre-capital-markets-placement-services) [![](https://m.insigniafs.com/hs-fs/hubfs/Imported_Blog_Media/SBA-PN-Update-12062023-Facebook-Post-1.png?height=200&name=SBA-PN-Update-12062023-Facebook-Post-1.png)](https://m.insigniafs.com/cre-finance-insights/sba-update-for-business-acquisitions) [CRE](https://m.insigniafs.com/cre-finance-insights/tag/cre), [development](https://m.insigniafs.com/cre-finance-insights/tag/development) ## [SBA Update for Business Acquisition Loans](https://m.insigniafs.com/cre-finance-insights/sba-update-for-business-acquisitions) [John Morelli](https://m.insigniafs.com/cre-finance-insights/author/john-morelli) Dec 8, 2023 1:32:22 PM Latest SBA Procedural Notice to benefit some business acquisition financings. On December 6, 2023... 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