Arlington, VA (February 9, 2016) — National Cooperative Bank (NCB), a financial institution committed to serving cooperatives nationwide, reported nearly $1.1 billion in real estate lending during 2015. The Bank arranged more than $694 million in financing for housing communities, $185 million in new loans for 807 individual unit owners and $177 million for other commercial real estate projects across the country.
“2015 was another great year for NCB; it successfully provided more than one billion dollars in financing to the commercial and residential real estate industry nationwide. The New York cooperative housing market in particular was one of the most active sectors,” said Casey Fannon, Executive Vice President of NCB and head of NCB’s Cooperative Housing and Commercial Real Estate Lending Group. “We are thrilled to play such an important role in providing loans to commercial and residential real estate properties throughout the country.”
Cooperative Building Loan Highlights for New York:
Of the $694 million originated for housing associations in 2015, $648 was arranged for properties in the New York metropolitan area, which boasts the largest number of cooperative housing communities in the country. This region is a key market for the Bank, which captures the majority of the market share as the leading lender.
Residential Loan Highlights:
NCB’s residential lending had another strong year originating $185 million. The West Coast lending team arranged 377 loans totaling $95.7 million; the New York office secured $50.5 million in financing for 171 unit owners; and $39 million was originated for 259 unit owners in other parts of the country.
