National Cooperative Bank Originates $746 Million for Real Estate Loans in 2016
Arlington, VA (January 27, 2017) — National Cooperative Bank (NCB), a leading financial institution committed to serving cooperatives nationwide, reported $746 million in real estate lending during 2016. The Bank arranged more than $577 million in financing for housing communities, $160 million in new loans for 771 individual unit owners and $9 million for other commercial real estate projects across the country.
“We are thrilled we were able to play such an important role in providing loans to commercial and residential real estate properties throughout the country”, said Casey Fannon, Chief Lending Officer for NCB. “Our mission of serving housing communities and their members with banking solutions is critical to our success and we thank all of our customers for their continued business.”
Cooperative Building Loan Highlights for New York:
Of the $577 million originated for housing associations in 2016, $504 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.