Top 10 Commercial Real Estate Lenders of 2024

In 2024, the commercial real estate lending landscape featured a mix of traditional financial institutions and specialized firms. Based on data available up to March 2025, here are some of the leading commercial real estate lenders:

1. Newmark: Secured the top spot by providing loans totaling more than $48.4 billion during the 12 months ending

2. CBRE: With a global presence, CBRE provided $34.7 billion as both a direct lender and intermediary during the same period.

   
   

3. Walker & Dunlop: Originated more than $26.6 billion in loans, focusing primarily on the multifamily sector.

   
   
   
   

4. Berkadia: Closed nearly $23.6 billion in financing, marking a 6% year-over-year increase despite market turbulence.

   
   

5. Greystone: A top Fannie Mae, Freddie Mac, and HUD lender, Greystone originated $11.4 billion during the surveyed period.

   
   

6. Northmarq: Despite challenging conditions, Northmarq originated approximately $9.2 billion during the 12 months ending in September 2024.

   
   

7. Cushman & Wakefield: The global commercial real estate services firm provided $8 billion in loans, with significant activity in the industrial sector.

   
   

8. Marcus & Millichap: Through its financial arm, Marcus & Millichap Capital Corp., the firm provided approximately $7.3 billion in loans during the surveyed period.

   
   

9. Merchants Capital: Provided $6.3 billion in loans, achieving a 7.9% year-over-year increase in origination volume.

   
   

10. Arbor Realty Trust Inc.: A nationwide REIT and direct lender, Arbor provided more than $5.5 billion during the 12 months ending in September 2024.

    
    
    
    

These rankings are based on origination volumes and other performance metrics reported for the 12 months ending in September 2024. It's important to note that the commercial real estate lending market is dynamic, and rankings may vary based on different criteria and reporting periods.