Best Commercial real estate lending in USA
Non-sponsored, Expert Verified and Transparently Ranked Commercial real estate lending in USA
Published: December 25, 2025 | Verified by: Ted Scheiman & Rob Watts
Executive Summary
We analyzed 5 solutions. Top Recommendation: Mortgage Banking by Berkadia scored highest due to An integrated, lender‑agnostic platform with longstanding agency and institutional relationships that provides access to a wide range of capital sources and executions..
Content Verification
Side-by-Side Comparison
| Feature | #1 Mortgage Banking (Berkadia) | #2 Commercial Banking (Wells Fargo & Company) | #3 Real Estate Investment Strategies (MetLife Investment Management) | #4 Lending Platform for Banks and Credit Unions (KeyCorp (KeyBank)) | #5 Commercial Term Lending (Multifamily) (JPMorgan Chase & Co.) |
|---|---|---|---|---|---|
| Best For | An integrated, lender‑agnostic platform with longstanding agency and institutional relationships that provides access to a wide range of capital sources and executions. | Large on‑balance‑sheet capacity with financing from $1 million to $500+ million and a full spectrum of structures (construction through permanent) delivered by a national CRE platform. | Life‑company balance sheet lending with substantial CRE mortgage AUM and the ability to provide long‑duration, fixed‑rate capital alongside customized structures. | Broad capital access under one roof, agency, CMBS, insurance company placements, and non‑recourse bridge, allowing borrowers to match structures to business plans. | Local decision‑making teams and a streamlined process designed for speed and efficiency, with features like early rate lock for multifamily borrowers. |
| Decision-Making Speed | Small Loans: application-to-close typically 60, 70 days; expedited 45, 55. (berkadia.com) HUD executions: 45, 60 days for firm underwriting, plus 45, 60 for HUD review, and 45, 60 to close. (qc.berkadia.com) Proprietary bridge lending enabled a 29-business-day closing. (berkadia.com) | Varies by product: Prime Line of Credit processing up to two weeks (wellsfargo.com); CRE Manufactured Home Communities typically close 45, 60 days after a complete application (wellsfargo.com); some equipment finance programs offer same-day credit decisions for qualified buyers. (wellsfargo.com) | Streamlined approval process with comprehensive pre‑application due diligence reduces process risk and supports faster, seamless closings; emphasizes certainty of execution and the expertise to rapidly execute complex transactions. (investments.metlife.com) | N/A | Local decision-making and a streamlined loan process enable fast decisions; Chase promises “remarkable speed” and “speed and certainty of execution” for multifamily term loans. (jpmorgan.com) |
| Capital Access Variety | Extensive capital access: agencies (Fannie Mae, Freddie Mac, FHA/HUD), life companies, banks, REITs, CMBS/conduits, debt funds; plus equity via Strategic Capital (asset/portfolio-level equity, recapitalizations, programmatic JVs) tapping domestic and global institutional investors. Supports short-, intermediate-, and long-term financing needs. (berkadia.com) | Broad mix: asset-based lending; commercial loans/lines and letters of credit; CRE balance‑sheet financing (construction, bridge, mini‑perm, permanent, mezzanine); equipment loans and leases; and inventory/floor‑plan finance. (wellsfargo.com) Also: receivables/trade finance (ARS, factoring, supplier finance, L/Cs, guarantees); renewable‑energy tax‑equity; and strategic capital (junior capital, direct lending, non‑control equity). (wellsfargo.com) | Capital access includes debt and equity. Debt: first mortgages and subordinate debt, via participations, joint ventures, private-label and other structured solutions. (investments.metlife.com) Equity: core to opportunistic strategies delivered through commingled vehicles, separately managed accounts, REIT structures, and other solutions. (investments.metlife.com) | Capital access through CMBS markets; direct placements to insurance companies, pension funds, and separate accounts; agency executions (Fannie Mae, Freddie Mac, FHA/HUD); plus fixed- and floating‑rate non‑recourse bridge financing across multifamily and commercial sectors. (key.com) | Balance-sheet and agency executions. Programs include fixed, hybrid (fixed-to-ARM), and 6‑month ARM; 15‑year fixed; Fannie Mae DUS/Freddie Mac Optigo with up to 30‑year amortization. Flexible prepayment (stepdown, yield maintenance) and early rate lock available. (jpmorgan.com) |
| Loan Structure Diversity | Broad mix: agency (Fannie Mae, Freddie Mac, HUD); life company, bank, CMBS/conduit, and debt-fund executions; bridge (incl. proprietary bridge fund), construction, and agency credit facilities; plus JV equity, preferred equity/mezzanine, stretch senior, co‑GP/platform‑level, ground leases and A/B notes, supporting short-, intermediate-, and long‑term acquisition, refi, rehab, and repositioning. (berkadia.com) | Loan structures span CRE construction, acquisition, bridge/interim, mini‑perm, permanent, rehab/repositioning, note financing; secured/unsecured lines, LCs; A/B and mezzanine; subscription lines; recourse/non‑recourse with fixed/floating rates and 1, 5‑year terms (up to 10). (wellsfargo.com) Broader mix includes asset‑based loans, floorplan/inventory finance, and equipment loans/leases. (wellsfargo.com) | Senior (first mortgages) and subordinate debt; structures include participations, joint ventures, and private-label/other structured solutions; flexible term and rate structures across the risk/return spectrum. (investments.metlife.com) | Permanent and bridge loans (fixed or floating, non‑recourse) executed via CMBS, agency channels (Fannie Mae, Freddie Mac, FHA/HUD), and direct life‑company/pension placements across multifamily and commercial segments, including healthcare and self‑storage. (key.com) | Offers fixed, 6-month ARM, and hybrid (fixed-to-ARM) term loans; agency executions via Fannie Mae DUS or Freddie Mac Optigo with up to 30-year amortization; flexible prepayment options (stepdown and yield maintenance); early rate lock available. (jpmorgan.com) |
BerkadiaCompany Information
Description
Berkadia is a leading provider of commercial real estate services, including investment sales, mortgage banking, and loan servicing, specializing in multifamily investment, affordable housing, and other sectors.
What They Do
Berkadia provides comprehensive commercial real estate services, addressing investment sales, mortgage banking, and loan servicing.
Who They Serve
Commercial real estate investors and developers across various sectors including multifamily housing, hotels, and affordable housing.
Key Value Propositions
Target Customers
Industries Served
Contact Information
Summary
Berkadia’s Mortgage Banking group sources debt and equity across commercial real estate, leveraging deep relationships with Fannie Mae, Freddie Mac, FHA/HUD, life companies, banks, REITs, CMBS/conduits, and debt funds. It serves investors nationwide with solutions for acquisition, refinance, rehab, and repositioning.
Key Features
- Agency Lending (Fannie Mae, Freddie Mac, FHA/HUD)
- Strategic Capital (joint-venture investments, structured capital solutions)
- Agency Structured Transactions (credit facility executions, flexible financing terms)
- Loan Servicing (CMBS, balance sheet lending, life company portfolios, agency programs, institutional investments)
- Specialty financing for affordable housing, hotels & hospitality, manufactured housing, medical & life sciences, seniors housing & healthcare, single-family rental & build-to-rent, small loans, and student housing
Key Benefits
- Access to a wide range of capital sources (Fannie Mae, Freddie Mac, FHA/HUD, life insurance companies, banks, REITs, CMBS/conduits, debt funds)
- Solutions for all property types and geographies
- Short, intermediate, and long-term financing options
- Expertise in structuring complex transactions
- High list-to-close ratios and client-focused guidance
- Support for clients' long-term business growth
Who Is It For
- Commercial real estate owners and investors
- Developers seeking acquisition, refinance, rehabilitation, or repositioning financing
- Clients in affordable housing, hotels & hospitality, manufactured housing, medical & life sciences, seniors housing & healthcare, single-family rental & build-to-rent, small loans, and student housing sectors
Expertise For Every Endeavor
Experienced mortgage banking professionals provide reliable debt and equity solutions for commercial real estate of all sizes and geographies, leveraging relationships with a broad range of lenders.
- Access to Fannie Mae, Freddie Mac, FHA/HUD, life insurance companies, banks, REITs, CMBS/conduits, and debt funds
- Short, intermediate, and long-term solutions for acquisition, refinance, rehabilitation, and repositioning
Track Record
Berkadia is a top-ranked lender in multiple categories, with significant loan origination volume and loan closings.
- $47B in loan origination volume (2023-2024)
- 2,200+ loans closed (2023-2024)
- #1 Freddie Mac Lender (2021-2024)
- #2 Fannie Mae DUS Lender (2022-2024)
- Top rankings in affordable housing, seniors housing, green financing, structured transactions, small loans, student housing
Lending Solutions
Berkadia offers a range of lending solutions including agency lending, HUD, strategic capital, structured transactions, and loan servicing.
- Fannie Mae Agency Lending
- Freddie Mac Agency Lending
- Housing and Urban Development (HUD)
- Strategic Capital
- Agency Structured Transactions
- Loan Servicing
Specialties
Berkadia provides specialized mortgage banking solutions for a variety of property types and sectors.
- Affordable Housing
- Hotels & Hospitality
- Manufactured Housing
- Medical & Life Sciences
- Seniors Housing & Healthcare
- Single-family Rental & Build-to-rent
- Small Loans
- Student Housing
Recent Transactions
Examples of recent mortgage banking transactions across the U.S.
- 2131 Graf Phase II, Bozeman, MT – $72.8M HUD New Construction
- Memory Care Community, Clackamas, OR – $17.7M HUD 232/223(f)
- Northpoint Apartments, San Francisco, CA – $67.2M Fannie Mae
- Sea Park, Brooklyn, NY – $120M Bridge Loan (816 units)
- Sorrento Tower, San Diego, CA – $53M Fannie Mae (199 units)
- The Residences at Monterra Commons, Pembroke Pines, FL – $36M Conventional
Leadership
Key leadership for Mortgage Banking at Berkadia.
- Hilary Provinse – Executive Vice President – Production and Capital Markets
- Cole Schutjer – Co-Head of Mortgage Banking and Production Operations
Compliance and Licensing
Berkadia Commercial Mortgage LLC holds multiple state licenses and provides required disclosures for its mortgage banking activities.
- CA Dept of Corporations Finance Lender and Broker License #988-0701
- Michigan Real Estate Broker
- CA Dept of Real Estate, Real Estate Broker License #01874116
- Not soliciting business in Nevada
- Texas Real Estate Commission disclosures
Resources
Supporting Resources
Detailed Comparison
Decision-Making Speed
Capital Access Variety
Loan Structure Diversity
Wells Fargo & CompanyCompany Information
Wells Fargo is a financial services company providing banking, investing, and other financial services to individuals, businesses, and institutions. The company offers a wide range of products and services, including checking and savings accounts, credit cards, loans, mortgages, investment products, and retirement accounts.
Keywords
Description
Wells Fargo is a financial services company that provides banking, investment, and mortgage products and services, along with consumer and commercial finance.
What They Do
Wells Fargo offers a wide range of financial services including personal and business banking, home loans, credit cards, and investment management.
Who They Serve
Individuals, businesses, and communities looking for financial products and services to enhance their financial health.
Key Value Propositions
Target Customers
Industries Served
Trusted By
Contact Information
Summary
Wells Fargo’s Balance Sheet Lending provides construction, bridge, mini‑perm, and permanent financing for commercial real estate sponsors. It serves experienced developers, owners, funds, and REITs across all major property types with tailored structures.
Key Features
- Asset-based lending
- Floor plan financing
- Commercial loans and lines of credit
- Global payment and liquidity solutions
- Equipment financing
- Renewable energy and environmental finance
- Global receivables and trade finance
- Strategic capital solutions (equity and debt products)
Key Benefits
- Seamless, scalable, and smart banking solutions
- Access to market-leading financial products and services
- Industry-specific expertise and insights
- Support for growth and operational efficiency
- Global reach and resources
Who Is It For
- Commercial businesses with annual revenues from $25 million to $2 billion
- Industries including healthcare, technology, food, manufacturing, government, higher education, auto dealerships, beverage, and more
Business can be complicated—your banking shouldn’t be.
Wells Fargo Commercial Banking offers seamless, scalable, and smart financial solutions, leveraging a global footprint and trusted insights.
Navigating the unique challenges of your industry
Wells Fargo provides industry-specific expertise across a broad range of sectors, helping clients identify and capitalize on opportunities throughout business and economic cycles.
- Healthcare
- Technology
- Food
- Manufacturing
- Government
- Higher Education
- Auto Dealerships
- Beverage
- Growth Segments
Sharing insights on what matters to you
Wells Fargo experts provide research, analysis, and perspectives on current innovations and industry trends.
- Middle Market Indicator report
- Thanksgiving Food Report
- Supply Chain Report
- Asset-Based Lending overview
- Sustainable energy technology trends
Celebrating customer successes
Showcases of client growth stories, such as MUSH and Chomps, highlighting how Wells Fargo Commercial Banking supports business expansion.
- MUSH: tracking toward $100 million in revenue by year-end 2025
- Chomps: growth from startup to national brand
Reach out to get started
Wells Fargo focuses on providing tailored products and services to commercial businesses with annual revenues ranging from $25 million to $2 billion.
- Tailored products and services
- Credit approval required
Resources
Supporting Resources
Detailed Comparison
Decision-Making Speed
Capital Access Variety
Loan Structure Diversity
Real Estate Investment Strategies
MetLife Investment ManagementCompany Information
Description
MetLife Investment Management brings institutional investors deep and long-established expertise in Fixed Income, Small and Small-Mid Cap Equities, Private Credit and Real Estate.
What They Do
They provide institutional investment management services, including fixed income, equities, private capital, and real estate investment strategies.
Who They Serve
They serve institutional investors, including insurance companies and other large asset managers.
Key Value Propositions
Target Customers
Industries Served
Contact Information
Key Pages
Summary
MetLife Investment Management originates first mortgages and subordinate debt on institutional‑quality commercial real estate across office, retail, multifamily, industrial, and hotel. The platform targets primary U.S. markets with a long‑term, income‑oriented approach.
Key Features
- Proprietary research and risk management.
- Local presence with 11 regional offices.
- Experienced team: 80+ senior professionals with an average of 24 years of experience.
- 200+ locally based real estate investment professionals.
- Solutions tailored by geography, property type, and risk tolerance.
- Collaborative, client-focused approach.
Who Is It For
- Institutional investors
- Professional investors
- Accredited investors (US)
- Qualified purchasers (US)
- Professional investors as defined by local regulations in the UK, EEA, Hong Kong S.A.R., Japan, Australia, and other jurisdictions
Real Estate
MetLife Investment Management's Real Estate Investment Strategies focus on commercial mortgage loans and real estate equity, aiming to deliver attractive yields, income growth, and capital appreciation for institutional investors.
- Commercial Mortgage Loan strategy: attractive yields, low loss rates.
- Real Estate Equity strategy: growing current income, capital appreciation.
- Proprietary research, risk management, and local presence.
- 145 years of experience, 80+ senior professionals, 200+ local professionals.
- Solutions by geography, property type, and risk tolerance.
Get in touch with a MetLife Investment Management professional
Contact MetLife Investment Management to discuss real estate investment strategies tailored to institutional investors.
Resources
Supporting Resources
Detailed Comparison
Decision-Making Speed
Capital Access Variety
Loan Structure Diversity
Lending Platform for Banks and Credit Unions
KeyCorp (KeyBank)Company Information
LendKey is a financial technology company that provides student loan refinancing, private student loans, and home improvement loans. The company partners with non-profit credit unions and banks to offer low-rate loans online, enabling lenders to pass the savings along to borrowers.
Keywords
Summary
KeyBank Real Estate Capital provides permanent and bridge financing solutions across multifamily and commercial sectors. The platform originates through CMBS markets and direct placements to life companies and pensions, and supports specialized segments like healthcare and self‑storage.
Key Features
- Network lending model for originating, buying, and selling loans collectively
- Participation networks and institutional buyers for capital deployment
- Customizable digital loan programs with adjustable risk criteria
- White-label service with branded consumer-facing functionality
- Comprehensive loan servicing and detailed loan-level reporting
- Secure, compliant, and auditable application and origination processes
- Flexible origination or participation at 10% or higher
Key Benefits
- Streamlined, digital lending process
- Access to a national, diverse pool of borrowers
- Efficient capital deployment and risk diversification through participation networks
- Expertise in risk and compliance at all stages of the loan lifecycle
- Customizable, white-label loan programs
- Secure, auditable, and compliant web-based application processes
- Optimized liquidity management via network lending
Who Is It For
- Community banks
- Credit unions
- Financial institutions seeking to expand lending offerings
- Institutions looking to optimize liquidity and manage risk
Lending made simple.
Experience effortless lending with LendKey. Streamline your entire process, reach more borrowers, and accelerate your institution’s growth with powerful digital solutions designed for community lenders.
Liquidity Management through Network Lending Solutions
Network lending is a cooperative model where financial institutions pool resources, agree on common underwriting and pricing standards, and optimize liquidity management by originating, buying, and selling loans collectively.
Network Lending Benefits
- BOOST RETURNS: Deploy capital efficiently and diversify lending through participation networks and institutional buyers.
- DIVERSIFY RISK: By diversifying your loan holdings or participations, your organization can manage risk and optimize returns.
- COMPLIANCE: Our expertise in risk and compliance protects you at origination, disbursement, servicing, and repayment.
- WIDER CONSUMER BASE: Tap into a national, diverse pool of borrowers and market segments.
Our Network Lending Solutions
- Private Student Loans
- Student Loan Refinancing
- Home Improvement Loans
- ALIRO Loan Marketplace
Years of Innovation in Financial Technology
With more than 15 years of industry leadership, LendKey specializes in providing cutting-edge, technology-driven solutions to credit unions and community banks. We focus on fostering growth, enhancing service delivery, and optimizing liquidity management for financial institutions of all sizes.
- 400+ Institutions Served
- $7B+ Loans Originated for Clients
- $3.5B+ Participations Facilitated
The Keys to your Lending Journey
- Flexible Lending Solutions: Originate or participate at 10% or higher, whatever works best for your organization’s portfolio needs.
- Customizable Loan Programs: Lenders can customize digital loan programs to suit their target borrowers' needs. They choose risk criteria aligning with their objectives and can adapt parameters to changing market dynamics.
- Secure and Compliant Processes: LendKey’s web-based application processes are secure, fully compliant, and auditable so that any financial institution can easily trace its origination process, review loan files, and track performance.
- White Label Service: Our customized white-label service ensures full consumer-facing functionality, including remittance and detailed loan-level reporting. Experience your personalized branded webpage, all powered by LendKey's platform.
Resources
Supporting Resources
Detailed Comparison
Capital Access Variety
Loan Structure Diversity
Commercial Term Lending (Multifamily)
JPMorgan Chase & Co.Company Information
J.P. Morgan is a global financial services firm that provides a wide range of financial services to corporations, institutions, and individuals. They offer solutions in commercial banking, institutional investing, payments, credit and financing, and investment banking.
Keywords
Summary
Chase Commercial Term Lending offers term loans for stabilized multifamily properties (5+ units), typically from $500, 000 to $25 million or more. It targets experienced investors in major U.S. markets seeking streamlined acquisition or refinance financing.
Detailed Comparison
Decision-Making Speed
Capital Access Variety
Loan Structure Diversity
Our Ranking Methodology
How we rank these offerings
We ranked these Commercial real estate lending companies in the USA based on three key factors: Loan Structure Diversity (40% weight), Capital Access Variety (35% weight), and Decision-Making Speed (25% weight). Mortgage Banking scored highest because it offers extensive loan structuring and capital access solutions, providing flexibility and diversity in financing options which are critical in the commercial real estate sector.
Ranking Criteria Weights:
Frequently Asked Questions
- What are the typical costs and pricing models for commercial real estate lending in the USA?
- Pricing models in commercial real estate lending vary widely based on the type of loan and lender. Wells Fargo's Balance Sheet Lending offers tailored structures for construction, bridge, and permanent financing, which means costs can include origination fees, interest rates that may vary by market segment, and additional service fees. Similarly, Chase Commercial Term Lending provides term loans that factor in the stability and size of the multi-family properties, with costs adjusted for investors seeking streamlined refinancing or acquisition. Berkadia and KeyBank offer financing solutions that consider the type of property and the complexity of the deal, influencing associated costs through factors such as loan size and term.
- What key selection criteria should decision-makers consider when choosing a commercial real estate lender?
- Key selection criteria include the lender's expertise in the specific property type, their market presence, and their ability to provide tailored financing solutions. Companies like Wells Fargo, which serves experienced developers and REITs, highlight the importance of a lender understanding the customer's financial goals and property needs. Chase focuses on streamlined processes for experienced investors, indicating a lender's operational efficiency as a pivotal criterion. MetLife's focus on long-term, income-oriented approaches suggests that decision-makers should also assess lenders' commitment to sustainable income growth and extended market strategies.
- What industry standards and compliance protocols must be adhered to in commercial real estate lending?
- Compliance in commercial real estate lending involves adhering to federal and state regulations, especially regarding underwriting standards and borrower disclosures. For instance, Berkadia leverages relationships with Fannie Mae and Freddie Mac, suggesting stringent compliance with their underwriting standards. KeyBank's CMBS market activities indicate observance of detailed securitization regulations. Additionally, lenders like Wells Fargo and Chase must maintain transparency and adherence to anti-money laundering and Know Your Customer (KYC) procedures, given their extensive financial dealings and diverse client bases.
- What are the common implementation challenges in commercial real estate lending, and how can they be addressed?
- Challenges include navigating complex regulatory environments, fluctuating market conditions, and aligning financing with customer project timelines. For instance, Wells Fargo's ability to offer mini-perm and permanent financing suggests addressing market uncertainty with flexible loan structures. Chase eases the acquisition process through streamlined lending processes, demonstrating a solution to timeline challenges. Berkadia's extensive network and diverse funding sources enable it to seamlessly adapt to changing market dynamics, suggesting that maintaining strong, diverse lender relations is key to overcoming implementation obstacles.
- What is the expected ROI and value delivery in commercial real estate lending projects?
- ROI in commercial real estate lending projects tends to be project-specific but generally revolves around enhanced value through strategic financing. Investors using MetLife Investment Management's long-term approaches benefit from focused income generation and asset appreciation. Berkadia supports value delivery by offering access to diverse funding sources, which can enhance project capital structures and potential returns. Chase's focus on stabilized multi-family properties indicates a stable cash flow expectation, while KeyBank's sectorial focus on healthcare and self-storage could indicate niche-specific high-yield opportunities.
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