Chicago, IL, May 08, 2015 --(PR.com
)-- CCM Commercial Mortgage, a commercial mortgage brokerage firm which secures debt and equity property financing for commercial real estate owners and developers nationwide, closed more than $110 million of loan transactions during the fourth quarter of 2014 and 2015‘s first quarter — quarterly volume levels not experienced by the firm since before the economic recession.
CCM’s first quarter closings totaled nearly $60 million, with individual property deals ranging from $1.2 million to $10.8 million. The majority of the transactions were for self-storage properties with the remainder being other commercial property types. In addition, CCM’s continually growing pipeline has more than $100 million of financing transactions completed or scheduled to close in the second and third quarters of this year.
“The post-recession lending markets have recovered extraordinarily well, with somewhat looser credit requirements and highly aggressive program terms being offered by CMBS lenders, banks and credit unions,” says CCM Commercial Mortgage Principal Neal Gussis. “In addition to having access to these attractive capital options, commercial property owners are benefiting from the past two years’ historically low interest rates.”
“CCM’s quickly growing transactional volume reflects this positive market environment. We are pleased to support so many customers nationwide with highly attractive financing and refinancing options from multiple lending sources,” says Gussis.
CCM Commercial Mortgage Principal Steve Libert adds: “Lenders are aggressively competing for borrower business again. Furthermore, the real estate investment community recognizes that interest rates are near bottom and there is no better time than today to refinance, sell or leverage a new investment.”
During the past two quarters, CCM has closed lending deals in 13 states. The transactions included refinancings for cash-out and lower rates, acquisition financing, as well as construction and bridge loans.
Based in Des Plaines, Ill., CCM Commercial Mortgage, headed up by Neal Gussis and Steve Libert, provides competitive and innovative debt and equity solutions for all commercial property types, with a strong focus on the national self-storage industry. The firm’s principals have financed more than $5 billion of commercial real estate, including $2-plus billion of self-storage property transactions since 1993.