Loan originations grow for office, apartment properties

Bankers fund $33.2 billion in second quarter

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The Mortgage Bankers Association today released its quarterly commercial and multifamily mortgage loan originations survey for the second quarter of 2004, showing continued growth in mortgage originations. Commercial mortgage bankers originated $33.2 billion, up by 17.4 percent ($4.9 billion) from the same quarter in 2003 and up 54.1 percent ($11.6 billion) from the first quarter of 2004. The large increase from the first quarter reflects the traditional cycle of low levels of first-quarter originations followed by a pick-up in the second quarter. "The second quarter extends a period of record capital flows to the commercial and multifamily real estate markets, and sets 2004 on pace to exceed 2003's record origination volumes," said Doug Duncan, MBA's chief economist and senior vice president. Originations for office and retail properties increased by $2.3 billion and $1.7 billion, respectively, compared with the second quarter of 2003. Office property originations increased by 41...